LEASE RIGHT-TO-USE

12 Months Ended

Apr. 30, 2025

Leases [Abstract]

LEASE RIGHT-TO-USE

LEASE RIGHT-TO-USE:

The Company accounts for its leases under ASU 2016-02 Leases – Topic 842. ASU 2016-02 requires that on the balance sheet a lessee should recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term.

We lease the hangar and office space with initial lease terms of two, five, and fifty years.

	April 30, 2025		April 30, 2024
Finance Lease right-to-use assets	$	3,829	$	3,781
Less accumulated depreciation	462		889
Total	$	3,367	$	2,892

Future minimum lease payments for assets under capital leases at April 30, 2025 are as follows:

2026	$	273
2027	278
2028	283
2029	287
2030	153
Thereafter	12,579
Total minimum lease payments	13,853
Less amount representing interest	9,832
Present value of net minimum lease payments	4,021
Less current maturities of finance lease liability	121
Finance lease liability, net of current maturities	$	3,900

	April 30, 2025			April 30, 2024
Finance lease cost:
Amortization of right-of-use assets	$	197		$	189
Interest on lease liabilities	220			186
Total finance lease cost	$	417		$	375
	April 30, 2025			April 30, 2024
Weighted average remaining lease term - Financing leases	38 years			44 years
Weighted average discount rate - Financing leases	5.8		%	5.8		%