Aircastle (AYR) 10-Q 12 Jan 23 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Nov. 30, 2022	Jan. 06, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 30, 2022
Document Transition Report	false
Entity File Number	001-32959
Entity Registrant Name	AIRCASTLE LIMITED
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-0444035
Entity Address, Address Line One	c/o Aircastle Advisor LLC
Entity Address, Address Line Two	201 Tresser Boulevard, Suite 400
Entity Address, City or Town	Stamford
Entity Address, State or Province	CT
City Area Code	203
Local Phone Number	504-1020
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		14,048
Entity Central Index Key	0001362988
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--02-28
Entity Address, Postal Zip Code	06901
Common Shares
Document Information [Line Items]
Title of 12(b) Security	Common Shares, par value $0.01 per share
Security Exchange Name	NONE
No Trading Symbol Flag	true
Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Preference Shares, par value $0.01 per share
Security Exchange Name	NONE
No Trading Symbol Flag	true

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2022	Feb. 28, 2022
ASSETS
Cash and cash equivalents	$ 208,208	$ 167,891
Restricted cash and cash equivalents	0	2,791
Accounts receivable	39,087	63,666
Flight equipment held for lease, net	6,445,141	6,313,950
Net investment in leases, net	125,504	150,325
Unconsolidated equity method investment	40,097	38,317
Other assets	328,978	356,326
Total assets	7,187,015	7,093,266
LIABILITIES
Borrowings from secured financings, net	656,032	684,039
Borrowings from unsecured financings, net	3,842,816	3,835,841
Accounts payable, accrued expenses and other liabilities	208,273	177,424
Lease rentals received in advance	52,688	37,361
Security deposits	64,856	69,189
Maintenance payments	494,058	459,713
Total liabilities	5,318,723	5,263,567
Commitments and Contingencies
SHAREHOLDERS’ EQUITY
Preference shares, $0.01 par value, 50,000,000 shares authorized, 400 (aggregate liquidation preference of $400,000) shares issued and outstanding at November 30, 2022 and February 28, 2022	0	0
Common shares, $0.01 par value, 250,000,000 shares authorized, 14,048 shares issued and outstanding at November 30, 2022 and February 28, 2022	0	0
Additional paid-in capital	1,878,774	1,878,774
Accumulated deficit	(10,482)	(49,075)
Total shareholders’ equity	1,868,292	1,829,699
Total liabilities and shareholders’ equity	$ 7,187,015	$ 7,093,266

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Nov. 30, 2022	Feb. 28, 2022
Statement of Financial Position [Abstract]
Preference shares, par value	$ 0.01	$ 0.01
Preference shares, shares authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	400	400
Preferred Stock, Shares Outstanding	400	400
Preferred Stock, Liquidation Preference, Value	$ 400,000	$ 400,000
Common shares, par value	$ 0.01	$ 0.01
Common shares, shares authorized	250,000,000	250,000,000
Common shares, shares issued	14,048	14,048
Common shares, shares outstanding	14,048	14,048

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Revenues:
Lease rental revenue	$ 142,336	$ 156,088	$ 432,988	$ 425,802
Direct financing and sales-type lease revenue	2,087	2,724	6,950	8,377
Amortization of lease premiums, discounts and incentives	(3,763)	(8,867)	(14,669)	(20,026)
Maintenance revenue	56,574	33,510	103,787	81,204
Total lease revenue	197,234	183,455	529,056	495,357
Gain on sale of flight equipment	53,473	7,420	67,209	17,944
Other revenue	6,809	605	10,394	1,641
Total revenues	257,516	191,480	606,659	514,942
Operating expenses:
Depreciation	82,872	84,526	246,296	250,308
Interest, net	50,757	50,515	151,638	163,965
Selling, general and administrative	17,999	17,141	55,358	48,714
Provision for credit losses	854	958	1,543	970
Impairment of flight equipment	29,880	69,111	67,979	110,926
Maintenance and other costs	3,783	8,660	17,010	24,275
Total operating expenses	186,145	230,911	539,824	599,158
Other income (expense):
Loss on extinguishment of debt	0	0	(463)	(14,156)
Other	1,201	63	3,273	57,682
Total other income	1,201	63	2,810	43,526
Income (loss) from continuing operations before income taxes and earnings of unconsolidated equity method investment	72,572	(39,368)	69,645	(40,690)
Income tax provision	23,071	23,504	22,332	22,877
Earnings of unconsolidated equity method investment, net of tax	603	465	1,780	1,210
Net income (loss)	50,104	(62,407)	49,093	(62,357)
Preference share dividends	0	0	(10,500)	(5,658)
Earnings available to common shareholders – Basic	50,104	(62,407)	38,593	(68,015)
Total comprehensive income (loss) available to common shareholders	$ 50,104	$ (62,407)	$ 38,593	$ (68,015)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Cash flows from operating activities:
Net income (loss)	$ 50,104	$ (62,407)	$ 49,093	$ (62,357)
Adjustments to reconcile net income (loss) to net cash and restricted cash provided by operating activities:
Depreciation	82,872	84,526	246,296	250,308
Amortization of deferred financing costs			10,612	12,483
Amortization of lease premiums, discounts and incentives	3,763	8,867	14,669	20,026
Deferred income taxes			13,227	8,998
Collections on net investment in leases			5,444	11,727
Security deposits and maintenance payments included in earnings			(35,437)	(58,480)
Gain on sale of flight equipment	(53,473)	(7,420)	(67,209)	(17,944)
Loss on extinguishment of debt	0	0	463	14,156
Impairment of flight equipment	29,880	69,111	67,979	110,926
Provision for credit losses	854	958	1,543	970
Other			(1,778)	(1,210)
Changes in certain assets and liabilities:
Accounts receivable			11,368	4,059
Other assets			2,223	(23,305)
Accounts payable, accrued expenses and other liabilities			8,947	7,205
Lease rentals received in advance			16,091	(6,127)
Net cash and restricted cash provided by operating activities			343,531	271,435
Cash flows from investing activities:
Acquisition and improvement of flight equipment			(688,722)	(533,741)
Proceeds from sale of flight equipment			334,164	127,584
Aircraft purchase deposits and progress payments, net of deposits returned and aircraft sales deposits			7,765	(11,361)
Payments for (Proceeds from) Other Investing Activities			1,500	(64)
Net cash and restricted cash used in investing activities			(345,293)	(417,582)
Cash flows from financing activities:
Proceeds from Issuance of Preferred Stock and Preference Stock			0	393,347
Proceeds from secured and unsecured debt financings			139,800	0
Repayments of secured and unsecured debt financings			(163,543)	(566,885)
Debt extinguishment costs			(291)	(13,372)
Deferred financing costs			(8,674)	(5,170)
Security deposits and maintenance payments received			110,675	63,012
Security deposits and maintenance payments returned			(17,679)	(20,696)
Dividends paid			(21,000)	(5,658)
Net cash and restricted cash provided by (used in) financing activities			39,288	(155,422)
Net increase in cash and restricted cash:			37,526	(301,569)
Cash and restricted cash at beginning of period			170,682	580,598
Cash and restricted cash at end of period	208,208	279,029	208,208	279,029
Cash and cash equivalents	208,208	276,289	208,208	276,289
Restricted cash and cash equivalents	0	2,740	0	2,740
Unrestricted and restricted cash and cash equivalents	$ 208,208	$ 279,029	208,208	279,029
Supplemental disclosures of cash flow information:
Cash paid for interest, net of amounts capitalized			138,999	151,743
Cash paid for income taxes			4,602	308
Supplemental disclosures of non-cash investing activities:
Advance lease rentals, security deposits, maintenance payments, other liabilities and other assets assumed in asset acquisitions			4,005	11,570
Advance lease rentals, security deposits, maintenance payments, other liabilities and other assets settled in sale of flight equipment			18,672	14,765
Transfers from flight equipment held for lease to Net investment in leases and Other assets			$ 1,695	$ 22,134

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity Statement - USD ($) $ in Thousands	Total	Common Shares	Preferred Stock	Additional Paid-In Capital	Accumulated Deficit
Preferred Stock, Shares Outstanding			0
Balance, shares at Feb. 28, 2021		14,048
Balance at Feb. 28, 2021	$ 1,731,070	$ 0	$ 0	$ 1,485,777	$ 245,293
Net income (loss)	(9,753)
Balance, shares at May. 31, 2021		14,048
Balance at May. 31, 2021	1,721,317	$ 0	0	1,485,777	235,540
Balance, shares at Feb. 28, 2021		14,048
Balance at Feb. 28, 2021	1,731,070	$ 0	0	1,485,777	245,293
Net income (loss)	(62,357)
Balance, shares at Nov. 30, 2021		14,048
Balance at Nov. 30, 2021	2,056,052	$ 0	$ 0	1,878,774	177,278
Preferred Stock, Shares Outstanding			0
Balance, shares at May. 31, 2021		14,048
Balance at May. 31, 2021	1,721,317	$ 0	$ 0	1,485,777	235,540
Net income (loss)	9,803
Stock Issued During Period, Value, New Issues	393,362			393,362
Stock Issued During Period, Shares, New Issues			400
Balance, shares at Aug. 31, 2021		14,048
Balance at Aug. 31, 2021	2,118,824	$ 0	$ 0	1,879,139	239,685
Dividends, Preferred Stock	(5,658)				(5,658)
Preferred Stock, Shares Outstanding			400
Net income (loss)	(62,407)
Stock Issued During Period, Value, New Issues	(365)			(365)
Balance, shares at Nov. 30, 2021		14,048
Balance at Nov. 30, 2021	$ 2,056,052	$ 0	$ 0	1,878,774	177,278
Preferred Stock, Shares Outstanding			400
Preferred Stock, Shares Outstanding	400		400
Balance, shares at Feb. 28, 2022	14,048	14,048
Balance at Feb. 28, 2022	$ 1,829,699	$ 0	$ 0	1,878,774	(49,075)
Net income (loss)	7,682
Balance, shares at May. 31, 2022		14,048
Balance at May. 31, 2022	$ 1,837,381	$ 0	0	1,878,774	(41,393)
Balance, shares at Feb. 28, 2022	14,048	14,048
Balance at Feb. 28, 2022	$ 1,829,699	$ 0	0	1,878,774	(49,075)
Net income (loss)	$ 49,093
Balance, shares at Nov. 30, 2022	14,048	14,048
Balance at Nov. 30, 2022	$ 1,868,292	$ 0	$ 0	1,878,774	(10,482)
Preferred Stock, Shares Outstanding			400
Balance, shares at May. 31, 2022		14,048
Balance at May. 31, 2022	1,837,381	$ 0	$ 0	1,878,774	(41,393)
Net income (loss)	(8,693)
Balance, shares at Aug. 31, 2022		14,048
Balance at Aug. 31, 2022	1,818,188	$ 0	$ 0	1,878,774	(60,586)
Dividends, Preferred Stock	(10,500)				(10,500)
Preferred Stock, Shares Outstanding			400
Net income (loss)	$ 50,104
Balance, shares at Nov. 30, 2022	14,048	14,048
Balance at Nov. 30, 2022	$ 1,868,292	$ 0	$ 0	$ 1,878,774	$ (10,482)
Dividends, Preferred Stock	$ (10,500)
Preferred Stock, Shares Outstanding	400		400

