Note 13 - Lease Right-to-use

3 Months Ended

Jul. 31, 2022

Notes to Financial Statements

Lessee, Finance Leases [Text Block]

13. Lease Right-to-Use

We lease hangars and office space with initial lease terms of five, forty-six, and fifty years.

	July 31, 2022
Lease right-to-use assets	$	3,781
Less accumulated depreciation		558
Total	$	3,223

Future minimum lease payments for assets under finance leases at July 31, 2022 are as follows:

2023	$	260
2024		252
2025		114
2026		116
2027		119
Thereafter		12,918
Total minimum lease payments		13,779
Less amount representing interest		10,252
Present value of net minimum lease payments		3,527
Less current maturities of lease liability		136
Lease liability, net of current maturities	$	3,391

Finance lease costs at July 31, 2022 and  July 31, 2021 are as follows: 

FinanceLeaseCost
	July 31, 2022			July 31, 2021
Finance lease cost:
Amortization of right-of-use assets	$	46		$	52
Interest on lease liabilities		45			38
Total finance lease cost	$	91		$	90
	July 31, 2022			July 31, 2021
Weighted average remaining lease term - Financing leases	46 years			44 years
Weighted average discount rate - Financing leases		5.8	%		5.0	%