Document_and_Entity_Informatio
| Document and Entity Information | 9 Months Ended | |
| Sep. 30, 2013 | Nov. 08, 2013 | |
| Document and Entity Information [Abstract] | ' | ' |
| Entity Registrant Name | 'AEROCENTURY CORP | ' |
| Entity Central Index Key | '0001036848 | ' |
| Current Fiscal Year End Date | '--12-31 | ' |
| Entity Well-known Seasoned Issuer | 'No | ' |
| Entity Voluntary Filers | 'No | ' |
| Entity Current Reporting Status | 'Yes | ' |
| Entity Filer Category | 'Smaller Reporting Company | ' |
| Entity Common Stock, Shares Outstanding | ' | 1,606,557 |
| Document Fiscal Year Focus | '2013 | ' |
| Document Fiscal Period Focus | 'Q3 | ' |
| Document Type | '10-Q | ' |
| Amendment Flag | 'false | ' |
| Document Period End Date | 30-Sep-13 | ' |
Balance_Sheets_Unaudited
| Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
| Assets: | ' | ' |
| Cash and cash equivalents | $5,077,300 | $1,596,800 |
| Accounts receivable, including deferred rent of $250,900 and $985,300, net of allowance for doubtful accounts of $0 and $2,419,400 at September 30, 2013 and December 31, 2012, respectively | 2,079,700 | 3,196,200 |
| Finance leases receivable | 1,933,200 | 1,557,200 |
| Aircraft and aircraft engines held for lease, net of accumulated depreciation of $51,638,300 and $52,244,500 at September 30, 2013 and December 31, 2012, respectively | 138,712,100 | 143,667,700 |
| Assets held for sale | 1,374,300 | 745,400 |
| Prepaid expenses and other | 3,163,800 | 1,663,200 |
| Total assets | 152,340,400 | 152,426,500 |
| Liabilities: | ' | ' |
| Accounts payable and accrued expenses | 976,700 | 1,133,600 |
| Notes payable and accrued interest | 64,532,400 | 67,865,700 |
| Maintenance reserves and accrued maintenance costs | 12,381,300 | 15,356,100 |
| Security deposits | 6,520,300 | 7,001,200 |
| Unearned revenues | 607,400 | 752,400 |
| Deferred income taxes | 16,825,500 | 14,419,200 |
| Income taxes payable | 4,300 | 19,100 |
| Total liabilities | 101,847,900 | 106,547,300 |
| Commitments and contingencies | ' | ' |
| Stockholders' equity: | ' | ' |
| Preferred stock, $0.001 par value, 2,000,000 shares authorized, no shares issued and outstanding | 0 | 0 |
| Common stock, $0.001 par value, 10,000,000 shares authorized, 1,606,557 shares issued and outstanding | 1,600 | 1,600 |
| Paid-in capital | 14,780,100 | 14,780,100 |
| Retained earnings | 36,214,900 | 31,601,600 |
| Shareholders equity before treasury stock | 50,996,600 | 46,383,300 |
| Treasury stock at cost, 63,300 shares | -504,100 | -504,100 |
| Total stockholders' equity | 50,492,500 | 45,879,200 |
| Total liabilities and stockholders' equity | $152,340,400 | $152,426,500 |
Balance_Sheets_Unaudited_Paren
| Balance Sheets (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
| Assets: | ' | ' |
| Accounts receivable, deferred rent | $250,900 | $985,300 |
| Accounts receivable, allowance for doubtful accounts | 0 | 2,419,400 |
| Aircraft and aircraft engines held for lease, accumulated depreciation | $51,638,300 | $52,244,500 |
| Stockholders' equity: | ' | ' |
| Preferred stock, par value (in dollars per share) | $0 | $0 |
| Preferred stock, authorized (in shares) | 2,000,000 | 2,000,000 |
| Preferred stock, issued (in shares) | 0 | 0 |
| Preferred stock, outstanding (in shares) | 0 | 0 |
| Common stock, par value (in dollars per share) | $0 | $0 |
| Common stock, authorized (in shares) | 10,000,000 | 10,000,000 |
| Common stock, issued (in shares) | 1,606,557 | 1,606,557 |
| Common stock, outstanding (in shares) | 1,606,557 | 1,606,557 |
| Treasury stock (in shares) | 63,300 | 63,300 |
Statements_of_Operations_Unaud
| Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
| Revenues and other income: | ' | ' | ' | ' |
| Operating lease revenue, net | $4,368,200 | $5,792,600 | $13,941,200 | $17,388,600 |
| Maintenance reserves revenue, net | 556,900 | 1,263,800 | 8,260,500 | 3,026,700 |
| Gain on disposal of assets and other income | 2,023,000 | 26,500 | 4,792,200 | 954,100 |
| Total Income | 6,948,100 | 7,082,900 | 26,993,900 | 21,369,400 |
| Expenses: | ' | ' | ' | ' |
| Maintenance | 2,451,100 | 807,400 | 6,239,900 | 3,174,500 |
| Depreciation | 1,790,300 | 1,546,300 | 5,339,700 | 4,525,800 |
| Management fees | 1,054,000 | 1,091,600 | 3,218,500 | 3,085,000 |
| Interest | 966,200 | 1,233,900 | 3,034,300 | 3,458,900 |
| Professional fees, general and administrative and other | 278,900 | 349,800 | 948,600 | 977,600 |
| Insurance | 276,300 | 292,400 | 827,900 | 611,700 |
| Bad debt expense | 357,600 | 0 | 357,600 | 310,300 |
| Total expenses | 7,174,400 | 5,321,400 | 19,966,500 | 16,143,800 |
| Income/(loss) before income tax provision | -226,300 | 1,761,500 | 7,027,400 | 5,225,600 |
| Income tax provision | 114,300 | 648,600 | 2,414,100 | 1,827,100 |
| Net income/(loss) | ($340,600) | $1,112,900 | $4,613,300 | $3,398,500 |
| Earnings/(loss) per share: | ' | ' | ' | ' |
| Basic (in dollars per share) | ($0.22) | $0.72 | $2.99 | $2.20 |
| Diluted (in dollars per share) | ($0.22) | $0.71 | $2.91 | $2.18 |
| Weighted average shares used in earnings per share computations: | ' | ' | ' | ' |
| Basic (in shares) | 1,543,257 | 1,543,257 | 1,543,257 | 1,543,257 |
| Diluted (in shares) | 1,543,257 | 1,565,057 | 1,587,329 | 1,560,453 |
Statements_of_Cash_Flows_Unaud
| Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
| Sep. 30, 2013 | Sep. 30, 2012 | |
| Statements of Cash Flows (Unaudited) [Abstract] | ' | ' |
| Net cash provided by operating activities | $7,222,400 | $12,999,700 |
| Investing activities: | ' | ' |
| Proceeds from disposal of assets, net of re-sale fees | 8,247,400 | 3,392,000 |
| Purchases of aircraft and aircraft engines | -6,634,300 | -25,660,600 |
| Net cash provided by/(used in) investing activities | 1,613,100 | -22,268,600 |
| Financing activities: | ' | ' |
| Borrowings under Credit Facility | 4,000,000 | 19,900,000 |
| Repayments of Credit Facility | -7,300,000 | -5,200,000 |
| Debt issuance costs | -2,055,000 | -1,605,000 |
| Net cash (used in)/provided by financing activities | -5,355,000 | 13,095,000 |
| Net increase in cash and cash equivalents | 3,480,500 | 3,826,100 |
| Cash and cash equivalents, beginning of period | 1,596,800 | 995,500 |
| Cash and cash equivalents, end of period | $5,077,300 | $4,821,600 |
Statements_of_Cash_Flows_Unaud1
| Statements of Cash Flows (Unaudited) (Parenthetical) (USD $) | 9 Months Ended | |