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Nov. 30, 2022
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	Summary of Significant Accounting Policies Organization Aircastle Limited (“Aircastle,” the “Company,” “we,” “us” or “our”) is a Bermuda exempted company that was incorporated on October 29, 2004 under the provisions of Section 14 of the Companies Act of 1981 of Bermuda. Aircastle’s business consists of acquiring, leasing, managing and selling commercial jet aircraft. The Company is controlled by affiliates of Marubeni Corporation (“Marubeni”) and Mizuho Leasing Company, Limited (“Mizuho Leasing”). Aircastle is a holding company and conducts its business through subsidiaries that are wholly-owned, either directly or indirectly, by Aircastle. Basis of Presentation and Principles of Consolidation The consolidated financial statements presented are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The accompanying consolidated financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting and, in our opinion, reflect all adjustments, including normal recurring items, which are necessary to present fairly the results for interim periods. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the entire year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted in accordance with the rules and regulations of the SEC. However, we believe that the disclosures are adequate to make the information presented not misleading. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended February 28, 2022. The consolidated financial statements include the accounts of Aircastle and all its subsidiaries, including any Variable Interest Entity (“VIE”) of which Aircastle is the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. We manage and analyze our business and report on our results of operations based on one operating segment: leasing, financing, selling and managing commercial flight equipment. Our Chief Executive Officer is the chief operating decision maker. The Company’s management has reviewed and evaluated all events or transactions for potential recognition and/or disclosure subsequent to the balance sheet date of November 30, 2022, through the date on which the consolidated financial statements included in this Form 10-Q were issued. Risk and Uncertainties In the normal course of business, Aircastle encounters several significant types of economic risk including credit, market, aviation industry and capital market risks. Credit risk is the risk of a lessee’s inability or unwillingness to make contractually required payments and to fulfill its other contractual obligations to Aircastle. Market risk reflects the change in the value of financings due to changes in interest rate spreads or other market factors, including the value of collateral underlying financings. Aviation industry risk is the risk of a downturn in the commercial aviation industry which could adversely impact a lessee’s ability to make payments, increase the risk of early lease terminations and depress lease rates and the value of the Company’s aircraft. Capital market risk is the risk that the Company is unable to obtain capital at reasonable rates to fund the growth of its business or to refinance existing debt facilities. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. While Aircastle believes the estimates and related assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates. Lease Revenue Recognition We lease flight equipment under net operating leases with lease terms typically ranging from three In certain instances, we may provide lease concessions to customers, generally in the form of lease rental deferrals. While these deferral arrangements affect the timing of lease rental payments, the total amount of lease rental payments required over the lease term is generally the same as that which was required under the original lease agreement. We account for the deferrals as if no modifications to the lease agreements were made and record the deferred rentals as a receivable within other assets. Should we determine that the collectability of rental payments is no longer probable, including any deferral thereof, we will recognize lease rental revenue using a cash basis of accounting rather than an accrual method. In the period we conclude that collection of lease payments is no longer probable, we recognize any difference between revenue amounts recognized to date under the accrual method and payments that have been collected from the lessee, including security deposit amounts held, as a current period adjustment to lease rental revenue. Impairment of Flight Equipment We perform an annual recoverability assessment of all aircraft in our fleet, on an aircraft-by-aircraft basis. A recoverability assessment is also performed whenever events or changes in circumstances, or indicators, suggest that the carrying amount or net book value of an asset may not be recoverable. Indicators may include, but are not limited to, a significant lease restructuring or early lease termination, significant change in an aircraft type’s storage levels, the introduction of newer technology aircraft or engines, an aircraft type is no longer in production or a significant airworthiness directive is issued. When we perform a recoverability assessment, we measure whether the estimated future undiscounted net cash flows expected to be generated by the aircraft exceed its net book value. The undiscounted cash flows consist of cash flows from currently contracted lease rental and maintenance payments, future projected lease rates and maintenance payments, transition costs, estimated down time, and estimated residual or scrap values for an aircraft. In the event that an aircraft does not meet the recoverability test, the aircraft will be adjusted to fair value, resulting in an impairment charge. See Note 2 in the Notes to Unaudited Consolidated Financial Statements. Management develops the assumptions used in the recoverability analysis based on current and future expectations of the global demand for a particular aircraft type and historical experience in the aircraft leasing market and aviation industry, as well as information received from third party industry sources. The factors considered in estimating the undiscounted cash flows are impacted by changes in future periods due to changes in projected lease rental and maintenance payments, residual values, economic conditions, technology, airline demand for a particular aircraft type and other factors, such as the location of the aircraft and accessibility to records and technical documentation. We continue to closely monitor the impact of recent crises, such as the Russian invasion of Ukraine and the COVID-19 pandemic, on our customers, air traffic, lease rental rates, and aircraft valuations, and have and will continue to perform additional customer and aircraft specific reviews should changes in facts and circumstances arise that may impact the recoverability of our aircraft. We have and will focus on aircraft with near-term lease expirations, customers that have entered judicial insolvency proceedings and any additional customers that may become subject to similar-type proceedings, and certain other customers or aircraft variants that are more susceptible to the impact of the above crises and value deterioration. Recent Accounting Pronouncements In December 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2022-06 to defer the sunset date of Reference Rate Reform Topic 848 (“ASC 848”). U.S. GAAP requires

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Nov. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. The following tables set forth our financial assets as of November 30, 2022 and February 28, 2022 that we measured at fair value on a recurring basis by level within the fair value hierarchy. Assets measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Fair Value Measurements at November 30, 2022 Using Fair Value Hierarchy Fair Value as of November 30, 2022 Quoted Prices Significant Significant Valuation Assets: Cash and cash equivalents $ 208,208 $ 208,208 $ — $ — Market Total $ 208,208 $ 208,208 $ — $ — Fair Value Measurements at February 28, 2022 Using Fair Value Hierarchy Fair Value as of February 28, 2022 Quoted Prices Significant Significant Valuation Assets: Cash and cash equivalents $ 167,891 $ 167,891 $ — $ — Market Restricted cash and cash equivalents 2,791 2,791 — — Market Total $ 170,682 $ 170,682 $ — $ — Our cash and cash equivalents consist largely of money market securities that are highly liquid and easily tradable. These securities are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within our fair value hierarchy. We had no transfers into or out of Level 3 during the three and nine months ended November 30, 2022. We measure the fair value of certain assets and liabilities on a non-recurring basis when U.S. GAAP requires the application of fair value, including events or changes in circumstances that indicate the carrying amounts of these assets may not be recoverable. Assets subject to these measurements include our aircraft and investment in unconsolidated joint venture. We record aircraft at fair value when we determine the carrying value may not be recoverable. Fair value measurements for aircraft in impairment tests are based on the average of the market approach that uses Level 2 inputs, which include third party appraisal data and an income approach that uses Level 3 inputs, which include the Company’s assumptions and appraisal data as to future cash proceeds from leasing and selling aircraft discounted using the Company’s weighted average cost of capital. We account for our investment in unconsolidated joint venture under the equity method of accounting. Our investment is recorded at cost and is adjusted by undistributed earnings and losses and the distributions of dividends and capital. This investment is reviewed for impairment whenever events or changes in circumstances indicate the fair value is less than its carrying value and the decline is other-than-temporary. Aircraft Valuation Impairment of Flight Equipment During the three months ended November 30, 2022, the Company recorded impairment charges totaling $29.9 million related to two narrow-body aircraft resulting from a scheduled lease expiration and an early lease termination, as well as one wide-body aircraft resulting from our annual fleet review. The Company recognized $26.3 million of maintenance and lease rentals received in advance into revenue for the two narrow-body aircraft during the three months ended November 30, 2022. Excluding asset write-offs related to Russia, during the nine months ended November 30, 2022, the Company recorded impairment charges totaling $36.1 million primarily related to three narrow-body aircraft resulting from scheduled lease expirations and an early lease termination, as well as one wide-body aircraft resulting from our annual fleet review. The Company recognized $33.8 million of maintenance and lease rentals received in advance into revenue for the three narrow-body aircraft during the nine months ended November 30, 2022. The Company wrote off the remaining book values of eight narrow-body and one freighter aircraft in Russia which have not been returned to us. As a result, the Company recorded impairment charges totaling $31.9 million during the nine months ended November 30, 2022 – see Note 3 in the Notes to Unaudited Consolidated Financial Statements. During the nine months ended November 30, 2022, the Company recognized $20.3 million of maintenance and other revenue for these nine aircraft related to payments received on maintenance and general security letters of credit. During the three months ended November 30, 2021, the Company recorded impairment charges totaling $69.1 million related to two narrow-body and one wide-body aircraft, resulting from a lessee default. The Company recognized $24.3 million of maintenance revenue for these three aircraft. During the nine months ended November 30, 2021, the Company recorded impairment charges totaling $110.9 million, primarily related to six narrow-body and one wide-body aircraft resulting from early lease terminations, a scheduled lease expiration, and a lessee default. The Company recognized $61.4 million of maintenance revenue for these seven aircraft. Annual Recoverability Assessment We performed our annual recoverability assessment of all our aircraft during the third quarter of 2022. We recorded an impairment charge of $6.3 million related to one wide-body aircraft during the three and nine months ended November 30, 2022 as a result of our annual recoverability assessment – see the discussion above for further detail regarding impairment of our flight equipment. We continue to closely monitor the impact of recent crises, such as the Russian invasion of Ukraine and the COVID-19 pandemic, on our customers, air traffic, lease rental rates, and aircraft valuations, and have and will continue to perform additional customer and aircraft specific reviews should changes in facts and circumstances arise that may impact the recoverability of our aircraft. We have and will focus on aircraft with near-term lease expirations, customers that have entered judicial insolvency proceedings and any additional customers that may become subject to similar-type proceedings, and certain other customers or aircraft variants that are more susceptible to the impact of the above crises and value deterioration. The recoverability assessment is a comparison of the carrying value of each aircraft to its estimated undiscounted future cash flows. We develop the assumptions used in the recoverability assessment, including those relating to current and future demand for each aircraft type, based on management’s experience in the aircraft leasing industry, as well as information received from third-party sources. Estimates of the undiscounted cash flows for each aircraft type are impacted by changes in contracted and future expected lease rates, residual values, expected scrap values, economic conditions and other factors, such as the location of the aircraft and accessibility to records and technical documentation. If our estimates or assumptions change, including those related to our customers that have entered judicial insolvency proceedings, we may revise our cash flow assumptions and record future impairment charges. While we believe that the estimates and related assumptions used in our recoverability assessments are appropriate, actual results could differ from those estimates. Financial Instruments Our financial instruments, other than cash, consist principally of cash equivalents, accounts receivable, accounts payable and amounts borrowed under financings. The fair value of cash and cash equivalents, accounts receivable and accounts payable approximates the carrying value of these financial instruments because of their short-term nature. The fair value of our senior notes is estimated using quoted market prices. The fair values of all our other financings are estimated using a discounted cash flow analysis, based on our current incremental borrowing rates for similar types of borrowing arrangements. The carrying amounts and fair values of our financial instruments at November 30, 2022 and February 28, 2022 were as follows: November 30, 2022 February 28, 2022 Carrying Amount Fair Value Carrying Fair Value Credit Facilities $ 20,000 $ 20,000 $ 20,000 $ 20,000 Unsecured Term Loan 155,000 154,824 155,000 152,195 Export Credit Agency (“ECA”) Financings — — 21,576 21,931 Term Financings 664,091 641,679 666,258 675,667 Senior Notes 3,700,000 3,467,718 3,700,000 3,776,997 All our financial instruments are classified as Level 2 except for our senior notes, which are classified as Level 1.

