Aircastle (AYR) 10-Q12 Oct 222022 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Aug. 31, 2022	Oct. 07, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 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	Q2
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	Aug. 31, 2022	Feb. 28, 2022
ASSETS
Cash and cash equivalents	$ 246,713	$ 167,891
Restricted cash and cash equivalents	650	2,791
Accounts receivable	54,960	63,666
Flight equipment held for lease, net	6,355,679	6,313,950
Net investment in leases, net	137,619	150,325
Unconsolidated equity method investments	39,494	38,317
Other assets	327,141	356,326
Total assets	7,162,256	7,093,266
LIABILITIES
Borrowings from secured financings, net	626,776	684,039
Borrowings from unsecured financings, net	3,915,114	3,835,841
Accounts payable, accrued expenses and other liabilities	195,004	177,424
Lease rentals received in advance	43,040	37,361
Security deposits	65,366	69,189
Maintenance payments	498,768	459,713
Total liabilities	5,344,068	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 August 31, 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 August 31, 2022 and February 28, 2022	0	0
Additional paid-in capital	1,878,774	1,878,774
Accumulated deficit	(60,586)	(49,075)
Total shareholders’ equity	1,818,188	1,829,699
Total liabilities and shareholders’ equity	$ 7,162,256	$ 7,093,266

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Aug. 31, 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		6 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Revenues:
Lease rental revenue	$ 146,508	$ 137,589	$ 290,652	$ 269,714
Direct financing and sales-type lease revenue	2,265	2,776	4,863	5,653
Amortization of lease premiums, discounts and incentives	(5,518)	(5,835)	(10,906)	(11,159)
Maintenance revenue	20,114	21,218	47,213	47,694
Total lease revenue	163,369	155,748	331,822	311,902
Gain on sale of flight equipment	10,049	1,502	13,736	10,524
Other revenue	161	402	3,585	1,036
Total revenues	173,579	157,652	349,143	323,462
Operating expenses:
Depreciation	82,106	83,391	163,424	165,782
Interest, net	50,587	55,413	100,881	113,450
Selling, general and administrative	17,393	15,990	37,309	31,573
Provision for credit losses	109	6	689	12
Impairment of flight equipment	33,671	21,232	38,099	41,815
Maintenance and other costs	5,212	8,087	13,277	15,615
Total operating expenses	189,078	184,119	353,679	368,247
Other income (expense):
Loss on extinguishment of debt	0	(14,132)	(463)	(14,156)
Other	2,072	57,609	2,072	57,619
Total other income	2,072	43,477	1,609	43,463
Income (loss) from continuing operations before income taxes and earnings of unconsolidated equity method investments	(13,427)	17,010	(2,927)	(1,322)
Income tax provision (benefit)	(4,068)	7,665	(739)	(627)
Earnings of unconsolidated equity method investments, net of tax	666	458	1,177	745
Net income (loss)	(8,693)	9,803	(1,011)	50
Preference share dividends	(10,500)	(5,658)	(10,500)	(5,658)
Earnings available to common shareholders – Basic	(19,193)	4,145	(11,511)	(5,608)
Total comprehensive income (loss) available to common shareholders	$ (19,193)	$ 4,145	$ (11,511)	$ (5,608)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ (8,693)	$ 9,803	$ (1,011)	$ 50
Adjustments to reconcile net income (loss) to net cash and restricted cash provided by operating activities:
Depreciation	82,106	83,391	163,424	165,782
Amortization of deferred financing costs			7,095	8,384
Amortization of lease premiums, discounts and incentives	5,518	5,835	10,906	11,159
Deferred income taxes			6,588	4,240
Collections on net investment in leases			4,016	8,065
Security deposits and maintenance payments included in earnings			(2,133)	(30,420)
Gain on sale of flight equipment	(10,049)	(1,502)	(13,736)	(10,524)
Loss on extinguishment of debt	0	14,132	463	14,156
Impairment of flight equipment	33,671	21,232	38,099	41,815
Provision for credit losses	109	6	689	12
Other			(1,179)	(745)
Changes in certain assets and liabilities:
Accounts receivable			5,808	(5,479)
Other assets			(8,223)	(15,413)
Accounts payable, accrued expenses and other liabilities			(2,284)	(10,664)
Lease rentals received in advance			7,094	(704)
Net cash and restricted cash provided by operating activities			215,616	179,714
Cash flows from investing activities:
Acquisition and improvement of flight equipment			(372,474)	(370,187)
Proceeds from sale of flight equipment			171,065	77,900
Aircraft purchase deposits and progress payments, net of deposits returned and aircraft sales deposits			4,504	10,003
Payments for (Proceeds from) Other Investing Activities			1,500	(64)
Net cash and restricted cash used in investing activities			(195,405)	(282,348)
Cash flows from financing activities:
Proceeds from Issuance of Preferred Stock and Preference Stock			0	393,362
Proceeds from secured and unsecured debt financings			75,000	0
Repayments of secured and unsecured debt financings			(58,355)	(546,903)
Debt extinguishment costs			(291)	(13,372)
Deferred financing costs			(1,903)	(4,748)
Security deposits and maintenance payments received			63,758	44,111
Security deposits and maintenance payments returned			(11,239)	(10,219)
Dividends paid			(10,500)	0
Net cash and restricted cash provided by (used in) financing activities			56,470	(137,769)
Net increase in cash and restricted cash:			76,681	(240,403)
Cash and restricted cash at beginning of period			170,682	580,598
Cash and restricted cash at end of period	247,363	340,195	247,363	340,195
Cash and cash equivalents	246,713	337,455	246,713	337,455
Restricted cash and cash equivalents	650	2,740	650	2,740
Unrestricted and restricted cash and cash equivalents	$ 247,363	$ 340,195	247,363	340,195
Supplemental disclosures of cash flow information:
Cash paid for interest, net of amounts capitalized			93,007	107,102
Cash paid for income taxes			200	1,201
Supplemental disclosures of non-cash investing activities:
Advance lease rentals, security deposits, maintenance payments, other liabilities and other assets assumed in asset acquisitions			6,100	1,158
Advance lease rentals, security deposits, maintenance payments, other liabilities and other assets settled in sale of flight equipment			14,791	12,506
Transfers from flight equipment held for lease to Net investment in leases and Other assets			$ 8,895	$ 3,554

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)	50
Balance, shares at Aug. 31, 2021		14,048
Balance at Aug. 31, 2021	2,118,824	$ 0	$ 0	1,879,139	239,685
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
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)
Dividends, Preferred Stock	$ (10,500)
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)	$ (1,011)
Balance, shares at Aug. 31, 2022	14,048	14,048
Balance at Aug. 31, 2022	$ 1,818,188	$ 0	$ 0	1,878,774	(60,586)
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	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		400

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Aug. 31, 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 August 31, 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 March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2020-04, Reference Rate Reform Topic 848 (“ASC 848”), in response to the market transition from the London interbank