| Sep. 30, 2013 | Sep. 30, 2012 | |
| Statements of Cash Flows (Unaudited) [Abstract] | ' | ' |
| Interest paid | $2,260,100 | $2,766,800 |
| Income taxes paid | $800 | $2,100 |
Organization_and_Summary_of_Si
| Organization and Summary of Significant Accounting Policies | 9 Months Ended | ||||||||||||||||||||||||||||||||
| Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
| Organization and Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||||||||
| Organization and Summary of Significant Accounting Policies | ' | ||||||||||||||||||||||||||||||||
| 1.Organization and Summary of Significant Accounting Policies | |||||||||||||||||||||||||||||||||
| (a)The Company and Basis of Presentation | |||||||||||||||||||||||||||||||||
| AeroCentury Corp. (the “Company”), a Delaware corporation incorporated in 1997, acquires used regional aircraft and engines for lease to foreign and domestic regional carriers. | |||||||||||||||||||||||||||||||||
| The condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine-month period ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. | |||||||||||||||||||||||||||||||||
| For further information, refer to the financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2012. | |||||||||||||||||||||||||||||||||
| (b)Use of Estimates | |||||||||||||||||||||||||||||||||
| The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable for making judgments that are not readily apparent from other sources. | |||||||||||||||||||||||||||||||||
| The most significant estimates with regard to these financial statements are the residual values and useful lives of the assets, the amount and timing of cash flows associated with each asset that are used to evaluate whether assets are impaired, accrued maintenance costs, accounting for income taxes, and the amounts recorded as allowances for doubtful accounts. | |||||||||||||||||||||||||||||||||
| (c)Fair Value Measurements | |||||||||||||||||||||||||||||||||
| Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs, to the extent possible. The fair value hierarchy under GAAP is based on three levels of inputs. | |||||||||||||||||||||||||||||||||
| Level 1 - Quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||||||||||||||||||
| Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||||||||||||||||||
| Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||||||||||||||||||||
| Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||||||||
| The following table shows by level, within the fair value hierarchy, the fair value of the Company’s assets that are measured and recorded at fair value on a recurring basis: | |||||||||||||||||||||||||||||||||
| 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
| Total | Level | Level | Level | Total | Level | Level | Level | ||||||||||||||||||||||||||
| 1 | 2 | 3 | 1 | 2 | 3 | ||||||||||||||||||||||||||||
| Money market funds included in cash and cash equivalents | $ | 4,541,200 | $ | 4,541,200 | $ | - | $ | - | $ | 1,239,500 | $ | 1,239,500 | $ | - | $ | - | |||||||||||||||||
| Total | $ | 4,541,200 | $ | 4,541,200 | $ | - | $ | - | $ | 1,239,500 | $ | 1,239,500 | $ | - | $ | - | |||||||||||||||||
| As of September 30, 2013 and December 31, 2012, there were no liabilities that were required to be measured and recorded at fair value on a recurring basis. | |||||||||||||||||||||||||||||||||
| Assets Measured and Recorded at Fair Value on a Nonrecurring Basis | |||||||||||||||||||||||||||||||||
| The Company determines fair value of long-lived assets held and used, such as aircraft and aircraft engines held for lease and held for sale, by reference to independent appraisals, quoted market prices (e.g., offers to purchase) and other factors. An impairment charge is recorded when the Company believes that the carrying value of an asset will not be recovered through future net cash flows and that the carrying value exceeds its fair value. During the three months and nine months ended September 30, 2013 and 2012, there were no recorded impairments of long-lived assets. | |||||||||||||||||||||||||||||||||
| Fair Value of Other Financial Instruments | |||||||||||||||||||||||||||||||||
| The Company’s financial instruments, other than cash and cash equivalents, consist principally of finance leases receivable and amounts borrowed under its credit facility (the “Credit Facility,” as defined in Note 4). The fair value of accounts receivable, finance leases receivable, accounts payable and the refundable reserves portion of the Company’s maintenance reserves and accrued maintenance costs approximates the carrying value of these financial instruments. | |||||||||||||||||||||||||||||||||
| Borrowings under the Company’s Credit Facility bear floating rates of interest that reset periodically to a market benchmark rate plus a credit margin. The Company believes the effective interest rate of this debt agreement approximates current market rates for such indebtedness at the balance sheet date, and therefore that the carrying amount of its floating rate debt at the balance sheet dates approximates its fair value. The fair value of the Company’s outstanding balance of its Credit Facility would be categorized as Level 3 under the GAAP fair value hierarchy. | |||||||||||||||||||||||||||||||||
| (d)Finance Leases | |||||||||||||||||||||||||||||||||
| The leases for one of the Company’s aircraft and two engines contain lessee purchase options at prices substantially below the assets’ estimated residual values at the exercise date for the option. Consequently, the Company considers the purchase options to be “bargain purchase options” and has classified such leases as finance leases for financial accounting purposes. The Company does not include the value, purchase price or accumulated depreciation of finance lease assets on its balance sheet. Instead, the discounted present value of (i) future minimum lease payments (including the bargain purchase option) and (ii) any residual value not subject to a bargain purchase option are reported as a finance lease receivable. Rental revenue and depreciation expense are not recognized on finance leases. Rather, the Company accrues interest on the balance of the finance leases receivable based on the interest rate inherent in the applicable lease. The Company recognized interest earned on finance leases as “other income” in the amount of $37,100 and $21,800 in the quarters ended September 30, 2013 and 2012, respectively, and $102,100 and $67,800 in the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||
Aircraft_and_Aircraft_Engines_
| Aircraft and Aircraft Engines Held for Lease or Sale | 9 Months Ended | ||||||||||||||||
| Sep. 30, 2013 | |||||||||||||||||
| Aircraft and Aircraft Engines Held for Lease or Sale [Abstract] | ' | ||||||||||||||||
| Aircraft and Aircraft Engines Held for Lease or Sale | ' | ||||||||||||||||
| 2.Aircraft and Aircraft Engines Held for Lease or Sale | |||||||||||||||||
| (a)Assets Held for Lease | |||||||||||||||||
| At September 30, 2013 and December 31, 2012, the Company’s aircraft and aircraft engines, which were on lease or held for lease, consisted of the following: | |||||||||||||||||
| 30-Sep-13 | 31-Dec-12 | ||||||||||||||||
| Number | % of net | Number | % of net | ||||||||||||||
| Model | owned | book value | owned | book value | |||||||||||||
| Bombardier Dash-8-300 | 9 | 26 | % | 9 | 25 | % | |||||||||||
| Fokker 100 | 7 | 22 | % | 7 | 22 | % | |||||||||||
| Bombardier Dash-8-Q400 | 3 | 19 | % | 3 | 19 | % | |||||||||||
| Fokker 50 | 11 | 12 | % | 13 | 14 | % | |||||||||||
| Saab 340B Plus | 6 | 9 | % | 4 | 6 | % | |||||||||||
| General Electric CF34-8E5 engine | 3 | 7 | % | 3 | 7 | % | |||||||||||
| Saab 340B | 4 | 4 | % | 5 | 5 | % | |||||||||||
| Tay 650-15 engine | 2 | 1 | % | - | - | ||||||||||||
| General Electric CT7-9B engine | 2 | - | 1 | - | |||||||||||||
| Saab 340A | 1 | - | 1 | - | |||||||||||||
| deHavilland DHC-8-100 | - | - | 1 | 1 | % | ||||||||||||
| deHavilland DHC-6 | - | - | 1 | 1 | % | ||||||||||||
| Net book value excludes the Company’s Saab 340A aircraft and the two General Electric CT7-9B engines, which are subject to finance leases. | |||||||||||||||||
| During the third quarter of 2013, the Company purchased a Saab 340B Plus aircraft on lease to an existing customer, with a lease term expiring in the second quarter of 2018. During the third quarter of 2013, the Company used cash of $2,545,400 for the purchase and capital improvement of aircraft. | |||||||||||||||||
| During the quarter ended September 30, 2013, the Company sold a Fokker 50 aircraft and a deHavilland DHC-6 aircraft and recorded gains of $523,400 and $1,461,800, respectively. | |||||||||||||||||
| During the third quarter of 2013, the Company leased two of its Saab 340B aircraft to a new customer, each with a term of 48 months, and re-leased a General Electric CF34-8E5 engine to a previous customer under a short-term lease. The Company also extended the lease for another General Electric CF34-8E5 engine on lease to the same customer. Both of these engines were returned to the Company in the fourth quarter of 2013. | |||||||||||||||||
| In August 2013, the lessee of three of the Company’s Fokker 100 aircraft was declared bankrupt and the lessee returned the aircraft to the Company. In connection with the bankruptcy, the Company recorded a bad debt expense of $357,600. | |||||||||||||||||
| At September 30, 2013, fourteen of the Company’s assets, comprised of four Fokker 50 aircraft, one Saab 340B aircraft, seven Fokker 100 aircraft and two Tay 650-15 engines, which represented 27% of the net book value of the Company’s aircraft and engines, were off lease. One of the Fokker 100 aircraft was delivered to a new lessee in October 2013 for a lease term expiring in November 2016. The Company is seeking re-lease opportunities for the other off-lease assets, other than the two Tay 650-15 engines that are being held as spares and used in connection with required maintenance on the Company’s Fokker 100 aircraft. | |||||||||||||||||
| (b)Assets Held for Sale | |||||||||||||||||
| Assets held for sale are carried at their estimated fair values, less costs to sell. At September 30, 2013, such assets consisted of two Saab 340B airframes and one General Electric CT7-9B engine. The various components of the airframes are in the process of being sold pursuant to consignment agreements executed with a maintenance vendor. During the third quarter of 2013, the Company realized $73,600 of proceeds from sales of airframe parts. The Company is seeking sales opportunities for the engine. No adjustments to the carrying value of the Company’s assets held for sale were recorded during the three months or nine months ended September 30, 2013 and 2012. | |||||||||||||||||
Maintenance_Reserves_and_Accru
| Maintenance Reserves and Accrued Maintenance Costs | 9 Months Ended | ||||||||
| Sep. 30, 2013 | |||||||||
| Maintenance Reserves and Accrued Maintenance Costs [Abstract] | ' | ||||||||
| Maintenance Reserves and Accrued Maintenance Costs | ' | ||||||||
| 3.Maintenance Reserves and Accrued Maintenance Costs | |||||||||
| Maintenance costs under the Company’s triple net leases are generally the responsibility of the lessees. Most of the Company’s leases require payment of maintenance reserves, which are based upon lessee-reported usage and billed monthly, and are intended to accumulate and be applied by the Company toward reimbursement of most or all of the cost of the lessees’ performance of certain maintenance obligations under the leases. Maintenance reserves are characterized as either refundable or non-refundable depending on their disposition at lease end. | |||||||||
| Refundable maintenance reserves received by the Company are accounted for as a liability, which is reduced when maintenance work is performed during the lease and reimbursement to the lessee is paid. Such reserves are refunded after all return conditions and, in some cases, any other payments due under the lease are satisfied. Any refundable reserves retained by the Company to satisfy return conditions are recorded as revenue when the asset is returned. | |||||||||
| Non-refundable maintenance reserves are recorded as maintenance reserves revenue (assuming cash is received or collections are reasonably assured). The timing difference between recording maintenance reserves revenue as usage occurs and recording maintenance expense as maintenance is performed can have material effects on the volatility of reported earnings. | |||||||||