Flight Equipment Held for Lease

Flight Equipment Held for Lease, Net	9 Months Ended
	Nov. 30, 2022
Property, Plant and Equipment [Abstract]
Flight Equipment Held for Lease, Net	Note 3. Flight Equipment Held for Lease, Net The following table summarizes the activities for the Company’s flight equipment held for lease for the nine months ended November 30, 2022: Amount Balance at February 28, 2022 $ 6,313,950 Additions 668,221 Depreciation (245,303) Disposals and transfers to net investment in leases and held for sale (226,766) Impairments (64,961) Balance at November 30, 2022 $ 6,445,141 Accumulated depreciation as of November 30, 2022 $ 2,250,527 Write-off of Russian Aircraft As of November 30, 2022, nine of our aircraft that were previously leased to Russian airlines remain in Russia. Most of the operators of these aircraft have continued to fly the aircraft notwithstanding the sanctions imposed on Russia and leasing terminations. While we will continue to pursue repossession, it is unlikely we will regain possession of any of these nine aircraft. As a result, the Company wrote off the remaining book value of these nine aircraft, resulting in impairment charges totaling $31.9 million during the nine months ended November 30, 2022. These nine aircraft have been removed from the Company’s owned fleet count. The Company is vigorously pursuing insurance claims to recover its losses relating to these aircraft and has initiated legal proceedings against its contingent and possessed insurers. The collection, timing and amounts of any insurance recoveries is uncertain. We also had one freighter aircraft outside of Russia that we successfully repossessed during the three months ended August 31, 2022. Additionally, in response to further sanctions against Russia in the United Kingdom (“U.K.”), the Company terminated the lease of one freighter aircraft with a U.K.-based airline and successfully repossessed that aircraft during the three months ended August 31, 2022. We recognized $18.1 million of maintenance and other revenue as a result of this lease termination. During the three months ended November 30, 2022, we sold these two freighter aircraft and one wide-body aircraft, which was also leased to a Russian airline, for gains totaling $53.5 million. We received $48.9 million of maintenance and general security letters of credit for our former Russian lessees during the nine months ended November 30, 2022 which we have recognized in maintenance and other revenue. We continue to pursue collection on the remaining letters of credit totaling $0.6 million.

Lease Rental Revenues and Fligh

Lease Rental Revenues and Flight Equipment Held for Lease	9 Months Ended
	Nov. 30, 2022
Leases [Abstract]
Lessor, Operating Leases [Text Block]	Note 4. Lease Rental Revenues Minimum future lease rentals contracted to be received under our existing operating leases of flight equipment at November 30, 2022 were as follows: Year Ending February 28/29, Amount (1) 2023 (Remainder of fiscal year) $ 149,970 2024 574,261 2025 486,026 2026 367,340 2027 306,136 Thereafter 900,082 Total $ 2,783,815 _______________ (1) Reflects impact of lessee lease rental deferrals. At November 30, 2022 and February 28, 2022, the amounts of lease incentive liabilities recorded in maintenance payments on our consolidated balance sheets were $20.2 million and $16.5 million, respectively.

Net Investment in Leases, Net

Net Investment in Leases, Net	9 Months Ended
	Nov. 30, 2022
Leases [Abstract]
Net Investment in Leases, Net	Net Investment in Leases, Net At November 30, 2022 and February 28, 2022, our net investment in leases consisted of eight and eleven aircraft, respectively. The components of our net investment in leases at November 30, 2022 and February 28, 2022, were as follows: November 30, 2022 February 28, 2022 Lease receivable $ 46,593 $ 52,021 Unguaranteed residual value of flight equipment 82,207 100,068 Net investment leases 128,800 152,089 Allowance for credit losses (3,296) (1,764) Net investment in leases, net $ 125,504 $ 150,325 The activity in the allowance for credit losses related to our net investment in leases for the nine months ended November 30, 2022 was as follows: Amount Balance at February 28, 2022 $ 1,764 Provision for credit losses 1,543 Write-offs (11) Balance at November 30, 2022 $ 3,296 At November 30, 2022, future lease payments on net investment in leases are as follows: Year Ending February 28/29, Amount 2023 (Remainder of fiscal year) $ 2,824 2024 11,343 2025 9,364 2026 8,233 2027 8,370 Thereafter 15,454 Total lease payments to be received 55,588 Present value of lease payments - lease receivable (46,593) Difference between undiscounted lease payments and lease receivable $ 8,995

Risks and Uncertainties

Risks and Uncertainties	9 Months Ended
	Nov. 30, 2022
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure	Note 6. Concentration of Risk The classification of regions in the tables below is based on our customers’ principal place of business. The geographic concentration of the net book value of our fleet (flight equipment held for lease and net investment in leases, or “Net Book Value”) as of November 30, 2022 and February 28, 2022 was as follows: November 30, 2022 February 28, 2022 Region Number Net Book Number Net Book Asia and Pacific 64 28 % 71 32 % Europe 90 30 % 98 30 % Middle East and Africa 9 3 % 10 4 % North America 37 20 % 36 17 % South America 28 14 % 25 13 % Off-lease 13 (1) 5 % 11 (2) 4 % Total 241 100 % 251 100 % _______________ (1) Of the thirteen off-lease aircraft at November 30, 2022, we have three narrow-body aircraft and three wide-body aircraft which we are currently marketing for lease or sale. (2) Of the eleven off-lease aircraft at February 28, 2022, we have one wide-body aircraft which we are currently marketing for lease or sale. The following table sets forth individual countries representing at least 10% of our Net Book Value as of November 30, 2022 and February 28, 2022: November 30, 2022 February 28, 2022 Country Net Book Net Book Number Net Book Net Book Number India (1) $ — —% — $ 670,523 10% 3 _______________ (1) As of November 30, 2022, India represented less than 10% of our Net Book Value. The geographic concentration of our lease rental revenue earned from flight equipment held for lease was as follows: Three Months Ended November 30, Nine Months Ended November 30, Region 2022 2021 2022 2021 Asia and Pacific 31 % 27 % 33 % 31 % Europe 30 % 31 % 29 % 34 % Middle East and Africa 5 % 5 % 5 % 5 % North America 21 % 15 % 19 % 15 % South America 13 % 22 % 14 % 15 % Total 100 % 100 % 100 % 100 % The following table shows the number of lessees with lease rental revenue of at least 5% of total lease rental revenue and their combined total percentage of lease rental revenue for the periods indicated: Three Months Ended November 30, Nine Months Ended November 30, 2022 2021 2022 2021 Number of Lessees Combined % of Lease Number of Lessees Combined % of Lease Number of Lessees Combined % of Lease Number of Lessees Combined % of Lease Largest lessees by lease rental revenue 4 25% 4 34% 4 27% 5 34% For the three months ended November 30, 2022, total revenue attributable to the United States was 29% and included $13.7 million of maintenance revenue and $47.0 million of gains on sales of aircraft. For the three months ended November 30, 2021, total revenue attributable to the United States was less than 10%. For the nine months ended November 30, 2022, total revenue attributable to the United States was 18% and included $13.9 million of maintenance revenue and $54.8 million of gains on sales of aircraft. For the nine months ended November 30, 2021, total revenue attributable to the United States was less than 10%.

Unconsolidated Equity Method In

Unconsolidated Equity Method Investment (Notes)	9 Months Ended
	Nov. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Unconsolidated Equity Method Investment	Unconsolidated Equity Method Investment We have a joint venture with Mizuho Leasing which has nine aircraft with a net book value of $288.6 million at November 30, 2022. Amount Unconsolidated equity method investment at February 28, 2022 $ 38,317 Earnings of unconsolidated equity method investment, net of tax 1,780 Unconsolidated equity method investment at November 30, 2022 $ 40,097 On June 30, 2022, the Company received full repayment of the unsecured loan facility it provided to the joint venture in the amount of $1.5 million.

