RELATED PARTY TRANSACTIONS
|3 Months Ended|
Jun. 30, 2022
|Related Party Transactions [Abstract]|
|RELATED PARTY TRANSACTIONS||RELATED PARTY TRANSACTIONS
We own a 25% voting interest and a 40% economic interest in Cougar Helicopters Inc. (“Cougar”), an aviation services provider in Canada. Due to common ownership of Cougar, the Company considers VIH Aviation Group Ltd. and its subsidiaries (“Cougar Related Parties”) as a related party.
During the three months ended June 30, 2022 and 2021, the Company generated total revenues of $4.8 million and $8.6 million from Cougar Related Parties and also paid lease fees of $1.2 million and $2.0 million to Cougar Related Parties for leased aircraft, respectively.
As of June 30, 2022 and March 31, 2022, accounts receivables from Cougar Related Parties included in accounts receivables on the condensed consolidated balance sheets were $1.0 million and $1.8 million, respectively.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef