Aircraft Sale-Leaseback Transactions

9 Months Ended

Feb. 28, 2017

Aircraft Sale-Leaseback Transactions

Aircraft Sale-Leaseback Transactions

Note 6 — Aircraft Sale-Leaseback Transactions

During the nine-month period ended February 29, 2016, we received proceeds of $38.5 million from sale-leaseback transactions for two AW-189 rotary-wing aircraft.  The $1.7 million gain realized on the sale was deferred and is being amortized over the lease term of ten years.