Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 3 Months Ended
Jun. 30, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
Property and Equipment Acquisitions
The Company made capital expenditures as follows (in thousands):
Three Months Ended June 30,
  2021 2020
Capital expenditures:
Aircraft and equipment $ 2,250  $ 2,757 
Land and buildings 718  92 
Total capital expenditures $ 2,968  $ 2,849 
Property and Equipment Dispositions
The following table presents details on the aircraft sold or disposed of (in thousands, except for number of aircraft):
Three Months Ended June 30,
2021 2020
Number of aircraft sold or disposed of
3  1 
Proceeds from sale or disposal of assets $ 10,621  $ 11,665 
Deposits on assets held for sale
 $ —  $ 20,000 
Gain on disposal of assets $ 499  $ 5,522 
During the three months ended June 30, 2021, the Company recognized a $5.9 million loss on impairment in connection with certain aircraft held for sale to reflect the aircraft at expected sales values.