Borrowings from Secured and Uns

Borrowings from Secured and Unsecured Debt Financings	9 Months Ended
	Nov. 30, 2022
Debt Disclosure [Abstract]
Borrowings from Secured and Unsecured Debt Financings	Borrowings from Secured and Unsecured Debt Financings The outstanding amounts of our secured and unsecured debt financings were as follows: At November 30, 2022 At February 28, 2022 Debt Obligation Outstanding Number of Aircraft Interest Rate Final Stated Outstanding Secured Debt Financings: ECA Financings (1) $ — — —% N/A $ 21,576 Term Financings (2) 664,091 32 2.36% to 5.69% 06/17/23 to 2/24/32 666,258 Less: Debt issuance costs and discounts (8,059) — (3,795) Total secured debt financings, net of debt issuance costs and discounts 656,032 32 684,039 Unsecured Debt Financings: Senior 5.00% Notes due 2023 500,000 5.00% 04/01/23 500,000 Senior 4.40% Notes due 2023 650,000 4.40% 09/25/23 650,000 Senior Notes due 2024 500,000 4.125% 05/01/24 500,000 Senior Notes due 2025 650,000 5.25% 08/11/25 650,000 Senior Notes due 2026 650,000 4.25% 06/15/26 650,000 Senior Notes due 2028 750,000 2.85% 01/26/28 750,000 Unsecured Term Loans 155,000 4.84% 02/27/24 155,000 Revolving Credit Facilities 20,000 4.78% 2/28/23 to 05/24/25 20,000 Less: Debt issuance costs and discounts (32,184) (39,159) Total unsecured debt financings, net of debt issuance costs and discounts 3,842,816 3,835,841 Total secured and unsecured debt financings, net of debt issuance costs and discounts $ 4,498,848 $ 4,519,880 (1) In May 2022, we repaid the principal and accrued interest outstanding under our remaining ECA Financing and incurred early extinguishment costs of $0.5 million. (2) The borrowings under these financings at November 30, 2022 have a weighted-average fixed rate of interest of 4.02%. Secured Debt Financings: Term Financings On November 21, 2022 (“the “Effective Date”), we entered into a full recourse $450.0 million secured financing facility (the “2022 Secured Facility”) with a syndicate of banks in relation to seventeen owned aircraft. The 2022 Secured Facility bears interest at a floating rate under the Term Secured Overnight Funding Rate (“SOFR”) (as defined in the credit agreement governing the 2022 Secured Facility) plus 2.35% per annum and matures on November 21, 2029. The 2022 Secured Facility contains, among other customary provisions, a $1.1 billion minimum net worth covenant, a 2.0:1.0 minimum interest coverage ratio covenant, and a 75% maximum loan-to-value ratio, which reduces to 70% through the term of the facility. The credit commitments under the 2022 Secured Facility will be available for borrowings for three to six months following the Effective Date. As of November 30, 2022, no amounts were borrowed under the 2022 Secured Facility. Unsecured Debt Financings: Revolving Credit Facilities On May 24, 2022, we entered into an amendment for one of our unsecured revolving credit facilities that expanded the size and extended the term of the facility. As a result, the existing $230.0 million commitment was expanded to $280.0 million, with $35.0 million and $245.0 million of the commitment allocated to Tranche B and Tranche C, respectively. Tranche B will mature on February 28, 2023 and Tranche C will mature on May 24, 2025. Tranche A matured on its stated maturity date of December 27, 2021. On June 27, 2022, a $100.0 million commitment under one of our unsecured revolving credit facilities, with a total commitment of $1.0 billion, matured on its stated maturity date. On September 8, 2022, we entered into an amendment that expanded the size of the facility from $900.0 million to $1.0 billion and replaced LIBOR with Term SOFR as the benchmark interest rate. The facility bears interest at Adjusted Term SOFR (as defined in the amendment to the credit agreement) plus 1.625% per annum and matures on April 26, 2025. On July 30, 2022, a $50.0 million commitment under our revolving credit facility with Mizuho Bank Ltd., a related party, matured on its stated maturity date. As of November 30, 2022, we had $20.0 million outstanding under our revolving credit facilities and had $1.4 billion available for borrowing. As of November 30, 2022, we were in compliance with all applicable covenants in our financings.

Shareholders_ Equity

Shareholders’ Equity	9 Months Ended
	Nov. 30, 2022
Equity [Abstract]
Shareholders’ Equity	Shareholders' Equity On March 15, 2022, the Company paid a quarterly dividend in the amount of $10.5 million for its Preference Shares, which was approved by the Company’s Board of Directors on January 6, 2022, and accrued as of February 28, 2022. On September 15, 2022, the Company paid a quarterly dividend in the amount of $10.5 million for its Preference Shares, which was approved by the Company’s Board of Directors on July 6, 2022, and accrued as of August 31, 2022.

Related Party Disclosures

Related Party Disclosures	9 Months Ended
	Nov. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsThe Company incurred fees from Marubeni as part of its intra-company service agreement totaling $1.3 million and $1.0 million during the three months ended November 30, 2022 and 2021, respectively, and $3.9 million and $2.9 million during the nine months ended November 30, 2022 and 2021, respectively, whereby Marubeni provides certain management and administrative services to the Company. In addition, the Company purchased parts under a parts management services and supply agreement with an affiliate of Marubeni totaling $0.4 million and $2.7 million during the three months ended November 30, 2022 and 2021, respectively, and $3.7 million and $4.6 million during the nine months ended November 30, 2022 and 2021, respectively

Income Taxes

Income Taxes	9 Months Ended
	Nov. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesIncome taxes have been provided for based upon the tax laws and rates in countries in which our operations are conducted and income is earned. The Company received assurance from the Bermuda Minister of Finance that it would be exempted from local income, withholding and capital gains taxes until March 2035. Consequently, the provision for income taxes relates to income earned by certain subsidiaries of the Company which are located in, or earn income in, jurisdictions that impose income taxes, primarily the United States and Ireland. The sources of income (loss) from continuing operations before income taxes and earnings of our unconsolidated equity method investment for the three and nine months ended November 30, 2022 and 2021 were as follows: Three Months Ended November 30, Nine Months Ended November 30, 2022 2021 2022 2021 U.S. operations $ 5,868 $ 6,218 $ 15,994 $ 14,408 Non-U.S. operations 66,704 (45,586) 53,651 (55,098) Income (loss) from continuing operations before income taxes and earnings of unconsolidated equity method investment $ 72,572 $ (39,368) $ 69,645 $ (40,690) Our aircraft-owning subsidiaries generally earn income from sources outside the U.S. and typically are not subject to U.S. federal, state or local income taxes. The aircraft owning subsidiaries resident in the U.S. and Ireland are subject to tax in those respective jurisdictions. We have a U.S.-based subsidiary which provides management services to our subsidiaries and is subject to U.S. federal, state and local income taxes. We also have Ireland and Singapore based subsidiaries which provide management services to our non-U.S. subsidiaries and are subject to tax in those respective jurisdictions. The Company’s effective tax rate (“ETR”) for the three months ended November 30, 2022 and 2021 was 31.8% and (59.7)%, respectively, and for the nine months ended November 30, 2022 and 2021 was 32.1% and (56.2)%, respectively. The movement in the ETR is primarily caused by changes in the mix of the Company’s pre-tax income/(loss) in its taxable and non-tax jurisdictions. The nine months ended November 30, 2022 included gains on sales of aircraft that were recorded in a low tax jurisdiction. The nine months ended November 30, 2021 included certain net non-cash impairment charges and income from the sale of unsecured claims filed by the Company against LATAM Airlines Group S.A. and certain of its subsidiaries (“LATAM”) in respect of LATAM’s Chapter 11 filing (the “LATAM Bankruptcy”), which were recorded in a low tax jurisdiction.

Interest, Net

Interest, Net	9 Months Ended
	Nov. 30, 2022
Interest Income (Expense), Net [Abstract]
Interest Net	Interest, Net The following table shows the components of interest, net: Three Months Ended November 30, Nine Months Ended November 30, 2022 2021 2022 2021 Interest on borrowings and other liabilities $ 49,436 $ 47,152 $ 145,069 $ 153,287 Amortization of deferred financing fees and debt discount 3,517 4,099 10,612 12,483 Interest expense 52,953 51,251 155,681 165,770 Less: Interest income (1,394) (448) (2,401) (1,160) Less: Capitalized interest (802) (288) (1,642) (645) Interest, net $ 50,757 $ 50,515 $ 151,638 $ 163,965

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Nov. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Office rent expense was $0.5 million and $0.4 million, and $1.4 million and $1.2 million, for the three and nine months ended November 30, 2022 and 2021, respectively. As of November 30, 2022, Aircastle is obligated under non-cancelable operating leases relating principally to office facilities in Stamford, Connecticut; Dublin, Ireland; and Singapore for future minimum lease payments as follows: Year Ending February 28/29, Amount 2023 (Remainder of fiscal year) $ 485 2024 2,243 2025 2,882 2026 2,731 2027 2,671 Thereafter 19,543 Total $ 30,555 At November 30, 2022, we had commitments to acquire 23 aircraft for $857.8 million. At November 30, 2022, commitments, including $46.2 million of remaining progress payments, contractual price escalations and other adjustments for these aircraft, net of amounts already paid, are as follows: Year Ending February 28/29, Amount 2023 (Remainder of fiscal year) $ 483,357 2024 179,037 2025 195,380 2026 — 2027 — Thereafter — Total $ 857,774

Other Assets

Other Assets	9 Months Ended
	Nov. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consisted of the following as of November 30, 2022 and February 28, 2022: November 30, February 28, Deferred income tax asset $ 380 $ 570 Lease incentives and lease premiums, net of amortization of $84,729 and $81,553, respectively 57,476 53,513 Flight equipment held for sale 33,588 77,636 Aircraft purchase deposits and Embraer E-2 progress payments 63,123 56,157 Right-of-use asset (1) 16,959 7,176 Deferred rent receivable 47,079 55,478 Other assets 110,373 105,796 Total other assets $ 328,978 $ 356,326 ______________ (1) Net of lease incentives and tenant allowances.

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Liabilities	9 Months Ended
	Nov. 30, 2022
Payables and Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other Liabilities	Accounts Payable, Accrued Expenses and Other Liabilities Accounts payable, accrued expenses and other liabilities consisted of the following as of November 30, 2022 and February 28, 2022: November 30, February 28, Accounts payable, accrued expenses and other liabilities $ 59,491 $ 58,882 Deferred income tax liability 79,161 66,123 Accrued interest payable 46,328 42,013 Lease liability 19,597 9,846 Lease discounts, net of amortization of $45,237 and $45,546, respectively 3,696 560 Total accounts payable, accrued expenses and other liabilities $ 208,273 $ 177,424

