Note 13 - Lease Right-to-use

6 Months Ended

Oct. 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.

	October 31, 2022
Lease right-to-use assets	$	3,781
Less accumulated depreciation		605
Total	$	3,176

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

2023	$	261
2024		214
2025		115
2026		117
2027		119
Thereafter		12,888
Total minimum lease payments		13,714
Less amount representing interest		10,204
Present value of net minimum lease payments		3,510
Less current maturities of lease liability		139
Lease liability, net of current maturities	$	3,371

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

	October 31, 2022		October 31, 2021
Finance lease cost:
Amortization of right-of-use assets	$	94	$	95
Interest on lease liabilities		93		75
Total finance lease cost	$	187	$	170

	October 31, 2022			October 31, 2021
Weighted average remaining lease term - Financing leases (in years)		46			45
Weighted average discount rate - Financing leases		5.8	%		5.0	%