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Aug. 31, 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 August 31, 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 August 31, 2022 Using Fair Value Hierarchy Fair Value as of August 31, 2022 Quoted Prices Significant Significant Valuation Assets: Cash and cash equivalents $ 246,713 $ 246,713 $ — $ — Market Restricted cash and cash equivalents 650 650 — — Market Total $ 247,363 $ 247,363 $ — $ — 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 and our restricted 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. For the three and six months ended August 31, 2022, we had no transfers into or out of Level 3. 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 ventures 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 Excluding asset write-offs related to Russia, during the three and six months ended August 31, 2022, the Company recorded impairment charges totaling $6.2 million related to the scheduled lease expiration of one narrow-body aircraft and other flight equipment. The Company recognized $6.1 million of maintenance revenue for this one aircraft during the three and six months ended August 31, 2022. The Company wrote off the remaining book value 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 $27.5 million and $31.9 million during the three and six months ended August 31, 2022, respectively – see Note 3 in the Notes to Unaudited Consolidated Financial Statements. During the six months ended August 31, 2022, the Company recognized $9.5 million of maintenance and other revenue for these nine aircraft related to payments received on maintenance and general security letters of credit. No revenue was recognized for these nine aircraft during the three months ended August 31, 2022. During the three months ended August 31, 2021, the Company recorded impairment charges totaling $21.2 million, of which $18.0 million were transactional impairments primarily related to two narrow-body aircraft resulting from early lease terminations. The Company recognized $16.1 million of maintenance revenue for these two aircraft. During the six months ended August 31, 2021, the Company recorded impairment charges totaling $41.8 million, of which $38.6 million were transactional impairments, primarily related to four narrow-body aircraft resulting from three early lease terminations and one scheduled lease expiration. The Company recognized $37.1 million of maintenance revenue for these four aircraft. Annual Recoverability Assessment We plan to perform our annual recoverability assessment of all our aircraft during the third quarter of 2022. 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, restricted cash and cash equivalents, accounts receivable, accounts payable and amounts borrowed under financings. The fair value of cash and cash equivalents, restricted 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 August 31, 2022 and February 28, 2022 were as follows: August 31, 2022 February 28, 2022 Carrying Amount Fair Value Carrying Fair Value Credit Facilities $ 95,000 $ 95,000 $ 20,000 $ 20,000 Unsecured Term Loan 155,000 152,968 155,000 152,195 Export Credit Agency (“ECA”) Financings — — 21,576 21,931 Bank Financings 629,479 613,383 666,258 675,667 Senior Notes 3,700,000 3,481,227 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.

Property, Plant, and Equipment

Property, Plant, and Equipment	6 Months Ended
Property, Plant, and Equipment	Aug. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure	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 six months ended August 31, 2022: Amount Balance at February 28, 2022 $ 6,313,950 Additions 361,928 Depreciation (162,752) Disposals and transfers to net investment in leases and held for sale (122,366) Impairments (35,081) Balance at August 31, 2022 $ 6,355,679 Accumulated depreciation as of August 31, 2022 $ 2,459,049 Write-off of Russian Aircraft As of August 31, 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 $4.4 million and $27.5 million during the three months ended May 31, 2022 and August 31, 2022, respectively. 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, however, 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 a new wave of 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 $11.9 million of maintenance revenue as a result of this lease termination. Subsequent to August 31, 2022, these two freighter aircraft and one wide-body aircraft previously on lease to a Russian airline were sold for gains of approximately $53.0 million. During the six months ended August 31, 2022, the Company recognized $25.4 million of maintenance and other revenue related to payments received on maintenance and general security letters of credit for our former Russian lessees. We are pursuing collection on remaining letters of credit totaling $24.1 million.

Lease Rental Revenues and Fligh

Lease Rental Revenues and Flight Equipment Held for Lease	6 Months Ended
Lease Rental Revenues and Flight Equipment Held for Lease	Aug. 31, 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 August 31, 2022 were as follows: Year Ending February 28/29, Amount (1) 2023 (Remainder of fiscal year) $ 291,415 2024 546,501 2025 446,371 2026 331,792 2027 276,959 Thereafter 784,086 Total $ 2,677,124 _______________ (1) Reflects impact of lessee lease rental deferrals. At August 31, 2022 and February 28, 2022, the amounts of lease incentive liabilities recorded in maintenance payments on our consolidated balance sheets were $20.1 million and $16.5 million, respectively.

Net Investment in Leases, Net

Net Investment in Leases, Net	6 Months Ended
Net Investment in Leases, Net	Aug. 31, 2022
Leases [Abstract]
Net Investment in Leases, Net	Net Investment in Leases, Net At August 31, 2022 and February 28, 2022, our net investment in leases consisted of nine and eleven aircraft, respectively. The components of our net investment in leases at August 31, 2022 and February 28, 2022, were as follows: August 31, 2022 February 28, 2022 Lease receivable $ 46,444 $ 52,021 Unguaranteed residual value of flight equipment 93,620 100,068 Net investment leases 140,064 152,089 Allowance for credit losses (2,445) (1,764) Net investment in leases, net $ 137,619 $ 150,325 The activity in the allowance for credit losses related to our net investment in leases for the six months ended August 31, 2022 was as follows: Amount Balance at February 28, 2022 $ 1,764 Provision for credit losses 689 Write-offs (8) Balance at August 31, 2022 $ 2,445 At August 31, 2022, future lease payments on net investment in leases are as follows: Year Ending February 28/29, Amount 2023 (Remainder of fiscal year) $ 3,983 2024 8,973 2025 9,509 2026 8,353 2027 8,292 Thereafter 16,103 Total lease payments to be received 55,213 Present value of lease payments - lease receivable (46,444) Difference between undiscounted lease payments and lease receivable $ 8,769