| At September 30, 2013 and December 31, 2012, the liability for maintenance reserves and accrued maintenance costs consisted of refundable maintenance payments billed to lessees based on usage and accrued maintenance costs for both off-lease aircraft and lessee maintenance claims for non-refundable maintenance reserves. Refundable maintenance reserves at December 31, 2012 also included a $6,528,500 payment received from a lessee when its two aircraft leases were assigned to a new lessee upon the sale by the original lessee of all of its assets to the new lessee in 2012. In the first quarter of 2013, the two subject aircraft were returned to the Company by the new lessee in connection with the new lessee’s bankruptcy and the $6,528,500 payment was recorded as maintenance reserves revenue. At September 30, 2013 and December 31, 2012, the Company’s maintenance reserves and accrued maintenance costs consisted of the following: | |||||||||
| September 30, | December 31, | ||||||||
| 2013 | 2012 | ||||||||
| Refundable maintenance reserves | $ | 9,711,600 | $ | 14,477,400 | |||||
| Accrued maintenance costs | 2,669,700 | 878,700 | |||||||
| $ | 12,381,300 | $ | 15,356,100 | ||||||
| Additions to and deductions from the Company’s accrued maintenance costs during the nine months ended September 30, 2013 and 2012 for aircraft maintenance were as follows: | |||||||||
| For the Nine Months Ended | |||||||||
| September 30, | |||||||||
| 2013 | 2012 | ||||||||
| Balance, beginning of period | $ | 878,700 | $ | 1,013,400 | |||||
| Additions: | |||||||||
| Charged to expense | 6,239,900 | 3,174,500 | |||||||
| Capital equipment | 384,800 | 52,300 | |||||||
| Accrued claims related to refundable maintenance reserves | 605,900 | 578,100 | |||||||
| Prepaid maintenance and other | 134,100 | 333,500 | |||||||
| Total additions | 7,364,700 | 4,138,400 | |||||||
| Deductions: | |||||||||
| Payments | 4,770,000 | 3,233,900 | |||||||
| Other | 803,700 | 292,400 | |||||||
| Total deductions | 5,573,700 | 3,526,300 | |||||||
| Net increase in accrued maintenance costs | 1,791,000 | 612,100 | |||||||
| Balance, end of period | $ | 2,669,700 | $ | 1,625,500 | |||||
Notes_Payable_and_Accrued_Inte
| Notes Payable and Accrued Interest | 9 Months Ended | ||||||||
| Sep. 30, 2013 | |||||||||
| Notes Payable and Accrued Interest [Abstract] | ' | ||||||||
| Notes Payable and Accrued Interest | ' | ||||||||
| 4.Notes Payable and Accrued Interest | |||||||||
| At September 30, 2013 and December 31, 2012, the Company’s notes payable and accrued interest consisted of the following: | |||||||||
| September 30, | December 31, | ||||||||
| 2013 | 2012 | ||||||||
| Credit Facility principal | $ | 64,500,000 | $ | 67,800,000 | |||||
| Credit Facility accrued interest | 32,400 | 65,700 | |||||||
| $ | 64,532,400 | $ | 67,865,700 | ||||||
| In March 2013, the Company’s Credit Facility (the “Credit Facility”) provided by a syndicate of banks was increased from $90 million to $130 million and the maturity date was extended to September 30, 2015. The Credit Facility is secured by all of the assets of the Company, including its aircraft and engine portfolio. | |||||||||
| As of September 30, 2013, the Company was out of compliance with a customer concentration covenant under its Credit Facility agreement. The higher than anticipated concentration resulted in part from the Company recognizing operating lease revenues from certain lessees on a cash basis, as collectability was not reasonably assured. Based on its current projections, the Company believes it may be out of compliance with this covenant at the December 31, 2013 calculation date for the same reason. The Credit Facility banks have granted a waiver of compliance with this covenant for the September 30, 2013 and December 31, 2013 calculation dates. The Company was in compliance with all covenants under the Credit Facility agreement at December 31, 2012. | |||||||||
| The unused amount of the Credit Facility was $65,500,000 and $22,200,000 as of September 30, 2013 and December 31, 2012, respectively; however, the amount available on those respective dates was limited to $16,517,500 and $1,113,500, respectively, due to borrowing base limitations. | |||||||||
| The weighted average interest rate on the Credit Facility was 3.94% and 4.00% at September 30, 2013 and December 31, 2012, respectively. | |||||||||
Computation_of_Earnings_Per_Sh
| Computation of Earnings Per Share | 9 Months Ended | ||||||||||||||||
| Sep. 30, 2013 | |||||||||||||||||
| Computation of Earnings Per Share [Abstract] | ' | ||||||||||||||||
| Computation of Earnings Per Share | ' | ||||||||||||||||
| 5.Computation of Earnings/(Loss) Per Share | |||||||||||||||||
| Basic and diluted earnings per share are calculated as follows: | |||||||||||||||||
| For the Nine Months Ended September 30, | For the Three Months | ||||||||||||||||
| Ended September 30, | |||||||||||||||||
| 2013 | 2012 | 2013 | 2012 | ||||||||||||||
| Net income/(loss) | $ | 4,613,300 | $ | 3,398,500 | $ | (340,600 | ) | $ | 1,112,900 | ||||||||
| Weighted average shares outstanding for the period | 1,543,257 | 1,543,257 | 1,543,257 | 1,543,257 | |||||||||||||
| Dilutive effect of warrants | 44,072 | 17,196 | - | 21,800 | |||||||||||||
| Weighted average diluted shares used in calculation | 1,587,329 | 1,560,453 | 1,543,257 | 1,565,057 | |||||||||||||
| of diluted earnings/(loss) per share | |||||||||||||||||
| Basic earnings/(loss) per share | $ | 2.99 | $ | 2.2 | $ | (0.22 | ) | $ | 0.72 | ||||||||
| Diluted earnings/(loss) per share | $ | 2.91 | $ | 2.18 | $ | (0.22 | ) | $ | 0.71 | ||||||||
| Basic earnings per common share is computed using net income and the weighted average number of common shares outstanding during the period. Diluted earnings per common share are computed using net income and the weighted average number of common shares outstanding, assuming dilution. Weighted average common shares outstanding, assuming dilution, include potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include the assumed exercise of warrants using the treasury stock method. For the three months ended September 30, 2013, the dilutive effect of outstanding warrants was 46,907 potentially outstanding shares issuable upon the assumed exercise of all outstanding warrants. However, the effect of these potentially outstanding shares was not included in the calculation of diluted loss per share for the applicable period because the effect would have been anti-dilutive. | |||||||||||||||||
Related_Party_Transactions
| Related Party Transactions | 9 Months Ended | ||||||||||||||||
| Sep. 30, 2013 | |||||||||||||||||
| Related Party Transactions [Abstract] | ' | ||||||||||||||||
| Related Party Transactions | ' | ||||||||||||||||
| 6. Related Party Transactions | |||||||||||||||||
| The Company’s portfolio of leased aircraft assets is managed and administered under the terms of a management agreement with JetFleet Management Corp. (“JMC”), which is an integrated aircraft management, marketing and financing business and a subsidiary of JetFleet Holding Corp. ("JHC"). Certain officers of the Company are also officers of JHC and JMC and hold significant ownership positions in both JHC and the Company. | |||||||||||||||||
| Under the management agreement, JMC receives a monthly management fee based on the net asset value of the assets under management. JMC also receives an acquisition fee for locating assets for the Company. Acquisition fees are included in the cost basis of the asset purchased. JMC may receive a remarketing fee in connection with the re-lease or sale of the Company’s assets. Remarketing fees are amortized over the applicable lease term or included in the gain on sale recognized upon sale of the applicable asset. | |||||||||||||||||
| Fees incurred during the quarters and nine months ended September 30, 2013 and September 30, 2012 were as follows: | |||||||||||||||||
| For the Nine Months | For the Three Months | ||||||||||||||||
| Ended September 30, | Ended September 30, | ||||||||||||||||
| 2013 | 2012 | 2013 | 2012 | ||||||||||||||
| Management fees | $ | 3,218,500 | $ | 3,085,000 | $ | 1,054,000 | $ | 1,091,600 | |||||||||
| Acquisition fees | 236,000 | 894,000 | 88,000 | - | |||||||||||||
| Remarketing fees | 485,300 | 182,000 | 244,300 | 38,000 | |||||||||||||
| In August 2009, the Company entered into an agreement (the "Assignment Agreement") with Lee G. Beaumont in which Mr. Beaumont assigned to the Company his rights to purchase certain aircraft engines from an unrelated third party seller. In January 2012, Mr. Beaumont became a “related person” with respect to the Company due to his open market acquisitions of shares representing over 5% of the Company’s common stock. Mr. Beaumont received the third and final installment of $66,700 due under the Assignment Agreement from the Company in the third quarter of 2012. Mr. Beaumont also receives certain fees from JMC in connection with placement of the engines with new or renewing lessees. | |||||||||||||||||
| Warrants issued to a group of funds affiliated with Whitebox Advisors, LLC in connection with a subordinated debt financing, which was paid in full in December 2011, became exercisable on December 30, 2011, and the shares issuable upon exercise of the warrants constitute over 5% of the common stock of the Company. As a result, the warrant holders became “related persons” with respect to the Company. The warrants expire on December 31, 2015. | |||||||||||||||||
Subsequent_Events
| Subsequent Events | 9 Months Ended |
| Sep. 30, 2013 | |
| Subsequent Events [Abstract] | ' |
| Subsequent Events | ' |
| 7. Subsequent Events | |
| In October 2013, the Company delivered one of its off-lease Fokker 100 aircraft to a new customer under a three-year lease. | |
| In October 2013, the Company agreed to a short-term extension of the lease for its Saab 340A aircraft, which is subject to a finance lease. | |
| In November 2013, the Company acquired a Bombardier CRJ-705 aircraft using a combination of Credit Facility financing and excess cash. The aircraft is subject to a lease expiring in May 2024. |
Organization_and_Summary_of_Si1
| Organization and Summary of Significant Accounting Policies (Policies) | 9 Months Ended | ||||||||||||||||||||||||||||||||
| Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
| Organization and Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||||||||
| The Company and Basis of Presentation | ' | ||||||||||||||||||||||||||||||||
| (a)The Company and Basis of Presentation | |||||||||||||||||||||||||||||||||
| AeroCentury Corp. (the “Company”), a Delaware corporation incorporated in 1997, acquires used regional aircraft and engines for lease to foreign and domestic regional carriers. | |||||||||||||||||||||||||||||||||
| The condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine-month period ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. | |||||||||||||||||||||||||||||||||
| For further information, refer to the financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2012. | |||||||||||||||||||||||||||||||||
| Use of Estimates | ' | ||||||||||||||||||||||||||||||||
| (b)Use of Estimates | |||||||||||||||||||||||||||||||||
| The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable for making judgments that are not readily apparent from other sources. | |||||||||||||||||||||||||||||||||
| The most significant estimates with regard to these financial statements are the residual values and useful lives of the assets, the amount and timing of cash flows associated with each asset that are used to evaluate whether assets are impaired, accrued maintenance costs, accounting for income taxes, and the amounts recorded as allowances for doubtful accounts. | |||||||||||||||||||||||||||||||||
| Fair Value Measurements | ' | ||||||||||||||||||||||||||||||||
| (c)Fair Value Measurements | |||||||||||||||||||||||||||||||||
| Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs, to the extent possible. The fair value hierarchy under GAAP is based on three levels of inputs. | |||||||||||||||||||||||||||||||||
| Level 1 - Quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||||||||||||||||||
| Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||||||||||||||||||
| Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||||||||||||||||||||
| Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||||||||
| The following table shows by level, within the fair value hierarchy, the fair value of the Company’s assets that are measured and recorded at fair value on a recurring basis: | |||||||||||||||||||||||||||||||||
| 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
| Total | Level | Level | Level | Total | Level | Level | Level | ||||||||||||||||||||||||||
| 1 | 2 | 3 | 1 | 2 | 3 | ||||||||||||||||||||||||||||
| Money market funds included in cash and cash equivalents | $ | 4,541,200 | $ | 4,541,200 | $ | - | $ | - | $ | 1,239,500 | $ | 1,239,500 | $ | - | $ | - | |||||||||||||||||
| Total | $ | 4,541,200 | $ | 4,541,200 | $ | - | $ | - | $ | 1,239,500 | $ | 1,239,500 | $ | - | $ | - | |||||||||||||||||