Subsequent Event

Subsequent Event	9 Months Ended
	Nov. 30, 2022
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Nov. 30, 2022
Accounting Policies [Abstract]
Organization and Basis of Presentation	Organization Aircastle Limited (“Aircastle,” the “Company,” “we,” “us” or “our”) is a Bermuda exempted company that was incorporated on October 29, 2004 under the provisions of Section 14 of the Companies Act of 1981 of Bermuda. Aircastle’s business consists of acquiring, leasing, managing and selling commercial jet aircraft. The Company is controlled by affiliates of Marubeni Corporation (“Marubeni”) and Mizuho Leasing Company, Limited (“Mizuho Leasing”). Aircastle is a holding company and conducts its business through subsidiaries that are wholly-owned, either directly or indirectly, by Aircastle.
Principles of Consolidation	Basis of Presentation and Principles of Consolidation The consolidated financial statements presented are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The accompanying consolidated financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting and, in our opinion, reflect all adjustments, including normal recurring items, which are necessary to present fairly the results for interim periods. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the entire year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted in accordance with the rules and regulations of the SEC. However, we believe that the disclosures are adequate to make the information presented not misleading. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended February 28, 2022. The consolidated financial statements include the accounts of Aircastle and all its subsidiaries, including any Variable Interest Entity (“VIE”) of which Aircastle is the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. We manage and analyze our business and report on our results of operations based on one operating segment: leasing, financing, selling and managing commercial flight equipment. Our Chief Executive Officer is the chief operating decision maker. The Company’s management has reviewed and evaluated all events or transactions for potential recognition and/or disclosure subsequent to the balance sheet date of November 30, 2022, through the date on which the consolidated financial statements included in this Form 10-Q were issued.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. While
Revenue Recognition Leases, Operating [Policy Text Block]	Lease Revenue Recognition We lease flight equipment under net operating leases with lease terms typically ranging from three In certain instances, we may provide lease concessions to customers, generally in the form of lease rental deferrals. While these deferral arrangements affect the timing of lease rental payments, the total amount of lease rental payments required over the lease term is generally the same as that which was required under the original lease agreement. We account for the deferrals as if no modifications to the lease agreements were made and record the deferred rentals as a receivable within other assets. Should we determine that the collectability of rental payments is no longer probable, including any deferral thereof, we will recognize lease rental revenue using a cash basis of accounting rather than an accrual method. In the period we conclude that collection of lease payments is no longer probable, we recognize any difference between revenue amounts recognized to date under the accrual method and payments that have been collected from the lessee, including security deposit amounts held, as a current period adjustment to lease rental revenue.
New Accounting Pronouncements, Policy	Recent Accounting Pronouncements In December 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2022-06 to defer the sunset date of Reference Rate Reform Topic 848 (“ASC 848”). U.S. GAAP requires
Concentration Risk, Credit Risk, Policy	Risk and Uncertainties In the normal course of business, Aircastle encounters several significant types of economic risk including credit, market, aviation industry and capital market risks. Credit risk is the risk of a lessee’s inability or unwillingness to make contractually required payments and to fulfill its other contractual obligations to Aircastle. Market risk reflects the change in the value of financings due to changes in interest rate spreads or other market factors, including the value of collateral underlying financings. Aviation industry risk is the risk of a downturn in the commercial aviation industry which could adversely impact a lessee’s ability to make payments, increase the risk of early lease terminations and depress lease rates and the value of the Company’s aircraft. Capital market risk is the risk that the Company is unable to obtain capital at reasonable rates to fund the growth of its business or to refinance existing debt facilities.
Impairment or Disposal of Long-Lived Assets, Policy	Impairment of Flight Equipment We perform an annual recoverability assessment of all aircraft in our fleet, on an aircraft-by-aircraft basis. A recoverability assessment is also performed whenever events or changes in circumstances, or indicators, suggest that the carrying amount or net book value of an asset may not be recoverable. Indicators may include, but are not limited to, a significant lease restructuring or early lease termination, significant change in an aircraft type’s storage levels, the introduction of newer technology aircraft or engines, an aircraft type is no longer in production or a significant airworthiness directive is issued. When we perform a recoverability assessment, we measure whether the estimated future undiscounted net cash flows expected to be generated by the aircraft exceed its net book value. The undiscounted cash flows consist of cash flows from currently contracted lease rental and maintenance payments, future projected lease rates and maintenance payments, transition costs, estimated down time, and estimated residual or scrap values for an aircraft. In the event that an aircraft does not meet the recoverability test, the aircraft will be adjusted to fair value, resulting in an impairment charge. See Note 2 in the Notes to Unaudited Consolidated Financial Statements. Management develops the assumptions used in the recoverability analysis based on current and future expectations of the global demand for a particular aircraft type and historical experience in the aircraft leasing market and aviation industry, as well as information received from third party industry sources. The factors considered in estimating the undiscounted cash flows are impacted by changes in future periods due to changes in projected lease rental and maintenance payments, residual values, economic conditions, technology, airline demand for a particular aircraft type and other factors, such as the location of the aircraft and accessibility to records and technical documentation. We continue to closely monitor the impact of recent crises, such as the Russian invasion of Ukraine and the COVID-19 pandemic, on our customers, air traffic, lease rental rates, and aircraft valuations, and have and will continue to perform additional customer and aircraft specific reviews should changes in facts and circumstances arise that may impact the recoverability of our aircraft. We have and will focus on aircraft with near-term lease expirations, customers that have entered judicial insolvency proceedings and any additional customers that may become subject to similar-type proceedings, and certain other customers or aircraft variants that are more susceptible to the impact of the above crises and value deterioration.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Nov. 30, 2022
Fair Value Disclosures [Abstract]
Fair value assets and liabilities measured on recurring basis	The following tables set forth our financial assets as of November 30, 2022 and February 28, 2022 that we measured at fair value on a recurring basis by level within the fair value hierarchy. Assets measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Fair Value Measurements at November 30, 2022 Using Fair Value Hierarchy Fair Value as of November 30, 2022 Quoted Prices Significant Significant Valuation Assets: Cash and cash equivalents $ 208,208 $ 208,208 $ — $ — Market Total $ 208,208 $ 208,208 $ — $ — Fair Value Measurements at February 28, 2022 Using Fair Value Hierarchy Fair Value as of February 28, 2022 Quoted Prices Significant Significant Valuation Assets: Cash and cash equivalents $ 167,891 $ 167,891 $ — $ — Market Restricted cash and cash equivalents 2,791 2,791 — — Market Total $ 170,682 $ 170,682 $ — $ —
Carrying amounts and fair values of financial instruments	The carrying amounts and fair values of our financial instruments at November 30, 2022 and February 28, 2022 were as follows: November 30, 2022 February 28, 2022 Carrying Amount Fair Value Carrying Fair Value Credit Facilities $ 20,000 $ 20,000 $ 20,000 $ 20,000 Unsecured Term Loan 155,000 154,824 155,000 152,195 Export Credit Agency (“ECA”) Financings — — 21,576 21,931 Term Financings 664,091 641,679 666,258 675,667 Senior Notes 3,700,000 3,467,718 3,700,000 3,776,997

Flight Equipment Held for Lea_2

Flight Equipment Held for Lease, Net (Tables)	9 Months Ended
	Nov. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, Lessor Asset under Operating Lease	The following table summarizes the activities for the Company’s flight equipment held for lease for the nine months ended November 30, 2022: Amount Balance at February 28, 2022 $ 6,313,950 Additions 668,221 Depreciation (245,303) Disposals and transfers to net investment in leases and held for sale (226,766) Impairments (64,961) Balance at November 30, 2022 $ 6,445,141 Accumulated depreciation as of November 30, 2022 $ 2,250,527

Lease Rental Revenues and Fli_2

Lease Rental Revenues and Flight Equipment Held for Lease (Tables)	9 Months Ended
	Nov. 30, 2022
Leases [Abstract]
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity	Minimum future lease rentals contracted to be received under our existing operating leases of flight equipment at November 30, 2022 were as follows: Year Ending February 28/29, Amount (1) 2023 (Remainder of fiscal year) $ 149,970 2024 574,261 2025 486,026 2026 367,340 2027 306,136 Thereafter 900,082 Total $ 2,783,815 _______________ (1) Reflects impact of lessee lease rental deferrals.

Net Investment in Leases, Net (

Net Investment in Leases, Net (Tables)	9 Months Ended
	Nov. 30, 2022
Leases [Abstract]
Schedule of Components of Net Investment in Leases	The components of our net investment in leases at November 30, 2022 and February 28, 2022, were as follows: November 30, 2022 February 28, 2022 Lease receivable $ 46,593 $ 52,021 Unguaranteed residual value of flight equipment 82,207 100,068 Net investment leases 128,800 152,089 Allowance for credit losses (3,296) (1,764) Net investment in leases, net $ 125,504 $ 150,325
Sales-type and Direct Financing Leases, Lease Receivable, Maturity	The activity in the allowance for credit losses related to our net investment in leases for the nine months ended November 30, 2022 was as follows: Amount Balance at February 28, 2022 $ 1,764 Provision for credit losses 1,543 Write-offs (11) Balance at November 30, 2022 $ 3,296 At November 30, 2022, future lease payments on net investment in leases are as follows: Year Ending February 28/29, Amount 2023 (Remainder of fiscal year) $ 2,824 2024 11,343 2025 9,364 2026 8,233 2027 8,370 Thereafter 15,454 Total lease payments to be received 55,588 Present value of lease payments - lease receivable (46,593) Difference between undiscounted lease payments and lease receivable $ 8,995

Risks and Uncertainties (Tables

Risks and Uncertainties (Tables)	9 Months Ended
	Nov. 30, 2022
Risks and Uncertainties [Abstract]
Long-lived Assets by Geographic Areas [Table Text Block]	The geographic concentration of the net book value of our fleet (flight equipment held for lease and net investment in leases, or “Net Book Value”) as of November 30, 2022 and February 28, 2022 was as follows: November 30, 2022 February 28, 2022 Region Number Net Book Number Net Book Asia and Pacific 64 28 % 71 32 % Europe 90 30 % 98 30 % Middle East and Africa 9 3 % 10 4 % North America 37 20 % 36 17 % South America 28 14 % 25 13 % Off-lease 13 (1) 5 % 11 (2) 4 % Total 241 100 % 251 100 % _______________ (1) Of the thirteen off-lease aircraft at November 30, 2022, we have three narrow-body aircraft and three wide-body aircraft which we are currently marketing for lease or sale. (2) Of the eleven off-lease aircraft at February 28, 2022, we have one wide-body aircraft which we are currently marketing for lease or sale.
Revenue from External Customers by Geographic Areas [Table Text Block]	The geographic concentration of our lease rental revenue earned from flight equipment held for lease was as follows: Three Months Ended November 30, Nine Months Ended November 30, Region 2022 2021 2022 2021 Asia and Pacific 31 % 27 % 33 % 31 % Europe 30 % 31 % 29 % 34 % Middle East and Africa 5 % 5 % 5 % 5 % North America 21 % 15 % 19 % 15 % South America 13 % 22 % 14 % 15 % Total 100 % 100 % 100 % 100 %
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	The following table shows the number of lessees with lease rental revenue of at least 5% of total lease rental revenue and their combined total percentage of lease rental revenue for the periods indicated: Three Months Ended November 30, Nine Months Ended November 30, 2022 2021 2022 2021 Number of Lessees Combined % of Lease Number of Lessees Combined % of Lease Number of Lessees Combined % of Lease Number of Lessees Combined % of Lease Largest lessees by lease rental revenue 4 25% 4 34% 4 27% 5 34%
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]	The following table sets forth individual countries representing at least 10% of our Net Book Value as of November 30, 2022 and February 28, 2022: November 30, 2022 February 28, 2022 Country Net Book Net Book Number Net Book Net Book Number India (1) $ — —% — $ 670,523 10% 3