Risks and Uncertainties

Risks and Uncertainties	6 Months Ended
Risks and Uncertainties	Aug. 31, 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 direct financing and sales-type leases, or “Net Book Value”) as of August 31, 2022 and February 28, 2022 was as follows: August 31, 2022 February 28, 2022 Region Number Net Book Number Net Book Asia and Pacific 65 29 % 71 32 % Europe 90 29 % 98 30 % Middle East and Africa 10 4 % 10 4 % North America 37 19 % 36 17 % South America 26 13 % 25 13 % Off-lease 15 (1) 6 % 11 (2) 4 % Total 243 100 % 251 100 % _______________ (1) Of the fifteen off-lease aircraft at August 31, 2022, we have two narrow-body aircraft and six 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 three 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 August 31, 2022 and February 28, 2022: August 31, 2022 February 28, 2022 Country Net Book Net Book Number Net Book Net Book Number India $ 656,090 10% 3 $ 670,523 10% 3 The geographic concentration of our lease rental revenue earned from flight equipment held for lease was as follows: Three Months Ended August 31, Six Months Ended August 31, Region 2022 2021 2022 2021 Asia and Pacific 35 % 32 % 34 % 33 % Europe 29 % 36 % 29 % 35 % Middle East and Africa 5 % 5 % 5 % 5 % North America 18 % 15 % 17 % 15 % South America 13 % 12 % 15 % 12 % 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 August 31, Six Months Ended August 31, 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 28% 4 30% 3 23% 5 34% For the three months ended August 31, 2022, total revenue attributable to the U.K, the United States, and India was 11%, 11%, and 10%, respectively. Total revenue attributable to the U.K. included $11.9 million of maintenance revenue resulting from the lease termination of one freighter aircraft – see Note 3 in the Notes to Unaudited Consolidated Financial Statements. For the three months ended August 31, 2021, total revenue attributable to India was 13% and less than 10% for the U.K. and the United States. For the six months ended August 31, 2022 and 2021, total revenue attributable to India was 11% and 13%, respectively. Judicial Insolvency Proceedings or Similar Protection As of October 7, 2022, three of our customers, to which we lease sixteen aircraft, are subject to judicial insolvency proceedings or similar protection. We have signed restructured lease agreements for fifteen of these aircraft, subject only to the lessees emerging from their respective judicial insolvency processes, and a restructured lease commitment for one of these aircraft.

Unconsolidated Equity Method In

Unconsolidated Equity Method Investment (Notes)	6 Months Ended
Unconsolidated Equity Method Investment (Notes)	Aug. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Unconsolidated Equity Method Investment	Unconsolidated Equity Method Investments We have a joint venture with Mizuho Leasing which has nine aircraft with a net book value of $292.0 million at August 31, 2022. Amount Investment in joint venture at February 28, 2022 $ 38,317 Earnings from joint venture, net of tax 1,177 Investment in joint venture at August 31, 2022 $ 39,494 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	6 Months Ended
Borrowings from Secured and Unsecured Debt Financings	Aug. 31, 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 August 31, 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 Bank Financings (2) 629,479 31 3.13% to 4.55% 06/17/23 to 03/06/25 666,258 Less: Debt issuance costs and discounts (2,703) — (3,795) Total secured debt financings, net of debt issuance costs and discounts 626,776 31 684,039 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 3.38% 02/27/24 155,000 Revolving Credit Facilities 95,000 3.24% to 4.24% 02/28/23 to 05/24/25 20,000 Less: Debt issuance costs and discounts (34,886) (39,159) Total unsecured debt financings, net of debt issuance costs and discounts 3,915,114 3,835,841 Total secured and unsecured debt financings, net of debt issuance costs and discounts $ 4,541,890 $ 4,519,880 (1) In May 2022, the Company 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 August 31, 2022 have a weighted-average fixed rate of interest of 3.81%. 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 23, 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 Secured Overnight Financing Rate (“SOFR”) as the benchmark interest rate. The facility bears interest at Adjusted Term SOFR (as defined in the amendment to the credit agreement) plus a margin of 1.625% per year 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 August 31, 2022, we had $95.0 million outstanding under our revolving credit facilities and had $1.2 billion available for borrowing. As of August 31, 2022, we were in compliance with all applicable covenants in our financings.

Shareholders_ Equity

Shareholders’ Equity	6 Months Ended
Shareholders’ Equity	Aug. 31, 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	6 Months Ended
Related Party Disclosures	Aug. 31, 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 $1.2 million and $0.9 million during the three months ended August 31, 2022 and 2021, respectively, and $2.6 million and $1.9 million during the six months ended August 31, 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 $2.3 million and $1.4 million during the three months ended August 31, 2022 and 2021, respectively, and $4.0 million and $2.0 million during the six months ended August 31, 2022 and 2021, respectively

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Aug. 31, 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 investments for the three and six months ended August 31, 2022 and 2021 were as follows: Three Months Ended August 31, Six Months Ended August 31, 2022 2021 2022 2021 U.S. operations $ 4,790 $ 4,479 $ 10,126 $ 8,190 Non-U.S. operations (18,217) 12,531 (13,053) (9,512) Income (loss) from continuing operations before income taxes and earnings of unconsolidated equity method investments $ (13,427) $ 17,010 $ (2,927) $ (1,322) 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 rates (“ETRs”) for the three months ended August 31, 2022 and 2021 were 30.3% and 45.1% , and for the six months ended August 31, 2022 and 2021 were 25.2% and 47.4%, respectively. The movement in the ETR is primarily caused by changes in the mix of the Company’s pre-tax earnings/(losses) in its taxable and non-tax jurisdictions. The six months ended August 31, 2022 included net non-cash impairment charges, which were recorded in a low tax jurisdiction. Further, the three and six months ended August 31, 2021 included 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 was recorded in a low tax jurisdiction.

Interest, Net

Interest, Net	6 Months Ended
Interest, Net	Aug. 31, 2022
Interest Income (Expense), Net [Abstract]
Interest Net	Interest, Net The following table shows the components of interest, net: Three Months Ended August 31, Six Months Ended August 31, 2022 2021 2022 2021 Interest on borrowings and other liabilities $ 48,392 $ 51,807 $ 95,633 $ 106,135 Amortization of deferred financing fees and debt discount 3,498 4,193 7,095 8,384 Interest expense 51,890 56,000 102,728 114,519 Less: Interest income (748) (382) (1,007) (712) Less: Capitalized interest (555) (205) (840) (357) Interest, net $ 50,587 $ 55,413 $ 100,881 $ 113,450

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Aug. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Rent expense for the corporate offices and sales and marketing offices was $0.4 million and $0.4 million, and $0.9 million and $0.8 million, for the three and six months ended August 31, 2022 and 2021, respectively. As of August 31, 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) $ 899 2024 1,747 2025 1,778 2026 1,630 2027 1,571 Thereafter 2,412 Total $ 10,037 At August 31, 2022, we had commitments to acquire 21 aircraft for $748.1 million. At August 31, 2022, commitments, including $54.4 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) $ 375,356 2024 178,315 2025 194,469 2026 — 2027 — Thereafter — Total $ 748,140

Other Assets

Other Assets	6 Months Ended
Other Assets	Aug. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets The following table describes the principal components of other assets on our consolidated balance sheets as of August 31, 2022 and February 28, 2022: August 31, February 28, Deferred income tax asset $ 465 $ 570 Lease incentives and lease premiums, net of amortization of $82,250 and $81,553, respectively 55,152 53,513 Flight equipment held for sale 32,852 77,636 Aircraft purchase deposits and Embraer E-2 progress payments 67,533 56,157 Right-of-use asset (1) 5,519 7,176 Deferred rent receivable 47,634 55,478 Other assets 117,986 105,796 Total other assets $ 327,141 $ 356,326 ______________ (1) Net of lease incentives and tenant allowances.

