| Lessee, Operating Lease, Liability, Maturity |
The following is a summary of the terms related to aircraft leased under operating leases with original or remaining terms in excess of one year as of June 30, 2020 (Successor):
|
|
|
|
|
End of Lease Term |
|
Number of
Aircraft
|
Nine months ending March 31, 2021 to fiscal year 2022 |
|
16 |
|
Fiscal year 2023 to fiscal year 2024 |
|
19 |
|
Fiscal year 2025 to fiscal year 2026 |
|
10 |
|
|
|
45 |
|
As of June 30, 2020 (Successor), aggregate future payments under all non-cancelable operating leases that have initial or remaining terms in excess of one year, including leases for 45 aircraft, are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aircraft |
|
Other |
|
Total |
Fiscal year ending March 31, |
|
|
|
|
|
2021 |
$ |
66,042 |
|
|
$ |
8,143 |
|
|
$ |
74,185 |
|
2022 |
77,249 |
|
|
8,476 |
|
|
85,725 |
|
2023 |
58,595 |
|
|
8,156 |
|
|
66,751 |
|
2024 |
46,005 |
|
|
7,711 |
|
|
53,716 |
|
2025 |
28,370 |
|
|
5,968 |
|
|
34,338 |
|
Thereafter |
2,169 |
|
|
25,165 |
|
|
27,334 |
|
|
$ |
278,430 |
|
|
$ |
63,619 |
|
|
$ |
342,049 |
|
|
| Assets and Liabilities, Lessee |
Operating leases as of June 30 and March 31, 2020 (Successor) were as follow (in thousands, except years and percentages):
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2020 |
|
March 31, 2020 |
Operating lease right-of-use assets |
|
$ |
297,072 |
|
|
$ |
305,962 |
|
|
|
|
|
|
Current portion of operating lease liabilities |
|
81,953 |
|
|
81,484 |
|
Operating lease liabilities |
|
214,125 |
|
|
224,595 |
|
Total operating lease liabilities |
|
$ |
296,078 |
|
|
$ |
306,079 |
|
|
|
|
|
|
Weighted average remaining lease term |
|
5 years |
|
|
4 years |
|
Weighted average discount rate |
|
6.26 |
% |
|
6.27 |
% |
|
|
|
|
|
|
|
Successor |
|
Predecessor |
|
|
Three Months Ended June 30, 2020 |
|
Three Months Ended June 30, 2019 |
|
|
|
|
|
Cash paid for operating leases |
|
$ |
27,808 |
|
|
$ |
36,650 |
|
ROU assets obtained in exchange for lease obligations |
|
$ |
4,217 |
|
|
$ |
48,068 |
|
|
| Rent Expense |
Rent expense incurred is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
Successor |
|
Predecessor |
|
Three Months
Ended
June 30, 2020
|
|
Three Months Ended
June 30, 2019
|
Rent expense under all operating leases |
$ |
30,906 |
|
|
$ |
52,189 |
|
Rent expense under operating leases for aircraft |
$ |
26,012 |
|
|
$ |
46,447 |
|
|