Unconsolidated Equity Method _2

Unconsolidated Equity Method Investment (Tables)	9 Months Ended
	Nov. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Amount Unconsolidated equity method investment at February 28, 2022 $ 38,317 Earnings of unconsolidated equity method investment, net of tax 1,780 Unconsolidated equity method investment at November 30, 2022 $ 40,097

Borrowings from Secured and U_2

Borrowings from Secured and Unsecured Debt Financings (Tables)	9 Months Ended
	Nov. 30, 2022
Debt Disclosure [Abstract]
Outstanding amounts of secured and unsecured term debt financings	The outstanding amounts of our secured and unsecured debt financings were as follows: At November 30, 2022 At February 28, 2022 Debt Obligation Outstanding Number of Aircraft Interest Rate Final Stated Outstanding Secured Debt Financings: ECA Financings (1) $ — — —% N/A $ 21,576 Term Financings (2) 664,091 32 2.36% to 5.69% 06/17/23 to 2/24/32 666,258 Less: Debt issuance costs and discounts (8,059) — (3,795) Total secured debt financings, net of debt issuance costs and discounts 656,032 32 684,039 Unsecured Debt Financings: Senior 5.00% Notes due 2023 500,000 5.00% 04/01/23 500,000 Senior 4.40% Notes due 2023 650,000 4.40% 09/25/23 650,000 Senior Notes due 2024 500,000 4.125% 05/01/24 500,000 Senior Notes due 2025 650,000 5.25% 08/11/25 650,000 Senior Notes due 2026 650,000 4.25% 06/15/26 650,000 Senior Notes due 2028 750,000 2.85% 01/26/28 750,000 Unsecured Term Loans 155,000 4.84% 02/27/24 155,000 Revolving Credit Facilities 20,000 4.78% 2/28/23 to 05/24/25 20,000 Less: Debt issuance costs and discounts (32,184) (39,159) Total unsecured debt financings, net of debt issuance costs and discounts 3,842,816 3,835,841 Total secured and unsecured debt financings, net of debt issuance costs and discounts $ 4,498,848 $ 4,519,880 (1) In May 2022, we repaid the principal and accrued interest outstanding under our remaining ECA Financing and incurred early extinguishment costs of $0.5 million. (2) The borrowings under these financings at November 30, 2022 have a weighted-average fixed rate of interest of 4.02%.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Nov. 30, 2022
Income Tax Disclosure [Abstract]
Sources of income from continuing operations before income taxes	The sources of income (loss) from continuing operations before income taxes and earnings of our unconsolidated equity method investment for the three and nine months ended November 30, 2022 and 2021 were as follows: Three Months Ended November 30, Nine Months Ended November 30, 2022 2021 2022 2021 U.S. operations $ 5,868 $ 6,218 $ 15,994 $ 14,408 Non-U.S. operations 66,704 (45,586) 53,651 (55,098) Income (loss) from continuing operations before income taxes and earnings of unconsolidated equity method investment $ 72,572 $ (39,368) $ 69,645 $ (40,690)

Interest, Net (Tables)

Interest, Net (Tables)	9 Months Ended
	Nov. 30, 2022
Interest Income (Expense), Net [Abstract]
Components of Interest	The following table shows the components of interest, net: Three Months Ended November 30, Nine Months Ended November 30, 2022 2021 2022 2021 Interest on borrowings and other liabilities $ 49,436 $ 47,152 $ 145,069 $ 153,287 Amortization of deferred financing fees and debt discount 3,517 4,099 10,612 12,483 Interest expense 52,953 51,251 155,681 165,770 Less: Interest income (1,394) (448) (2,401) (1,160) Less: Capitalized interest (802) (288) (1,642) (645) Interest, net $ 50,757 $ 50,515 $ 151,638 $ 163,965

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Nov. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of obligations under non-cancelable operating leases	As of November 30, 2022, Aircastle is obligated under non-cancelable operating leases relating principally to office facilities in Stamford, Connecticut; Dublin, Ireland; and Singapore for future minimum lease payments as follows: Year Ending February 28/29, Amount 2023 (Remainder of fiscal year) $ 485 2024 2,243 2025 2,882 2026 2,731 2027 2,671 Thereafter 19,543 Total $ 30,555
Long-term Purchase Commitment	commitments, including $46.2 million of remaining progress payments, contractual price escalations and other adjustments for these aircraft, net of amounts already paid, are as follows: Year Ending February 28/29, Amount 2023 (Remainder of fiscal year) $ 483,357 2024 179,037 2025 195,380 2026 — 2027 — Thereafter — Total $ 857,774

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Nov. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Principal components of other assets	Other assets consisted of the following as of November 30, 2022 and February 28, 2022: November 30, February 28, Deferred income tax asset $ 380 $ 570 Lease incentives and lease premiums, net of amortization of $84,729 and $81,553, respectively 57,476 53,513 Flight equipment held for sale 33,588 77,636 Aircraft purchase deposits and Embraer E-2 progress payments 63,123 56,157 Right-of-use asset (1) 16,959 7,176 Deferred rent receivable 47,079 55,478 Other assets 110,373 105,796 Total other assets $ 328,978 $ 356,326 ______________ (1) Net of lease incentives and tenant allowances.

Accounts Payable, Accrued Exp_2

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Nov. 30, 2022
Payables and Accruals [Abstract]
Principal components of accounts payable, accrued expenses and other liabilities recorded on our consolidated balance sheet	Accounts payable, accrued expenses and other liabilities consisted of the following as of November 30, 2022 and February 28, 2022: November 30, February 28, Accounts payable, accrued expenses and other liabilities $ 59,491 $ 58,882 Deferred income tax liability 79,161 66,123 Accrued interest payable 46,328 42,013 Lease liability 19,597 9,846 Lease discounts, net of amortization of $45,237 and $45,546, respectively 3,696 560 Total accounts payable, accrued expenses and other liabilities $ 208,273 $ 177,424

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Nov. 30, 2022 USD ($)	Nov. 30, 2022 USD ($) segment
Accounting Policies [Line Items]
Number of Operating Segments | segment		1
Percentage of Fleet Having Floating-rate Lease Rentals	1%	1%
Percentage of Interest Expense Derived from Floating-rate Debt	7%	9%
Revolving Credit Facility | DBS (2018) Unsecured Revolving Credit Facility | Line of Credit
Accounting Policies [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 280,000	$ 280,000
Tranche C ($245mm) - DBS Revolving Credit Facility | Revolving Credit Facility | DBS (2018) Unsecured Revolving Credit Facility | Line of Credit
Accounting Policies [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 245,000	$ 245,000
Minimum | Property Subject to Operating Lease | Flight Equipment
Accounting Policies [Line Items]
Lessor, Operating Lease, Term of Contract	3 years	3 years
Maximum | Property Subject to Operating Lease | Flight Equipment
Accounting Policies [Line Items]
Lessor, Operating Lease, Term of Contract	7 years	7 years

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured at Fair Value (Details) - Recurring - USD ($) $ in Thousands	Nov. 30, 2022	Feb. 28, 2022
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash and cash equivalents	$ 208,208	$ 167,891
Restricted cash and cash equivalents		2,791
Total	208,208	170,682
Significant Other Observable Inputs (Level 2)
Assets:
Cash and cash equivalents	0	0
Restricted cash and cash equivalents		0
Total	0	0
Significant Unobservable Inputs (Level 3)
Assets:
Cash and cash equivalents	0	0
Restricted cash and cash equivalents		0
Total	0	0
Estimate of Fair Value Measurement
Assets:
Cash and cash equivalents	208,208	167,891
Restricted cash and cash equivalents		2,791
Total	$ 208,208	$ 170,682

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2022 USD ($) aircraft	Nov. 30, 2021 USD ($) aircraft	Nov. 30, 2022 USD ($) aircraft	Nov. 30, 2021 USD ($) aircraft
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net			$ 0
Impairment of flight equipment	$ 29,880	$ 69,111	67,979	$ 110,926
Revenue from Contract with Customer, Excluding Assessed Tax	257,516	191,480	606,659	514,942
Maintenance revenue	56,574	$ 33,510	103,787	$ 81,204
Maintenance and Security Deposit [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 26,300		33,800
Russian Invasion of Ukraine
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Impairment of flight equipment			31,900
Russian Invasion of Ukraine | Maintenance and Security Deposit [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax			$ 20,300
Transactional
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of aircrafts impaired | aircraft		3		7
Maintenance revenue		$ 24,300		$ 61,400
Transactional | Narrow-body [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of aircrafts impaired | aircraft	2	2	3	6
Transactional | Wide-body [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of aircrafts impaired | aircraft		1		1
Impairments not Related to Russian Invasion of Ukraine
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Impairment of flight equipment	$ 29,900	$ 69,100	$ 36,100	$ 110,900
Fleet Review [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Impairment of flight equipment	$ 6,300
Fleet Review [Member] | Wide-body [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of aircrafts impaired | aircraft	1
Aircraft Remaining in Country of Base Operations | RUSSIAN FEDERATION
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of Aircraft on Lease with Russian Airlines | aircraft			9
Aircraft Remaining in Country of Base Operations | Russian Invasion of Ukraine | Narrow-body [Member] | RUSSIAN FEDERATION
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of Aircraft on Lease with Russian Airlines | aircraft			8
Aircraft Remaining in Country of Base Operations | Russian Invasion of Ukraine | Total wide-body and narrow-body [Member] | RUSSIAN FEDERATION
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of Aircraft on Lease with Russian Airlines | aircraft			9
Aircraft Remaining in Country of Base Operations | Russian Invasion of Ukraine | Freighter | RUSSIAN FEDERATION
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of Aircraft on Lease with Russian Airlines | aircraft			1

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Nov. 30, 2022	Feb. 28, 2022
Unsecured Debt | Significant Other Observable Inputs (Level 2) | Reported Value Measurement | Revolving Credit Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 20,000	$ 20,000
Unsecured Debt | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement | Revolving Credit Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	20,000	20,000
Unsecured Debt | Quoted Prices in Active Markets for Identical Assets (Level 1) | Reported Value Measurement | DBJ Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	155,000	155,000
Unsecured Debt | Quoted Prices in Active Markets for Identical Assets (Level 1) | Reported Value Measurement | Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	3,700,000	3,700,000
Unsecured Debt | Quoted Prices in Active Markets for Identical Assets (Level 1) | Estimate of Fair Value Measurement | DBJ Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	154,824	152,195
Unsecured Debt | Quoted Prices in Active Markets for Identical Assets (Level 1) | Estimate of Fair Value Measurement | Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	3,467,718	3,776,997
Secured Debt | Significant Other Observable Inputs (Level 2) | Reported Value Measurement | ECA Term Financings
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	0	21,576
Secured Debt | Significant Other Observable Inputs (Level 2) | Reported Value Measurement | Term Financings
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	664,091	666,258
Secured Debt | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement | ECA Term Financings
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	0	21,931
Secured Debt | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement | Term Financings
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 641,679	$ 675,667

