Note 13 - Lease Right-to-use

9 Months Ended

Jan. 31, 2023

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.

	January 31, 2023
Lease right-to-use assets	$	3,781
Less accumulated depreciation		653
Total	$	3,128

Future minimum lease payments for assets under finance leases at January 31, 2023 are as follows:

2024	$	262
2025		176
2026		115
2027		118
2028		120
Thereafter		12,858
Total minimum lease payments		13,649
Less amount representing interest		10,156
Present value of net minimum lease payments		3,493
Less current maturities of lease liability		142
Lease liability, net of current maturities	$	3,351

Finance lease costs at January 31, 2023 and  January 31, 2022 are as follows: 

	January 31, 2023		January 31, 2022
Finance lease cost:
Amortization of right-of-use assets	$	141	$	138
Interest on lease liabilities		141		112
Total finance lease cost	$	282	$	250

	January 31, 2023			January 31, 2022
Weighted average remaining lease term - Financing leases (in years)		46			44
Weighted average discount rate - Financing leases		5.8	%		5.0	%