| As of September 30, 2013 and December 31, 2012, there were no liabilities that were required to be measured and recorded at fair value on a recurring basis. | |||||||||||||||||||||||||||||||||
| Assets Measured and Recorded at Fair Value on a Nonrecurring Basis | |||||||||||||||||||||||||||||||||
| The Company determines fair value of long-lived assets held and used, such as aircraft and aircraft engines held for lease and held for sale, by reference to independent appraisals, quoted market prices (e.g., offers to purchase) and other factors. An impairment charge is recorded when the Company believes that the carrying value of an asset will not be recovered through future net cash flows and that the carrying value exceeds its fair value. During the three months and nine months ended September 30, 2013 and 2012, there were no recorded impairments of long-lived assets. | |||||||||||||||||||||||||||||||||
| Fair Value of Other Financial Instruments | |||||||||||||||||||||||||||||||||
| The Company’s financial instruments, other than cash and cash equivalents, consist principally of finance leases receivable and amounts borrowed under its credit facility (the “Credit Facility,” as defined in Note 4). The fair value of accounts receivable, finance leases receivable, accounts payable and the refundable reserves portion of the Company’s maintenance reserves and accrued maintenance costs approximates the carrying value of these financial instruments. | |||||||||||||||||||||||||||||||||
| Borrowings under the Company’s Credit Facility bear floating rates of interest that reset periodically to a market benchmark rate plus a credit margin. The Company believes the effective interest rate of this debt agreement approximates current market rates for such indebtedness at the balance sheet date, and therefore that the carrying amount of its floating rate debt at the balance sheet dates approximates its fair value. The fair value of the Company’s outstanding balance of its Credit Facility would be categorized as Level 3 under the GAAP fair value hierarchy. | |||||||||||||||||||||||||||||||||
| Finance Leases | ' | ||||||||||||||||||||||||||||||||
| (d)Finance Leases | |||||||||||||||||||||||||||||||||
| The leases for one of the Company’s aircraft and two engines contain lessee purchase options at prices substantially below the assets’ estimated residual values at the exercise date for the option. Consequently, the Company considers the purchase options to be “bargain purchase options” and has classified such leases as finance leases for financial accounting purposes. The Company does not include the value, purchase price or accumulated depreciation of finance lease assets on its balance sheet. Instead, the discounted present value of (i) future minimum lease payments (including the bargain purchase option) and (ii) any residual value not subject to a bargain purchase option are reported as a finance lease receivable. Rental revenue and depreciation expense are not recognized on finance leases. Rather, the Company accrues interest on the balance of the finance leases receivable based on the interest rate inherent in the applicable lease. The Company recognized interest earned on finance leases as “other income” in the amount of $37,100 and $21,800 in the quarters ended September 30, 2013 and 2012, respectively, and $102,100 and $67,800 in the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||
Organization_and_Summary_of_Si2
| Organization and Summary of Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
| Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
| Organization and Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||||||||
| Assets measured at fair value on recurring basis | ' | ||||||||||||||||||||||||||||||||
| The following table shows by level, within the fair value hierarchy, the fair value of the Company’s assets that are measured and recorded at fair value on a recurring basis: | |||||||||||||||||||||||||||||||||
| 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||
| Total | Level | Level | Level | Total | Level | Level | Level | ||||||||||||||||||||||||||
| 1 | 2 | 3 | 1 | 2 | 3 | ||||||||||||||||||||||||||||
| Money market funds included in cash and cash equivalents | $ | 4,541,200 | $ | 4,541,200 | $ | - | $ | - | $ | 1,239,500 | $ | 1,239,500 | $ | - | $ | - | |||||||||||||||||
| Total | $ | 4,541,200 | $ | 4,541,200 | $ | - | $ | - | $ | 1,239,500 | $ | 1,239,500 | $ | - | $ | - | |||||||||||||||||
Aircraft_and_Aircraft_Engines_1
| Aircraft and Aircraft Engines Held for Lease or Sale (Tables) | 9 Months Ended | ||||||||||||||||
| Sep. 30, 2013 | |||||||||||||||||
| Aircraft and Aircraft Engines Held for Lease or Sale [Abstract] | ' | ||||||||||||||||
| Aircraft and aircraft engines held for lease | ' | ||||||||||||||||
| At September 30, 2013 and December 31, 2012, the Company’s aircraft and aircraft engines, which were on lease or held for lease, consisted of the following: | |||||||||||||||||
| 30-Sep-13 | 31-Dec-12 | ||||||||||||||||
| Number | % of net | Number | % of net | ||||||||||||||
| Model | owned | book value | owned | book value | |||||||||||||
| Bombardier Dash-8-300 | 9 | 26 | % | 9 | 25 | % | |||||||||||
| Fokker 100 | 7 | 22 | % | 7 | 22 | % | |||||||||||
| Bombardier Dash-8-Q400 | 3 | 19 | % | 3 | 19 | % | |||||||||||
| Fokker 50 | 11 | 12 | % | 13 | 14 | % | |||||||||||
| Saab 340B Plus | 6 | 9 | % | 4 | 6 | % | |||||||||||
| General Electric CF34-8E5 engine | 3 | 7 | % | 3 | 7 | % | |||||||||||
| Saab 340B | 4 | 4 | % | 5 | 5 | % | |||||||||||
| Tay 650-15 engine | 2 | 1 | % | - | - | ||||||||||||
| General Electric CT7-9B engine | 2 | - | 1 | - | |||||||||||||
| Saab 340A | 1 | - | 1 | - | |||||||||||||
| deHavilland DHC-8-100 | - | - | 1 | 1 | % | ||||||||||||
| deHavilland DHC-6 | - | - | 1 | 1 | % | ||||||||||||
Maintenance_Reserves_and_Accru1
| Maintenance Reserves and Accrued Maintenance Costs (Tables) | 9 Months Ended | ||||||||
| Sep. 30, 2013 | |||||||||
| Maintenance Reserves and Accrued Maintenance Costs [Abstract] | ' | ||||||||
| Summary of the company's maintenance reserves and accruals | ' | ||||||||
| At September 30, 2013 and December 31, 2012, the Company’s maintenance reserves and accrued maintenance costs consisted of the following: | |||||||||
| September 30, | December 31, | ||||||||