Flight Equipment Held for Lea_3

Flight Equipment Held for Lease, Net (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 30, 2022 USD ($) aircraft	Nov. 30, 2021 USD ($)	Nov. 30, 2022 USD ($) aircraft	Nov. 30, 2021 USD ($)	Feb. 28, 2022 USD ($)
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation	$ 6,445,141		$ 6,445,141		$ 6,313,950
Impairment of flight equipment	29,880	$ 69,111	67,979	$ 110,926
Depreciation	82,872	84,526	246,296	250,308
Transfers from flight equipment held for lease to Net investment in leases and Other assets			1,695	22,134
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Depreciation	$ 82,872	$ 84,526	$ 246,296	$ 250,308
Percentage of geographic concentration	100%	100%	100%	100%	100%
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation	$ 6,445,141		$ 6,445,141		$ 6,313,950
Transfers from flight equipment held for lease to Net investment in leases and Other assets			1,695	$ 22,134
Impairment of flight equipment	29,880	$ 69,111	67,979	110,926
Revenue from Contract with Customer, Excluding Assessed Tax	257,516	191,480	606,659	514,942
Proceeds from Sale of Flight Equipment			334,164	127,584
Gain on sale of flight equipment	$ 53,473	$ 7,420	67,209	$ 17,944
Wide-body [Member]
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Property, Plant and Equipment, Number of Aircraft Sold | aircraft	1
Freighter
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Property, Plant and Equipment, Number of Aircraft Sold | aircraft	2
Freighter and Widebody Aircraft
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Gain on sale of flight equipment	$ 53,500
Russian Invasion of Ukraine
Property, Plant and Equipment [Abstract]
Impairment of flight equipment			31,900
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Impairment of flight equipment			31,900
RUSSIAN FEDERATION
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Letters of Credit Outstanding, Amount	600		600
Proceeds from Lines of Credit			$ 48,900
Aircraft Remaining in Country of Base Operations | RUSSIAN FEDERATION
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Number of Aircraft on Lease with Russian Airlines | aircraft			9
Aircraft Remaining in Country of Base Operations | RUSSIAN FEDERATION | Russian Invasion of Ukraine | Narrow-body [Member]
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Number of Aircraft on Lease with Russian Airlines | aircraft			8
Aircraft Remaining in Country of Base Operations | RUSSIAN FEDERATION | Russian Invasion of Ukraine | Freighter
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Number of Aircraft on Lease with Russian Airlines | aircraft			1
Aircraft Outside Country of Base Operations | UNITED KINGDOM | Freighter
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Number of Aircraft Repossessed | aircraft			1
Flight Equipment
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation	6,445,141		$ 6,445,141		6,313,950
Property, Plant and Equipment, Additions			668,221
Property, Plant, and Equipment, Lessor Asset under Operating Lease, Accumulated Depreciation	2,250,527		2,250,527
Impairment of flight equipment			64,961
Depreciation			245,303
Transfers from flight equipment held for lease to Net investment in leases and Other assets			(226,766)
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Property, Plant and Equipment, Additions			668,221
Depreciation			245,303
Property, Plant, and Equipment, Lessor Asset under Operating Lease, Accumulated Depreciation	2,250,527		2,250,527
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation	$ 6,445,141		6,445,141		$ 6,313,950
Transfers from flight equipment held for lease to Net investment in leases and Other assets			(226,766)
Impairment of flight equipment			$ 64,961

Lease Rental Revenues and Fli_3

Lease Rental Revenues and Flight Equipment Held for Lease (Details) $ in Thousands	Nov. 30, 2022 USD ($)
Annual future minimum lease rentals receivable
2023 (Remainder of fiscal year)	$ 149,970
2024	574,261
2025	486,026
2026	367,340
2027	306,136
Thereafter	900,082
Total	$ 2,783,815

Lease Rental Revenues and Fli_4

Lease Rental Revenues and Flight Equipment Held for Lease (Details Textual) - USD ($) $ in Thousands	Nov. 30, 2022	Feb. 28, 2022
Maintenance Payments
Revenue, Major Customer [Line Items]
Lease incentive liabilities	$ 20,200	$ 16,500

Net Investment in Leases, Net_2

Net Investment in Leases, Net (Details Textual) - aircraft	Nov. 30, 2022	Feb. 28, 2022
Leases [Abstract]
Net Investment in Lease, Number of Leased Assets	8	11

Net Investment in Leases, Net_3

Net Investment in Leases, Net (Details 2) - USD ($) $ in Thousands	Nov. 30, 2022	Feb. 28, 2022
Capital Leases, Net Investment in Direct Financing Leases [Abstract]
Lease receivable	$ 46,593	$ 52,021
Unguaranteed residual value of flight equipment	82,207	100,068
Net investment leases	128,800	152,089
Allowance for credit losses	(3,296)	(1,764)
Net investment in leases, net	125,504	$ 150,325
Receivable in Remainder of Fiscal Year	2,824
Receivable in Year Two	11,343
Receivable in Year Three	9,364
Receivable in Year Four	8,233
Receivable in Year Five	8,370
Thereafter	15,454
Total	55,588
Present value of lease payments - lease receivable	(46,593)
Difference between undiscounted lease payments and lease receivable	$ 8,995

Net Investment in Leases, Net -

Net Investment in Leases, Net - Credit Loss Rollforward (Details) $ in Thousands	9 Months Ended
	Nov. 30, 2022 USD ($)
Net Investment in Lease, Allowance for Credit Loss [Roll Forward]
Balance at February 28, 2022	$ 1,764
Provision for credit losses	1,543
Write-offs	(11)
Balance at November 30, 2022	$ 3,296

Risks and Uncertainties (Detail

Risks and Uncertainties (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 30, 2022 USD ($) aircraft Lessee	Nov. 30, 2021 USD ($) Lessee	Nov. 30, 2022 USD ($) aircraft Lessee	Nov. 30, 2021 USD ($) Lessee	Feb. 28, 2022 USD ($) aircraft Lessee	Jan. 06, 2023 aircraft
Concentration Risk [Line Items]
Property Subject To Or Available for Operating Lease, Number of Units1	241		241		251
Percentage of geographic concentration	100%	100%	100%	100%	100%
Number of Offlease Aircraft Marketed for Lease or Sale					11
Number of Offlease Aircraft Marketed for Lease	13		13
Revenue from Contract with Customer, Excluding Assessed Tax | $	$ 257,516	$ 191,480	$ 606,659	$ 514,942
Maintenance revenue | $	56,574	33,510	103,787	81,204
Gain on sale of flight equipment | $	$ 53,473	$ 7,420	$ 67,209	$ 17,944
Asia Pacific [Member]
Concentration Risk [Line Items]
Property Subject To Or Available for Operating Lease, Number of Units1	64		64		71
Europe [Member]
Concentration Risk [Line Items]
Property Subject To Or Available for Operating Lease, Number of Units1	90		90		98
Middle East and Africa [Member]
Concentration Risk [Line Items]
Property Subject To Or Available for Operating Lease, Number of Units1	9		9		10
North America [Member]
Concentration Risk [Line Items]
Property Subject To Or Available for Operating Lease, Number of Units1	37		37		36
South America [Member]
Concentration Risk [Line Items]
Property Subject To Or Available for Operating Lease, Number of Units1	28		28		25
INDIA
Concentration Risk [Line Items]
Net Investment in Lease and Net Book Value of Equipment held for Lease | $	$ 0		$ 0		$ 670,523
property subject to or available for operating lease, net (percentage)			0%		10%
number of lessees | Lessee			0		3
UNITED STATES
Concentration Risk [Line Items]
Maintenance revenue | $	13,700		$ 13,900
Gain on sale of flight equipment | $	$ 47,000		$ 54,800
Geographic Concentration Risk [Member] | Net Book Value | Off Lease
Concentration Risk [Line Items]
Percentage of geographic concentration			5%		4%
Geographic Concentration Risk [Member] | Net Book Value | Asia Pacific [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration			28%		32%
Geographic Concentration Risk [Member] | Net Book Value | Europe [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration			30%		30%
Geographic Concentration Risk [Member] | Net Book Value | Middle East and Africa [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration			3%		4%
Geographic Concentration Risk [Member] | Net Book Value | North America [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration			20%		17%
Geographic Concentration Risk [Member] | Net Book Value | South America [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration			14%		13%
Geographic Concentration Risk [Member] | Lease Rental Revenue | Asia Pacific [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration	31%	27%	33%	31%
Geographic Concentration Risk [Member] | Lease Rental Revenue | Europe [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration	30%	31%	29%	34%
Geographic Concentration Risk [Member] | Lease Rental Revenue | Middle East and Africa [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration	5%	5%	5%	5%
Geographic Concentration Risk [Member] | Lease Rental Revenue | North America [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration	21%	15%	19%	15%
Geographic Concentration Risk [Member] | Lease Rental Revenue | South America [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration	13%	22%	14%	15%
Geographic Concentration Risk [Member] | Total Revenue [Member] | UNITED STATES
Concentration Risk [Line Items]
Percentage of geographic concentration	29%		18%
Major Customer Group One [Member]
Concentration Risk [Line Items]
Concentration Risk, Number of Customers in Major Customer Group | Lessee	4	4	4	5
Major Customer Group One [Member] | Geographic Concentration Risk | Lease Rental Revenue
Concentration Risk [Line Items]
Percentage of geographic concentration	25%	34%	27%	34%
Wide-body [Member] | Subsequent Event [Member]
Concentration Risk [Line Items]
Number of Offlease Aircraft Marketed for Lease or Sale						3
Wide-body [Member] | Number of Off-lease Aircraft Marketed for Lease or Sale from Prior Year [Member] | Subsequent Event [Member]
Concentration Risk [Line Items]
Number of Offlease Aircraft Marketed for Lease or Sale						1
Narrow-body [Member] | Subsequent Event [Member]
Concentration Risk [Line Items]
Number of Offlease Aircraft Marketed for Lease or Sale						3
Freighter | UNITED KINGDOM | Maintenance revenue
Concentration Risk [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax | $			$ 18,100

Unconsolidated Equity Method _3

Unconsolidated Equity Method Investment (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2022 USD ($) aircraft	Nov. 30, 2021 USD ($)	Nov. 30, 2022 USD ($) aircraft	Nov. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Feb. 28, 2022 USD ($)
Unconsolidated equity method investment	$ 40,097		$ 40,097			$ 38,317
Earnings of unconsolidated equity method investment, net of tax	603	$ 465	1,780	$ 1,210
Borrowings from unsecured financings, net	$ 3,842,816		$ 3,842,816			$ 3,835,841
Mizuho Leasing (2021) Unsecured Loan Facility (JV) | Unsecured Debt | Corporate Joint Venture
Borrowings from unsecured financings, net					$ 1,500
Equity Method Investee
Total number of aircraft owned by joint ventures | aircraft	9		9
Net Investment in Lease and Net Book Value of Equipment held for Lease	$ 288,600		$ 288,600

