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Intangible Assets | 9 Months Ended
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Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Assets |
6. | Intangible Assets
The Company monitors for any indicators of impairment of the intangible assets. When certain conditions or changes in the economic situation such as the current environment brought by COVID-19 exist, the assets may be impaired and the carrying amount of the assets exceed its fair value. We determined that our reduced flying schedules and cash flow projections as a result of the COVID-19 pandemic indicate that an impairment loss may have been incurred. Therefore, we quantitatively assessed whether it was more likely than not that the intangible assets we hold have been impaired as of June 30, 2020. We reviewed our previous forecasts and assumptions based on our current projections that are subject to various risks and uncertainties, including: (1) forecasted revenues, expenses and cash flows, including the duration and extent of impact to our business from the COVID-19 pandemic, (2) current discount rates, (3) changes to the regulatory environment and (4) the nature and amount of government support that will be provided. Based on our carrying amount recoverability test, we have concluded that our finite-lived intangible assets are not impaired as of June 30, 2020. Given the uncertain future amid COVID-19, we will conduct additional tests in the 4th quarter of 2020. Information about the intangible assets of the Company at June 30, 2020 and September 30, 2019, were as follows (in thousands):
|  | June 30, |  |  | September 30, |
|  | 2020 |  |  | 2019 |
Customer relationship |  | $ | 43,800 |  |  | $ | 43,800 |
Accumulated amortization |  |  | (35,393 | ) |  |  | (34,268 | )
|  | $ | 8,407 |  |  | $ | 9,532 |
Total amortization expense recognized was approximately $0.4 million and $0.5 million for the three months ended June 30, 2020 and 2019, respectively, and $1.1 million and $1.4 million for the nine months ended June 30, 2020 and 2019, respectively. The Company expects to record amortization expense of $0.4 million for the remainder of 2020, and $1.2 million, $1.0 million, $0.9 million, $0.8 million for fiscal years 2021, 2022, 2023, and 2024, respectively.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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