Quarterly report pursuant to Section 13 or 15(d)

ESCROW DEPOSITS

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ESCROW DEPOSITS
3 Months Ended
Mar. 31, 2014
Escrow Deposits [Abstract]  
ESCROW DEPOSITS
ESCROW DEPOSITS
In March 2014, the Company sold a B212 medium helicopter for cash proceeds totaling $3.0 million, net of fees. The sales transaction was treated as a tax-free like-kind exchange under Section 1031 under IRS regulations for tax purposes whereby all of the proceeds are held by a qualified intermediary and reflected as an escrow deposit in the consolidated balance sheet as of March 31, 2014. A qualified property has been identified to complete the like-kind exchange under Section 1031 prior to expiration of the 45-day period subsequent to the closing date.