Transition report pursuant to Rule 13a-10 or 15d-10

PROPERTY AND EQUIPMENT (Tables)

v3.22.4
PROPERTY AND EQUIPMENT (Tables)
 9 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, plant and equipment
As of December 31, 2022, the estimated useful life (in years) of the Company’s categories of new property and equipment was as follows:
Aircraft (estimated salvage value at 10%-25% of cost)
 30
Aircraft accessories and spares
5 - 7
Buildings (estimated salvage value at 10% of cost)
 30
Leasehold improvements
Lease term or 10
Other property and equipment
3-15
The following table presents details on the major classes of property and equipment as of (in thousands):
December 31, 2022 March 31, 2022
Aircraft $ 815,375  $ 802,913 
Land and buildings 170,495  180,188 
Other property and equipment 109,441  109,039 
Property and equipment, at cost $ 1,095,311  $ 1,092,140 
Less: accumulated depreciation (180,060) (149,532)
Property and equipment, net $ 915,251  $ 942,608