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Liabilities	6 Months Ended
Accounts Payable, Accrued Expenses and Other Liabilities	Aug. 31, 2022
Payables and Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other Liabilities	Accounts Payable, Accrued Expenses and Other Liabilities The following table describes the principal components of accounts payable, accrued expenses and other liabilities recorded our consolidated balance sheets as of August 31, 2022 and February 28, 2022: August 31, February 28, Accounts payable, accrued expenses and other liabilities $ 70,436 $ 58,882 Deferred income tax liability 72,606 66,123 Accrued interest payable 43,755 42,013 Lease liability 7,935 9,846 Lease discounts, net of amortization of $45,481 and $45,546, respectively 272 560 Total accounts payable, accrued expenses and other liabilities $ 195,004 $ 177,424

Subsequent Event

Subsequent Event	6 Months Ended
Subsequent Event	Aug. 31, 2022
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On September 8, 2022, we expanded the size of one of our unsecured revolving credit facilities by $100.0 million to $1.0 billion – see Note 8 in the Notes to Unaudited Consolidated Financial Statements. In September 2022, we sold two freighter aircraft and one wide-body aircraft for gains of approximately $53.0 million – see Note 3 in the Notes to Unaudited Consolidated Financial Statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Aug. 31, 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 August 31, 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 March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2020-04, Reference Rate Reform Topic 848 (“ASC 848”), in response to the market transition from the London interbank
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)	6 Months Ended
Fair Value Measurements (Tables)	Aug. 31, 2022
Fair Value Disclosures [Abstract]
Fair value assets and liabilities measured on recurring basis	The following tables set forth our financial assets as of August 31, 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 August 31, 2022 Using Fair Value Hierarchy Fair Value as of August 31, 2022 Quoted Prices Significant Significant Valuation Assets: Cash and cash equivalents $ 246,713 $ 246,713 $ — $ — Market Restricted cash and cash equivalents 650 650 — — Market Total $ 247,363 $ 247,363 $ — $ — 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 August 31, 2022 and February 28, 2022 were as follows: August 31, 2022 February 28, 2022 Carrying Amount Fair Value Carrying Fair Value Credit Facilities $ 95,000 $ 95,000 $ 20,000 $ 20,000 Unsecured Term Loan 155,000 152,968 155,000 152,195 Export Credit Agency (“ECA”) Financings — — 21,576 21,931 Bank Financings 629,479 613,383 666,258 675,667 Senior Notes 3,700,000 3,481,227 3,700,000 3,776,997

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	6 Months Ended
Property, Plant, and Equipment (Tables)	Aug. 31, 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 six months ended August 31, 2022: Amount Balance at February 28, 2022 $ 6,313,950 Additions 361,928 Depreciation (162,752) Disposals and transfers to net investment in leases and held for sale (122,366) Impairments (35,081) Balance at August 31, 2022 $ 6,355,679 Accumulated depreciation as of August 31, 2022 $ 2,459,049

Lease Rental Revenues and Fli_2

Lease Rental Revenues and Flight Equipment Held for Lease (Tables)	6 Months Ended
	Aug. 31, 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 August 31, 2022 were as follows: Year Ending February 28/29, Amount (1) 2023 (Remainder of fiscal year) $ 291,415 2024 546,501 2025 446,371 2026 331,792 2027 276,959 Thereafter 784,086 Total $ 2,677,124 _______________ (1) Reflects impact of lessee lease rental deferrals.

Net Investment in Leases, Net (

Net Investment in Leases, Net (Tables)	6 Months Ended
Net Investment in Leases, Net (Tables)	Aug. 31, 2022
Leases [Abstract]
Schedule of Components of Net Investment in Leases	The components of our net investment in leases at August 31, 2022 and February 28, 2022, were as follows: August 31, 2022 February 28, 2022 Lease receivable $ 46,444 $ 52,021 Unguaranteed residual value of flight equipment 93,620 100,068 Net investment leases 140,064 152,089 Allowance for credit losses (2,445) (1,764) Net investment in leases, net $ 137,619 $ 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 six months ended August 31, 2022 was as follows: Amount Balance at February 28, 2022 $ 1,764 Provision for credit losses 689 Write-offs (8) Balance at August 31, 2022 $ 2,445 At August 31, 2022, future lease payments on net investment in leases are as follows: Year Ending February 28/29, Amount 2023 (Remainder of fiscal year) $ 3,983 2024 8,973 2025 9,509 2026 8,353 2027 8,292 Thereafter 16,103 Total lease payments to be received 55,213 Present value of lease payments - lease receivable (46,444) Difference between undiscounted lease payments and lease receivable $ 8,769

Risks and Uncertainties (Tables

Risks and Uncertainties (Tables)	6 Months Ended
Risks and Uncertainties (Tables)	Aug. 31, 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 direct financing and sales-type leases, or “Net Book Value”) as of August 31, 2022 and February 28, 2022 was as follows: August 31, 2022 February 28, 2022 Region Number Net Book Number Net Book Asia and Pacific 65 29 % 71 32 % Europe 90 29 % 98 30 % Middle East and Africa 10 4 % 10 4 % North America 37 19 % 36 17 % South America 26 13 % 25 13 % Off-lease 15 (1) 6 % 11 (2) 4 % Total 243 100 % 251 100 % _______________ (1) Of the fifteen off-lease aircraft at August 31, 2022, we have two narrow-body aircraft and six 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 three 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 August 31, Six Months Ended August 31, Region 2022 2021 2022 2021 Asia and Pacific 35 % 32 % 34 % 33 % Europe 29 % 36 % 29 % 35 % Middle East and Africa 5 % 5 % 5 % 5 % North America 18 % 15 % 17 % 15 % South America 13 % 12 % 15 % 12 % 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 August 31, Six Months Ended August 31, 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 28% 4 30% 3 23% 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 August 31, 2022 and February 28, 2022: August 31, 2022 February 28, 2022 Country Net Book Net Book Number Net Book Net Book Number India $ 656,090 10% 3 $ 670,523 10% 3

Unconsolidated Equity Method _2

Unconsolidated Equity Method Investment (Tables)	6 Months Ended
Unconsolidated Equity Method Investment (Tables)	Aug. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Amount Investment in joint venture at February 28, 2022 $ 38,317 Earnings from joint venture, net of tax 1,177 Investment in joint venture at August 31, 2022 $ 39,494