Borrowings from Secured and U_3

Borrowings from Secured and Unsecured Debt Financings (Details) $ in Thousands	9 Months Ended
	Nov. 30, 2022 USD ($) aircraft	Nov. 30, 2021 USD ($)	Feb. 28, 2022 USD ($)
Outstanding amounts of secured and unsecured term debt financings
Borrowings from secured financings	$ 656,032		$ 684,039
Number of Aircraft Financed | aircraft	32
Borrowings from unsecured financings, net	$ 3,842,816		3,835,841
Total secured and unsecured debt financings	4,498,848		4,519,880
Payment for Debt Extinguishment or Debt Prepayment Cost	291	$ 13,372
Line of Credit | Revolving Credit Facility
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net	20,000		20,000
ECA Term Financings | Notes Payable, Other Payables
Outstanding amounts of secured and unsecured term debt financings
Borrowings from secured financings	$ 0		21,576
Interest rate	0%
Payment for Debt Extinguishment or Debt Prepayment Cost	$ 500
ECA Term Financings | Secured Debt
Outstanding amounts of secured and unsecured term debt financings
Number of Aircraft Financed | aircraft	0
Bank Financings | Notes Payable, Other Payables
Outstanding amounts of secured and unsecured term debt financings
Debt, Weighted Average Interest Rate	4.02%
Bank Financings | Notes Payable to Banks
Outstanding amounts of secured and unsecured term debt financings
Borrowings from secured financings	$ 664,091		666,258
Bank Financings | Notes Payable to Banks | Minimum
Outstanding amounts of secured and unsecured term debt financings
Interest rate	2.36%
Bank Financings | Notes Payable to Banks | Maximum
Outstanding amounts of secured and unsecured term debt financings
Interest rate	5.69%
Bank Financings | Secured Debt
Outstanding amounts of secured and unsecured term debt financings
Number of Aircraft Financed | aircraft	32
Secured Debt
Outstanding amounts of secured and unsecured term debt financings
Debt Issuance Cost	$ (8,059)		(3,795)
Senior Notes Due 2023 | Senior Notes | 5.00
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net	$ 500,000		500,000
Interest rate	5%
Senior Notes Due 2023 | Senior Notes | 4.40%
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net	$ 650,000		650,000
Interest rate	4.40%
Senior Notes Due 2024 | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net	$ 500,000		500,000
Senior Notes Due 2024 | Senior Notes | 4.125
Outstanding amounts of secured and unsecured term debt financings
Interest rate	4.125%
Senior Notes Due 2025 [Member] | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net	$ 650,000		650,000
Senior Notes Due 2025 [Member] | Senior Notes | 5.25%
Outstanding amounts of secured and unsecured term debt financings
Interest rate	5.25%
Senior Notes Due 2026 [Member] | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net	$ 650,000		650,000
Senior Notes Due 2026 [Member] | Senior Notes | 4.25%
Outstanding amounts of secured and unsecured term debt financings
Interest rate	4.25%
Senior Notes Due 2028 | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net	$ 750,000		750,000
Senior Notes Due 2028 | Senior Notes | 2.85%
Outstanding amounts of secured and unsecured term debt financings
Interest rate	2.85%
Floating Rate Term Loan | Notes Payable to Banks
Outstanding amounts of secured and unsecured term debt financings
Interest rate	4.84%
Floating Rate Term Loan | Floating Rate Term Loan
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net	$ 155,000		155,000
Floating Rate Term Loan | Revolving Credit Facility
Outstanding amounts of secured and unsecured term debt financings
Interest rate	4.78%
Unsecured Debt
Outstanding amounts of secured and unsecured term debt financings
Debt Issuance Cost	$ (32,184)		$ (39,159)

Borrowings from Secured and U_4

Borrowings from Secured and Unsecured Debt Financings (Details) $ in Thousands	Nov. 21, 2022 USD ($) aircraft	Sep. 08, 2022 USD ($) numberOfRevolvingCreditFacilities	Jul. 30, 2022 USD ($)	Jun. 27, 2022 USD ($)	Nov. 30, 2022 USD ($)	Sep. 07, 2022 USD ($)	May 24, 2022 USD ($) numberOfRevolvingCreditFacilities	Feb. 28, 2022 USD ($)
Debt Instrument [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity					$ 1,400,000
Borrowings from unsecured financings, net					3,842,816			$ 3,835,841
Borrowings from secured financings, net					656,032			684,039
2022 Secured Facility | Secured Debt
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	1.1 billion
Maximum number of aircraft secured by debt instrument | aircraft	17
Debt Instrument, Face Amount	$ 450,000
Borrowings from secured financings, net					0
2022 Secured Facility | Secured Debt | Maximum
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	75
2022 Secured Facility | Secured Debt | Minimum
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	70
2022 Secured Facility | Secured Debt | EBITDA Ratio
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	2.0
2022 Secured Facility | Secured Debt | Consolidated Interest Expense Paid in Cash, Ratio
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	1.0
2022 Secured Facility | Secured Debt | Minimum
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	three
2022 Secured Facility | Secured Debt | Maximum
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	six
2022 Secured Facility | Secured Debt | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.35%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Borrowings from unsecured financings, net					20,000			$ 20,000
Revolving Credit Facility | DBS (2018) Unsecured Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility Previous Borrowing Capacity							$ 230,000
Line of Credit Facility, Current Borrowing Capacity					280,000
Revolving Credit Facility | DBS (2018) Unsecured Revolving Credit Facility | Line of Credit | Tranche B (Revised) ($35mm) - DBS Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity					35,000
Revolving Credit Facility | DBS (2018) Unsecured Revolving Credit Facility | Line of Credit | Tranche C ($245mm) - DBS Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity					$ 245,000
Revolving Credit Facility | 2013 Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility Previous Borrowing Capacity				$ 1,000,000		$ 900,000
Line of Credit Facility, Current Borrowing Capacity		$ 1,000,000
Repayments of Lines of Credit				$ 100,000
Revolving Credit Facility | 2013 Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.625%
Revolving Credit Facility | 2013 Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Individual Debt Instrument at Time of Issuance Part of Overall Portfolio of Revolving Credit Facilities | numberOfRevolvingCreditFacilities		1
Revolving Credit Facility | Mizuho Bank Ltd. (2020) Unsecured Revolving Credit Facility [Member] | Line of Credit
Debt Instrument [Line Items]
Repayments of Lines of Credit			$ 50,000
Line of Credit | DBS (2018) Unsecured Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Individual Debt Instrument at Time of Issuance Part of Overall Portfolio of Revolving Credit Facilities | numberOfRevolvingCreditFacilities							1

Shareholders_ Equity (Details)

Shareholders’ Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2022	Aug. 31, 2022	Aug. 31, 2021
Equity [Abstract]
Dividends, Preferred Stock	$ 10,500	$ 10,500	$ 5,658

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Marubeni Service Agreement
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 1,300	$ 1,000	$ 3,900	$ 2,900
Marubeni Affiliate Parts Management Services and Supply Agreement
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 400	$ 2,700	$ 3,700	$ 4,600

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Sources of income from continuing operations before income taxes
U.S. operations	$ 5,868	$ 6,218	$ 15,994	$ 14,408
Non-U.S. operations	66,704	(45,586)	53,651	(55,098)
Income from continuing operations before income taxes and earnings of unconsolidated equity method investments	$ 72,572	$ (39,368)	$ 69,645	$ (40,690)

Income Taxes Income Taxes (Text

Income Taxes Income Taxes (Textual) (Details)	3 Months Ended		9 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Continuing Operations	31.80%	(59.70%)	32.10%	(56.20%)

Interest, Net (Details)

Interest, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Interest Income (Expense), Net [Abstract]
Interest on borrowings and other liabilities	$ 49,436	$ 47,152	$ 145,069	$ 153,287
Amortization of deferred financing costs	3,517	4,099	10,612	12,483
Interest expense	52,953	51,251	155,681	165,770
Less: Interest income	(1,394)	(448)	(2,401)	(1,160)
Less: Capitalized interest	(802)	(288)	(1,642)	(645)
Interest, net	$ 50,757	$ 50,515	$ 151,638	$ 163,965

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 30, 2022 USD ($) aircraft	Nov. 30, 2021 USD ($)	Nov. 30, 2022 USD ($) aircraft	Nov. 30, 2021 USD ($)
Types of Commercial Aircraft [Line Items]
Rent expense	$ 500	$ 400	$ 1,400	$ 1,200
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2023 (Remainder of fiscal year)	485		485
2024	2,243		2,243
2025	2,882		2,882
2026	2,731		2,731
2027	2,671		2,671
Thereafter	19,543		19,543
Total	$ 30,555		$ 30,555
Committed to acquire aircraft | aircraft	23		23
Purchase Obligation, Fiscal Year Maturity [Abstract]
2023 (Remainder of fiscal year)	$ 483,357		$ 483,357
2024	179,037		179,037
2025	195,380		195,380
2026	0		0
2027	0		0
Thereafter	0		0
Total	857,774		857,774
Pre-Delivery Payments
Purchase Obligation, Fiscal Year Maturity [Abstract]
Total	$ 46,200		$ 46,200

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Nov. 30, 2022	Feb. 28, 2022
Principal components of other assets
Deferred income tax asset	$ 380	$ 570
Lease incentives and lease premiums, net of amortization of $84,729 and $81,553, respectively	57,476	53,513
Flight equipment held for sale	33,588	77,636
Aircraft purchase deposits and Embraer E-2 progress payments	63,123	56,157
Right-of-use asset	16,959	7,176
Deferred rent receivable	47,079	55,478
Other assets	110,373	105,796
Total other assets	328,978	356,326
Lease Incentives and Lease Premiums, Accumulated Amortization	$ 84,729	$ 81,553

Accounts Payable, Accrued Exp_3

Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Nov. 30, 2022	Feb. 28, 2022
Payables and Accruals [Abstract]
Accounts payable, accrued expenses and other liabilities	$ 59,491	$ 58,882
Deferred income tax liability	79,161	66,123
Accrued interest payable	46,328	42,013
Lease liability	19,597	9,846
Lease discounts, net of amortization of $45,237 and $45,546, respectively	3,696	560
Total accounts payable, accrued expenses and other liabilities	208,273	177,424
Deferred Lease Income, Accumulated Amortization	$ 45,237	$ 45,546