| 2013 | 2012 | ||||||||
| Refundable maintenance reserves | $ | 9,711,600 | $ | 14,477,400 | |||||
| Accrued maintenance costs | 2,669,700 | 878,700 | |||||||
| $ | 12,381,300 | $ | 15,356,100 | ||||||
| Additions to and deductions from the company's accrued maintenance cost for aircraft maintenance | ' | ||||||||
| Additions to and deductions from the Company’s accrued maintenance costs during the nine months ended September 30, 2013 and 2012 for aircraft maintenance were as follows: | |||||||||
| For the Nine Months Ended | |||||||||
| September 30, | |||||||||
| 2013 | 2012 | ||||||||
| Balance, beginning of period | $ | 878,700 | $ | 1,013,400 | |||||
| Additions: | |||||||||
| Charged to expense | 6,239,900 | 3,174,500 | |||||||
| Capital equipment | 384,800 | 52,300 | |||||||
| Accrued claims related to refundable maintenance reserves | 605,900 | 578,100 | |||||||
| Prepaid maintenance and other | 134,100 | 333,500 | |||||||
| Total additions | 7,364,700 | 4,138,400 | |||||||
| Deductions: | |||||||||
| Payments | 4,770,000 | 3,233,900 | |||||||
| Other | 803,700 | 292,400 | |||||||
| Total deductions | 5,573,700 | 3,526,300 | |||||||
| Net increase in accrued maintenance costs | 1,791,000 | 612,100 | |||||||
| Balance, end of period | $ | 2,669,700 | $ | 1,625,500 | |||||
Notes_Payable_and_Accrued_Inte1
| Notes Payable and Accrued Interest (Tables) | 9 Months Ended | ||||||||
| Sep. 30, 2013 | |||||||||
| Notes Payable and Accrued Interest [Abstract] | ' | ||||||||
| Notes payable and accrued interest | ' | ||||||||
| At September 30, 2013 and December 31, 2012, the Company’s notes payable and accrued interest consisted of the following: | |||||||||
| September 30, | December 31, | ||||||||
| 2013 | 2012 | ||||||||
| Credit Facility principal | $ | 64,500,000 | $ | 67,800,000 | |||||
| Credit Facility accrued interest | 32,400 | 65,700 | |||||||
| $ | 64,532,400 | $ | 67,865,700 | ||||||
Computation_of_Earnings_Per_Sh1
| Computation of Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
| Sep. 30, 2013 | |||||||||||||||||
| Computation of Earnings Per Share [Abstract] | ' | ||||||||||||||||
| Computation of earnings per share | ' | ||||||||||||||||
| Basic and diluted earnings per share are calculated as follows: | |||||||||||||||||
| For the Nine Months Ended September 30, | For the Three Months | ||||||||||||||||
| Ended September 30, | |||||||||||||||||
| 2013 | 2012 | 2013 | 2012 | ||||||||||||||
| Net income/(loss) | $ | 4,613,300 | $ | 3,398,500 | $ | (340,600 | ) | $ | 1,112,900 | ||||||||
| Weighted average shares outstanding for the period | 1,543,257 | 1,543,257 | 1,543,257 | 1,543,257 | |||||||||||||
| Dilutive effect of warrants | 44,072 | 17,196 | - | 21,800 | |||||||||||||
| Weighted average diluted shares used in calculation | 1,587,329 | 1,560,453 | 1,543,257 | 1,565,057 | |||||||||||||
| of diluted earnings/(loss) per share | |||||||||||||||||
| Basic earnings/(loss) per share | $ | 2.99 | $ | 2.2 | $ | (0.22 | ) | $ | 0.72 | ||||||||
| Diluted earnings/(loss) per share | $ | 2.91 | $ | 2.18 | $ | (0.22 | ) | $ | 0.71 | ||||||||
Related_Party_Transactions_Tab
| Related Party Transactions (Tables) | 9 Months Ended | ||||||||||||||||
| Sep. 30, 2013 | |||||||||||||||||
| Related Party Transactions [Abstract] | ' | ||||||||||||||||
| Related Party Fees | ' | ||||||||||||||||
| Fees incurred during the quarters and nine months ended September 30, 2013 and September 30, 2012 were as follows: | |||||||||||||||||
| For the Nine Months | For the Three Months | ||||||||||||||||
| Ended September 30, | Ended September 30, | ||||||||||||||||
| 2013 | 2012 | 2013 | 2012 | ||||||||||||||
| Management fees | $ | 3,218,500 | $ | 3,085,000 | $ | 1,054,000 | $ | 1,091,600 | |||||||||
| Acquisition fees | 236,000 | 894,000 | 88,000 | - | |||||||||||||
| Remarketing fees | 485,300 | 182,000 | 244,300 | 38,000 | |||||||||||||
Organization_and_Summary_of_Si3
| Organization and Summary of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||||
| Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
| Recurring [Member] | Recurring [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | |||||
| Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | Recurring [Member] | |||||||
| Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Money market funds included in cash and cash equivalents | ' | ' | ' | ' | $4,541,200 | $1,239,500 | $4,541,200 | $1,239,500 | $0 | $0 | $0 | $0 |
| Total | ' | ' | ' | ' | 4,541,200 | 1,239,500 | 4,541,200 | 1,239,500 | 0 | 0 | 0 | 0 |
| Liabilities recorded at fair value | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' |
| Write down of long-lived assets | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
| Finance Leases [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Interest earned on finance lease | $37,100 | $21,800 | $102,100 | $67,800 | ' | ' | ' | ' | ' | ' | ' | ' |
Aircraft_and_Aircraft_Engines_2
| Aircraft and Aircraft Engines Held for Lease or Sale (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 3 Months Ended | |||||||||||||||||||||||
| Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Oct. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
| Aircraft | Aircraft | Bombardier Dash-8-300 [Member] | Bombardier Dash-8-300 [Member] | Fokker 100 [Member] | Fokker 100 [Member] | Fokker 100 [Member] | Bombardier Dash-8-Q400 [Member] | Bombardier Dash-8-Q400 [Member] | Fokker 50 [Member] | Fokker 50 [Member] | Fokker 50 [Member] | General Electric CF34-8E5 engine [Member] | General Electric CF34-8E5 engine [Member] | Saab 340B [Member] | Saab 340B [Member] | Saab 340B Plus [Member] | Saab 340B Plus [Member] | deHavilland DHC-8-100 [Member] | deHavilland DHC-8-100 [Member] | deHavilland DHC-6 [Member] | deHavilland DHC-6 [Member] | Tay 650-15 engine [Member] | Tay 650-15 engine [Member] | General Electric CT7-9B engine [Member] | General Electric CT7-9B engine [Member] | Saab 340 A [Member] | Saab 340 A [Member] | |||
| Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Aircraft | Engine | Aircraft | Aircraft | Aircraft | |||||
| Engine | Engine | Aircraft | ||||||||||||||||||||||||||||
| Aircraft and aircraft engines held for lease or sale [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Number owned | ' | ' | ' | ' | 9 | 9 | ' | 7 | 7 | 3 | 3 | 11 | 11 | 13 | 3 | 3 | 4 | 5 | 6 | 4 | 0 | 1 | 0 | 1 | 2 | 0 | 2 | 1 | 1 | 1 |