Borrowings from Secured and U_2

Borrowings from Secured and Unsecured Debt Financings (Tables)	6 Months Ended
	Aug. 31, 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 August 31, 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 Bank Financings (2) 629,479 31 3.13% to 4.55% 06/17/23 to 03/06/25 666,258 Less: Debt issuance costs and discounts (2,703) — (3,795) Total secured debt financings, net of debt issuance costs and discounts 626,776 31 684,039 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 3.38% 02/27/24 155,000 Revolving Credit Facilities 95,000 3.24% to 4.24% 02/28/23 to 05/24/25 20,000 Less: Debt issuance costs and discounts (34,886) (39,159) Total unsecured debt financings, net of debt issuance costs and discounts 3,915,114 3,835,841 Total secured and unsecured debt financings, net of debt issuance costs and discounts $ 4,541,890 $ 4,519,880 (1) In May 2022, the Company 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 August 31, 2022 have a weighted-average fixed rate of interest of 3.81%.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
Income Taxes (Tables)	Aug. 31, 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 investments for the three and six months ended August 31, 2022 and 2021 were as follows: Three Months Ended August 31, Six Months Ended August 31, 2022 2021 2022 2021 U.S. operations $ 4,790 $ 4,479 $ 10,126 $ 8,190 Non-U.S. operations (18,217) 12,531 (13,053) (9,512) Income (loss) from continuing operations before income taxes and earnings of unconsolidated equity method investments $ (13,427) $ 17,010 $ (2,927) $ (1,322)

Interest, Net (Tables)

Interest, Net (Tables)	6 Months Ended
Interest, Net (Tables)	Aug. 31, 2022
Interest Income (Expense), Net [Abstract]
Components of Interest	The following table shows the components of interest, net: Three Months Ended August 31, Six Months Ended August 31, 2022 2021 2022 2021 Interest on borrowings and other liabilities $ 48,392 $ 51,807 $ 95,633 $ 106,135 Amortization of deferred financing fees and debt discount 3,498 4,193 7,095 8,384 Interest expense 51,890 56,000 102,728 114,519 Less: Interest income (748) (382) (1,007) (712) Less: Capitalized interest (555) (205) (840) (357) Interest, net $ 50,587 $ 55,413 $ 100,881 $ 113,450

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Aug. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of obligations under non-cancelable operating leases	As of August 31, 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) $ 899 2024 1,747 2025 1,778 2026 1,630 2027 1,571 Thereafter 2,412 Total $ 10,037
Long-term Purchase Commitment	commitments, including $54.4 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) $ 375,356 2024 178,315 2025 194,469 2026 — 2027 — Thereafter — Total $ 748,140

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
Other Assets (Tables)	Aug. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Principal components of other assets	The following table describes the principal components of other assets on our consolidated balance sheets as of August 31, 2022 and February 28, 2022: August 31, February 28, Deferred income tax asset $ 465 $ 570 Lease incentives and lease premiums, net of amortization of $82,250 and $81,553, respectively 55,152 53,513 Flight equipment held for sale 32,852 77,636 Aircraft purchase deposits and Embraer E-2 progress payments 67,533 56,157 Right-of-use asset (1) 5,519 7,176 Deferred rent receivable 47,634 55,478 Other assets 117,986 105,796 Total other assets $ 327,141 $ 356,326 ______________ (1) Net of lease incentives and tenant allowances.

Accounts Payable, Accrued Exp_2

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Aug. 31, 2022
Payables and Accruals [Abstract]
Principal components of accounts payable, accrued expenses and other liabilities recorded on our consolidated balance sheet	The following table describes the principal components of accounts payable, accrued expenses and other liabilities recorded our consolidated balance sheets as of August 31, 2022 and February 28, 2022: August 31, February 28, Accounts payable, accrued expenses and other liabilities $ 70,436 $ 58,882 Deferred income tax liability 72,606 66,123 Accrued interest payable 43,755 42,013 Lease liability 7,935 9,846 Lease discounts, net of amortization of $45,481 and $45,546, respectively 272 560 Total accounts payable, accrued expenses and other liabilities $ 195,004 $ 177,424

Summary of Significant Accoun_3

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Aug. 31, 2022 USD ($)	Aug. 31, 2022 USD ($) 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	8%	6.50%
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	Aug. 31, 2022	Feb. 28, 2022
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash and cash equivalents	$ 246,713	$ 167,891
Restricted cash and cash equivalents	650	2,791
Total	247,363	170,682
Significant Other Observable Inputs (Level 2)
Assets:
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Total	0	0
Significant Unobservable Inputs (Level 3)
Assets:
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Total	0	0
Estimate of Fair Value Measurement
Assets:
Cash and cash equivalents	246,713	167,891
Restricted cash and cash equivalents	650	2,791
Total	$ 247,363	$ 170,682

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Aug. 31, 2022 USD ($)	May 31, 2022 USD ($)	Aug. 31, 2021 USD ($) aircraft	Aug. 31, 2022 USD ($) aircraft	Aug. 31, 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	$ 33,671		$ 21,232	38,099	$ 41,815
Revenue from Contract with Customer, Excluding Assessed Tax	173,579		157,652	$ 349,143	323,462
Fair Value Disclosures [Text Block]				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 August 31, 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 August 31, 2022 Using Fair Value Hierarchy Fair Value as of August 31, 2022 Quoted Prices Significant Significant Valuation Assets: Cash and cash equivalents $ 246,713 $ 246,713 $ — $ — Market Restricted cash and cash equivalents 650 650 — — Market Total $ 247,363 $ 247,363 $ — $ — 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 and our restricted 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. For the three and six months ended August 31, 2022, we had no transfers into or out of Level 3. 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 ventures 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 Excluding asset write-offs related to Russia, during the three and six months ended August 31, 2022, the Company recorded impairment charges totaling $6.2 million related to the scheduled lease expiration of one narrow-body aircraft and other flight equipment. The Company recognized $6.1 million of maintenance revenue for this one aircraft during the three and six months ended August 31, 2022. The Company wrote off the remaining book value 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 $27.5 million and $31.9 million during the three and six months ended August 31, 2022, respectively – see Note 3 in the Notes to Unaudited Consolidated Financial Statements. During the six months ended August 31, 2022, the Company recognized $9.5 million of maintenance and other revenue for these nine aircraft related to payments received on maintenance and general security letters of credit. No revenue was recognized for these nine aircraft during the three months ended August 31, 2022. During the three months ended August 31, 2021, the Company recorded impairment charges totaling $21.2 million, of which $18.0 million were transactional impairments primarily related to two narrow-body aircraft resulting from early lease terminations. The Company recognized $16.1 million of maintenance revenue for these two aircraft. During the six months ended August 31, 2021, the Company recorded impairment charges totaling $41.8 million, of which $38.6 million were transactional impairments, primarily related to four narrow-body aircraft resulting from three early lease terminations and one scheduled lease expiration. The Company recognized $37.1 million of maintenance revenue for these four aircraft. Annual Recoverability Assessment We plan to perform our annual recoverability assessment of all our aircraft during the third quarter of 2022. 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, restricted cash and cash equivalents, accounts receivable, accounts payable and amounts borrowed under financings. The fair value of cash and cash equivalents, restricted 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 August 31, 2022 and February 28, 2022 were as follows: August 31, 2022 February 28, 2022 Carrying Amount Fair Value Carrying Fair Value Credit Facilities $ 95,000 $ 95,000 $ 20,000 $ 20,000 Unsecured Term Loan 155,000 152,968 155,000 152,195 Export Credit Agency (“ECA”) Financings — — 21,576 21,931 Bank Financings 629,479 613,383 666,258 675,667 Senior Notes 3,700,000 3,481,227 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.
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			16,100	$ 6,100	37,100
Wide-body [Member] \| Maintenance revenue \| RUSSIAN FEDERATION
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax				25,400
Russian Invasion of Ukraine
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Impairment of flight equipment	27,500	$ 4,400		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	$ 0			$ 9,500
Transactional
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Impairment of flight equipment			$ 18,000		$ 38,600
Number of Aircraft Impaired as a Result of Early Lease Terminations \| aircraft					3
Number of Aircraft Impaired as a Result of Scheduled Lease Expirations \| aircraft					1
Transactional \| Narrow-body [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of aircrafts impaired \| aircraft			2	1	4
Impairments not Related to Russian Invasion of Ukraine
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Impairment of flight equipment				$ 6,200
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	Aug. 31, 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	$ 95,000	$ 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	95,000	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	152,968	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	3,481,227	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 \| Bank Financings
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	629,479	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 \| Bank Financings
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 613,383	$ 675,667

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Details) $ in Thousands		3 Months Ended			6 Months Ended		12 Months Ended
Property, Plant, and Equipment (Details) $ in Thousands	Oct. 07, 2022 aircraft	Aug. 31, 2022 USD ($) aircraft	May 31, 2022 USD ($)	Aug. 31, 2021 USD ($)	Aug. 31, 2022 USD ($) aircraft	Aug. 31, 2021 USD ($)	Feb. 28, 2022 USD ($)
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation		$ 6,355,679			$ 6,355,679		$ 6,313,950
Impairment of flight equipment		33,671		$ 21,232	38,099	$ 41,815
Depreciation		82,106		83,391	163,424	165,782
Transfers from flight equipment held for lease to Net investment in leases and Other assets					8,895	3,554
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Depreciation		$ 82,106		$ 83,391	$ 163,424	$ 165,782
Percentage of geographic concentration		100%		100%	100%	100%	100%
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation		$ 6,355,679			$ 6,355,679		$ 6,313,950
Transfers from flight equipment held for lease to Net investment in leases and Other assets					8,895	$ 3,554
Impairment of flight equipment		33,671		$ 21,232	38,099	41,815
Revenue from Contract with Customer, Excluding Assessed Tax		173,579		$ 157,652	349,143	323,462
Proceeds from Sale of Flight Equipment					171,065	$ 77,900
Wide-body [Member] \| Subsequent Event [Member]
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Property, Plant and Equipment, Number of Aircraft Sold \| aircraft	1
Freighter \| Subsequent Event [Member]
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Property, Plant and Equipment, Number of Aircraft Sold \| aircraft	2
Russian Invasion of Ukraine
Property, Plant and Equipment [Abstract]
Impairment of flight equipment		27,500	$ 4,400		31,900
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Impairment of flight equipment		27,500	$ 4,400		31,900
RUSSIAN FEDERATION
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Letters of Credit Outstanding, Amount		$ 24,100			$ 24,100
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		$ 6,355,679			$ 6,355,679		6,313,950
Property, Plant and Equipment, Additions					361,928
Property, Plant, and Equipment, Lessor Asset under Operating Lease, Accumulated Depreciation		2,459,049			2,459,049
Impairment of flight equipment					35,081
Depreciation					162,752
Transfers from flight equipment held for lease to Net investment in leases and Other assets					(122,366)
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Property, Plant and Equipment, Additions					361,928
Depreciation					162,752
Property, Plant, and Equipment, Lessor Asset under Operating Lease, Accumulated Depreciation		2,459,049			2,459,049
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation		$ 6,355,679			6,355,679		$ 6,313,950
Transfers from flight equipment held for lease to Net investment in leases and Other assets					(122,366)
Impairment of flight equipment					$ 35,081

Lease Rental Revenues and Fli_3

Lease Rental Revenues and Flight Equipment Held for Lease (Details) $ in Thousands	Aug. 31, 2022 USD ($)
Annual future minimum lease rentals receivable
2023 (Remainder of fiscal year)	$ 291,415
2024	546,501
2025	446,371
2026	331,792
2027	276,959
Thereafter	784,086
Total	$ 2,677,124

Lease Rental Revenues and Fli_4

Lease Rental Revenues and Flight Equipment Held for Lease (Details Textual) - USD ($) $ in Thousands	Aug. 31, 2022	Feb. 28, 2022
Maintenance Payments
Revenue, Major Customer [Line Items]
Lease incentive liabilities	$ 20,100	$ 16,500

Net Investment in Leases, Net_2

Net Investment in Leases, Net (Details Textual) - aircraft	Aug. 31, 2022	Feb. 28, 2022
Leases [Abstract]
Net Investment in Lease, Number of Leased Assets	9	11

Net Investment in Leases, Net_3

Net Investment in Leases, Net (Details 2) - USD ($) $ in Thousands	Aug. 31, 2022	Feb. 28, 2022
Capital Leases, Net Investment in Direct Financing Leases [Abstract]
Lease receivable	$ 46,444	$ 52,021
Unguaranteed residual value of flight equipment	93,620	100,068
Net investment leases	140,064	152,089
Allowance for credit losses	(2,445)	(1,764)
Net investment in leases, net	137,619	$ 150,325
Receivable in Remainder of Fiscal Year	3,983
Receivable in Year Two	8,973
Receivable in Year Three	9,509
Receivable in Year Four	8,353
Receivable in Year Five	8,292
Thereafter	16,103
Total	55,213
Present value of lease payments - lease receivable	(46,444)
Difference between undiscounted lease payments and lease receivable	$ 8,769

Net Investment in Leases, Net -

Net Investment in Leases, Net - Credit Loss Rollforward (Details) $ in Thousands	6 Months Ended
	Aug. 31, 2022 USD ($)
Net Investment in Lease, Allowance for Credit Loss [Roll Forward]
Balance at February 28, 2022	$ 1,764
Provision for credit losses	689
Write-offs	(8)
Balance at August 31, 2022	$ 2,445

Risks and Uncertainties (Detail

Risks and Uncertainties (Details) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
Risks and Uncertainties (Details) $ in Thousands	Oct. 07, 2022 aircraft Lessee	Aug. 31, 2022 USD ($) aircraft Lessee	Aug. 31, 2021 USD ($) Lessee	Aug. 31, 2022 USD ($) aircraft Lessee	Aug. 31, 2021 USD ($) Lessee	Feb. 28, 2022 USD ($) aircraft Lessee
Concentration Risk [Line Items]
Property Subject To Or Available for Operating Lease, Number of Units1		243		243		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		15		15
Revenue from Contract with Customer, Excluding Assessed Tax \| $		$ 173,579	$ 157,652	$ 349,143	$ 323,462
Asia Pacific [Member]
Concentration Risk [Line Items]
Property Subject To Or Available for Operating Lease, Number of Units1		65		65		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		10		10		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		26		26		25
INDIA
Concentration Risk [Line Items]
Net Investment in Lease and Net Book Value of Equipment held for Lease \| $		$ 656,090		$ 656,090		$ 670,523
property subject to or available for operating lease, net (percentage)				10%		10%
number of lessees \| Lessee				3		3
Geographic Concentration Risk [Member] \| Net Book Value \| Off Lease
Concentration Risk [Line Items]
Percentage of geographic concentration				6%		4%
Geographic Concentration Risk [Member] \| Net Book Value \| Asia Pacific [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration				29%		32%
Geographic Concentration Risk [Member] \| Net Book Value \| Europe [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration				29%		30%
Geographic Concentration Risk [Member] \| Net Book Value \| Middle East and Africa [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration				4%		4%
Geographic Concentration Risk [Member] \| Net Book Value \| North America [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration				19%		17%
Geographic Concentration Risk [Member] \| Net Book Value \| South America [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration				13%		13%
Geographic Concentration Risk [Member] \| Lease Rental Revenue \| Asia Pacific [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration		35%	32%	34%	33%
Geographic Concentration Risk [Member] \| Lease Rental Revenue \| Europe [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration		29%	36%	29%	35%
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		18%	15%	17%	15%
Geographic Concentration Risk [Member] \| Lease Rental Revenue \| South America [Member]
Concentration Risk [Line Items]
Percentage of geographic concentration		13%	12%	15%	12%
Geographic Concentration Risk [Member] \| Total Revenue [Member] \| INDIA
Concentration Risk [Line Items]
Percentage of geographic concentration		10%	13%	11%	13%
Geographic Concentration Risk [Member] \| Total Revenue [Member] \| UNITED STATES
Concentration Risk [Line Items]
Percentage of geographic concentration		11%
Geographic Concentration Risk [Member] \| Total Revenue [Member] \| UNITED KINGDOM
Concentration Risk [Line Items]
Percentage of geographic concentration		11%
Subsequent Event [Member]
Concentration Risk [Line Items]
Number Of Customers Entering Bankruptcy \| Lessee	3
Number of Aircrafts Leased to Bankrupt Customers	16
Major Customer Group One [Member]
Concentration Risk [Line Items]
Concentration Risk, Number of Customers in Major Customer Group \| Lessee		4	4	3	5
Major Customer Group One [Member] \| Geographic Concentration Risk \| Lease Rental Revenue
Concentration Risk [Line Items]
Percentage of geographic concentration		28%	30%	23%	34%
Wide-body [Member] \| RUSSIAN FEDERATION \| Maintenance revenue
Concentration Risk [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax \| $				$ 25,400
Wide-body [Member] \| Subsequent Event [Member]
Concentration Risk [Line Items]
Number of Offlease Aircraft Marketed for Lease or Sale	6
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	3
Narrow-body [Member] \| Subsequent Event [Member]
Concentration Risk [Line Items]
Number of Offlease Aircraft Marketed for Lease or Sale	2
Total wide-body and narrow-body [Member] \| Customers in Bankruptcy Proceedings [Member] \| Subsequent Event [Member]
Concentration Risk [Line Items]
Number of Aircraft Leased to Bankrupt Customer with Signed Restructured Lease Agreements	15
Number of Aircraft Leased to Bankrupt Customer with Signed Restructured Lease Commitment	1
Freighter \| UNITED KINGDOM \| Maintenance revenue
Concentration Risk [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax \| $		$ 11,900

Unconsolidated Equity Method _3

Unconsolidated Equity Method Investment (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 31, 2022 USD ($) aircraft	Aug. 31, 2021 USD ($)	Aug. 31, 2022 USD ($) aircraft	Aug. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Feb. 28, 2022 USD ($)
Unconsolidated equity method investments	$ 39,494		$ 39,494			$ 38,317
Earnings of unconsolidated equity method investments, net of tax	666	$ 458	1,177	$ 745
Borrowings from unsecured financings, net	$ 3,915,114		$ 3,915,114			$ 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	$ 292,000		$ 292,000

Borrowings from Secured and U_3

Borrowings from Secured and Unsecured Debt Financings (Details) $ in Thousands	6 Months Ended
	Aug. 31, 2022 USD ($) aircraft	Aug. 31, 2021 USD ($)	Feb. 28, 2022 USD ($)
Outstanding amounts of secured and unsecured term debt financings
Borrowings from secured financings	$ 626,776		$ 684,039
Number of Aircraft Financed \| aircraft	31
Borrowings from unsecured financings, net	$ 3,915,114		3,835,841
Total secured and unsecured debt financings	4,541,890		4,519,880
Payment for Debt Extinguishment or Debt Prepayment Cost	$ 291	$ 13,372
Schedule of Debt [Table Text Block]	The outstanding amounts of our secured and unsecured debt financings were as follows: At August 31, 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 Bank Financings (2) 629,479 31 3.13% to 4.55% 06/17/23 to 03/06/25 666,258 Less: Debt issuance costs and discounts (2,703) — (3,795) Total secured debt financings, net of debt issuance costs and discounts 626,776 31 684,039 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 3.38% 02/27/24 155,000 Revolving Credit Facilities 95,000 3.24% to 4.24% 02/28/23 to 05/24/25 20,000 Less: Debt issuance costs and discounts (34,886) (39,159) Total unsecured debt financings, net of debt issuance costs and discounts 3,915,114 3,835,841 Total secured and unsecured debt financings, net of debt issuance costs and discounts $ 4,541,890 $ 4,519,880 (1) In May 2022, the Company 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 August 31, 2022 have a weighted-average fixed rate of interest of 3.81%.
Line of Credit \| Revolving Credit Facility
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net	$ 95,000		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	3.81%
Bank Financings \| Notes Payable to Banks
Outstanding amounts of secured and unsecured term debt financings
Borrowings from secured financings	$ 629,479		666,258
Bank Financings \| Notes Payable to Banks \| Minimum
Outstanding amounts of secured and unsecured term debt financings
Interest rate	3.13%
Bank Financings \| Notes Payable to Banks \| Maximum
Outstanding amounts of secured and unsecured term debt financings
Interest rate	4.55%
Bank Financings \| Secured Debt
Outstanding amounts of secured and unsecured term debt financings
Number of Aircraft Financed \| aircraft	31
Secured Debt
Outstanding amounts of secured and unsecured term debt financings
Debt Issuance Cost	$ (2,703)		(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	3.38%
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
Revolving Credit Facility \| Line of Credit \| Minimum
Outstanding amounts of secured and unsecured term debt financings
Interest rate	3.24%
Revolving Credit Facility \| Line of Credit \| Maximum
Outstanding amounts of secured and unsecured term debt financings
Interest rate	4.24%
Unsecured Debt
Outstanding amounts of secured and unsecured term debt financings
Debt Issuance Cost	$ (34,886)		$ (39,159)