| Percentage of net book value (in hundredths) | ' | ' | ' | ' | 26.00% | 25.00% | ' | 22.00% | 22.00% | 19.00% | 19.00% | 12.00% | 12.00% | 14.00% | 7.00% | 7.00% | 4.00% | 5.00% | 9.00% | 6.00% | 0.00% | 1.00% | 0.00% | 1.00% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Payment for equipment and acquisition costs related to aircraft purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,545,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Bad debt expense | 357,600 | 0 | 357,600 | 310,300 | ' | ' | 357,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Number of aircraft returned | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Number of company's aircrafts sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' |
| Lease term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Number of entity aircraft off lease | 14 | ' | 14 | ' | ' | ' | 1 | 7 | ' | ' | ' | 4 | 4 | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | 2 | ' | 2 | ' | ' | ' |
| Number of aircrafts engines not sought for re-lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' |
| Re-lease opportunities for the off-lease aircraft (in hundredths) | 27.00% | ' | 27.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
| Number of engines held for sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' |
| Gain on sale of aircraft | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 523,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,461,800 | ' | ' | ' | ' | ' | ' | ' |
| Proceeds from sale of assets | $73,600 | ' | $73,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maintenance_Reserves_and_Accru2
| Maintenance Reserves and Accrued Maintenance Costs (Details) (USD $) | 12 Months Ended | |||
| Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2011 | |
| Lease | ||||
| Maintenance Reserves and Accrued Maintenance Costs [Abstract] | ' | ' | ' | ' |
| Proceeds from lease payments included in refundable maintenance reserves | $6,528,500 | ' | ' | ' |
| Number of aircraft leases assigned to new lessee | 2 | ' | ' | ' |
| Refundable maintenance reserves | 14,477,400 | 9,711,600 | ' | ' |
| Accrued maintenance costs | 878,700 | 2,669,700 | 1,625,500 | 1,013,400 |
| Total | $15,356,100 | $12,381,300 | ' | ' |
Maintenance_Reserves_and_Accru3
| Maintenance Reserves and Accrued Maintenance Costs (1) (Details) (USD $) | 9 Months Ended | |
| Sep. 30, 2013 | Sep. 30, 2012 | |
| Accrued maintenance cost [Roll Forward] | ' | ' |
| Balance, beginning of period | $878,700 | $1,013,400 |
| Additions [Abstract] | ' | ' |
| Charged to expense | 6,239,900 | 3,174,500 |
| Capital equipment | 384,800 | 52,300 |
| Accrued claims related to refundable maintenance reserves | 605,900 | 578,100 |
| Prepaid maintenance and other | 134,100 | 333,500 |
| Total additions | 7,364,700 | 4,138,400 |
| Deductions [Abstract] | ' | ' |
| Payments | 4,770,000 | 3,233,900 |
| Other | 803,700 | 292,400 |
| Total deductions | 5,573,700 | 3,526,300 |
| Net increase in accrued maintenance costs | 1,791,000 | 612,100 |
| Balance, end of period | $2,669,700 | $1,625,500 |
Notes_Payable_and_Accrued_Inte2
| Notes Payable and Accrued Interest (Details) (USD $) | 9 Months Ended | ||
| Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | |
| Notes Payable and Accrued Interest [Abstract] | ' | ' | ' |
| Notes payable and accrued interest | $64,532,400 | ' | $67,865,700 |
| Credit Facility [Member] | ' | ' | ' |
| Notes Payable and Accrued Interest [Abstract] | ' | ' | ' |
| Credit Facility principal | 64,500,000 | ' | 67,800,000 |
| Credit Facility accrued interest | 32,400 | ' | 65,700 |
| Notes payable and accrued interest | 64,532,400 | ' | 67,865,700 |
| Credit Facility [Abstract] | ' | ' | ' |
| Credit facility, borrowing capacity replaced | ' | 90,000,000 | ' |
| Credit facility maximum borrowing capacity | ' | 130,000,000 | ' |
| Expiration date | 30-Sep-15 | ' | ' |
| Unused amount of the credit facility | 65,500,000 | ' | 22,200,000 |
| Available borrowing capacity | $16,517,500 | ' | $1,113,500 |
| Weighted average interest rate on credit facility (in hundredths) | 3.94% | ' | 4.00% |
Computation_of_Earnings_Per_Sh2
| Computation of Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
| Basic and diluted earning/loss per share [Abstract] | ' | ' | ' | ' |
| Net income/(loss) | ($340,600) | $1,112,900 | $4,613,300 | $3,398,500 |
| Weighted average shares outstanding for the period (in shares) | 1,543,257 | 1,543,257 | 1,543,257 | 1,543,257 |
| Dilutive effect of warrants (in shares) | 0 | 21,800 | 44,072 | 17,196 |
| Weighted average diluted shares used in calculation of diluted earnings/(loss) per share (in shares) | 1,543,257 | 1,565,057 | 1,587,329 | 1,560,453 |
| Basic earnings/(loss) per share (in dollars per share) | ($0.22) | $0.72 | $2.99 | $2.20 |
| Diluted earnings/(loss) per share (in dollars per share) | ($0.22) | $0.71 | $2.91 | $2.18 |
| Warrant [Member] | ' | ' | ' | ' |
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
| Potentially outstanding shares was not included in the calculation of diluted loss per share (in shares) | 46,907 | ' | ' | ' |
Related_Party_Transactions_Det
| Related Party Transactions (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
| Mr. Beaumont [Member] | ' | ' | ' | ' |
| Related Party Transaction [Line Items] | ' | ' | ' | ' |
| Minimum percentage of open market of shares representing common stock (in hundredths) | 5.00% | ' | 5.00% | ' |
| Payments to related party | ' | $66,700 | ' | ' |
| Jet Fleet Management Corp. [Member] | ' | ' | ' | ' |
| Related Party Transaction [Line Items] | ' | ' | ' | ' |
| Recorded management fees | 1,054,000 | 1,091,600 | 3,218,500 | 3,085,000 |
| Acquisition fees paid | 88,000 | 0 | 236,000 | 894,000 |
| Remarketing fees | $244,300 | $38,000 | $485,300 | $182,000 |
| Subordinated Notes Purchasers [Member] | ' | ' | ' | ' |
| Related Party Transaction [Line Items] | ' | ' | ' | ' |
| Warrants became exercisable date | ' | ' | 30-Dec-11 | ' |
| Minimum percentage of common stock issued upon exercise of warrants (in hundredths) | 5.00% | ' | 5.00% | ' |
Subsequent_Events_Details
| Subsequent Events (Details) (Subsequent Event [Member], Romania [Member]) | 1 Months Ended |
| Oct. 31, 2013 | |
| Aircraft | |
| Subsequent Event [Member] | Romania [Member] | ' |
| Subsequent Event [Line Items] | ' |
| Number of aircrafts leased to a new customer | 1 |
| Lease term | '3 years |