Borrowings from Secured and U_4

Borrowings from Secured and Unsecured Debt Financings (Details) $ in Thousands				6 Months Ended
	Sep. 08, 2022 USD ($) numberOfRevolvingCreditFacilities	Jul. 30, 2022 USD ($)	Jun. 27, 2022 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2021 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				$ 1,200,000
Payment for Debt Extinguishment or Debt Prepayment Cost				291	$ 13,372
Borrowings from unsecured financings, net				$ 3,915,114				$ 3,835,841
ECA Term Financings \| Notes Payable, Other Payables
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				0%
Payment for Debt Extinguishment or Debt Prepayment Cost				$ 500
Bank Financings \| Notes Payable, Other Payables
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate				3.81%
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Borrowings from unsecured financings, net				$ 95,000				$ 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
Repayments of Lines of Credit			$ 100,000
Revolving Credit Facility \| 2013 Revolving Credit Facility \| Line of Credit \| Subsequent Event [Member]
Debt Instrument [Line Items]
Line of Credit Facility Previous Borrowing Capacity						$ 900,000
Line of Credit Facility, Current Borrowing Capacity	$ 1,000,000
Revolving Credit Facility \| 2013 Revolving Credit Facility \| Line of Credit \| Subsequent Event [Member] \| 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 \| Subsequent Event [Member]
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
Shareholders’ Equity (Details) - USD ($) $ in Thousands	Aug. 31, 2022	May 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		6 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Marubeni Service Agreement
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 1,200	$ 900	$ 2,600	$ 1,900
Marubeni Affiliate Parts Management Services and Supply Agreement
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 2,300	$ 1,400	$ 4,000	$ 2,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Sources of income from continuing operations before income taxes
U.S. operations	$ 4,790	$ 4,479	$ 10,126	$ 8,190
Non-U.S. operations	(18,217)	12,531	(13,053)	(9,512)
Income from continuing operations before income taxes and earnings of unconsolidated equity method investments	$ (13,427)	$ 17,010	$ (2,927)	$ (1,322)

Income Taxes Income Taxes (Text

Income Taxes Income Taxes (Textual) (Details)	3 Months Ended		6 Months Ended
Income Taxes Income Taxes (Textual) (Details)	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Continuing Operations	30.30%	45.10%	25.20%	47.40%

Interest, Net (Details)

Interest, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Interest, Net (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2022	Aug. 31, 2021
Interest Income (Expense), Net [Abstract]
Interest on borrowings and other liabilities	$ 48,392	$ 51,807	$ 95,633	$ 106,135
Amortization of deferred financing costs	3,498	4,193	7,095	8,384
Interest expense	51,890	56,000	102,728	114,519
Less: Interest income	(748)	(382)	(1,007)	(712)
Less: Capitalized interest	(555)	(205)	(840)	(357)
Interest, net	$ 50,587	$ 55,413	$ 100,881	$ 113,450

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended		6 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Aug. 31, 2022 USD ($) aircraft	Aug. 31, 2021 USD ($)	Aug. 31, 2022 USD ($) aircraft	Aug. 31, 2021 USD ($)
Types of Commercial Aircraft [Line Items]
Rent expense	$ 400	$ 400	$ 900	$ 800
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2023 (Remainder of fiscal year)	899		899
2024	1,747		1,747
2025	1,778		1,778
2026	1,630		1,630
2027	1,571		1,571
Thereafter	2,412		2,412
Total	$ 10,037		$ 10,037
Committed to acquire aircraft \| aircraft	21		21
Purchase Obligation, Fiscal Year Maturity [Abstract]
2023 (Remainder of fiscal year)	$ 375,356		$ 375,356
2024	178,315		178,315
2025	194,469		194,469
2026	0		0
2027	0		0
Thereafter	0		0
Total	748,140		748,140
Pre-Delivery Payments
Purchase Obligation, Fiscal Year Maturity [Abstract]
Total	$ 54,400		$ 54,400

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Feb. 28, 2022
Principal components of other assets
Deferred income tax asset	$ 465	$ 570
Lease incentives and lease premiums, net of amortization of $82,250 and $81,553, respectively	55,152	53,513
Flight equipment held for sale	32,852	77,636
Aircraft purchase deposits and Embraer E-2 progress payments	67,533	56,157
Right-of-use asset	5,519	7,176
Deferred rent receivable	47,634	55,478
Other assets	117,986	105,796
Total other assets	327,141	356,326
Lease Incentives and Lease Premiums, Accumulated Amortization	$ 82,250	$ 81,553

Accounts Payable, Accrued Exp_3

Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Feb. 28, 2022
Payables and Accruals [Abstract]
Accounts payable, accrued expenses and other liabilities	$ 70,436	$ 58,882
Deferred income tax liability	72,606	66,123
Accrued interest payable	43,755	42,013
Lease liability	7,935	9,846
Lease discounts, net of amortization of $45,481 and $45,546, respectively	272	560
Total accounts payable, accrued expenses and other liabilities	195,004	177,424
Deferred Lease Income, Accumulated Amortization	$ 45,481	$ 45,546

Subsequent Event - Narrative (D

Subsequent Event - Narrative (Details) $ in Thousands			3 Months Ended		6 Months Ended
Subsequent Event - Narrative (Details) $ in Thousands	Oct. 07, 2022 USD ($) aircraft	Sep. 08, 2022 USD ($) numberOfRevolvingCreditFacilities	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)
Subsequent Event [Line Items]
Proceeds from Sale of Flight Equipment					$ 171,065	$ 77,900
Gain on sale of flight equipment			$ 10,049	$ 1,502	$ 13,736	$ 10,524
Subsequent Event [Member] \| Revolving Credit Facility \| 2013 Revolving Credit Facility \| Revolving Credit Facility
Subsequent Event [Line Items]
Individual Debt Instrument at Time of Issuance Part of Overall Portfolio of Revolving Credit Facilities \| numberOfRevolvingCreditFacilities		1
Subsequent Event [Member] \| Revolving Credit Facility \| 2013 Revolving Credit Facility \| Line of Credit
Subsequent Event [Line Items]
Proceeds from Unsecured Lines of Credit		$ 100,000
Line of Credit Facility, Current Borrowing Capacity		$ 1,000,000
Subsequent Event [Member] \| Freighter
Subsequent Event [Line Items]
Property, Plant and Equipment, Number of Aircraft Sold \| aircraft	2
Subsequent Event [Member] \| Freighter and Widebody Aircraft
Subsequent Event [Line Items]
Gain on sale of flight equipment	$ 53,000
Subsequent Event [Member] \| Wide-body [Member]
Subsequent Event [Line Items]
Property, Plant and Equipment, Number of Aircraft Sold \| aircraft	1