The Company includes its intangible assets of customer relationship in the asset group associated with the CRJ-900 fleet operating under the American CPA and monitors for any indicators of impairment of the asset group. When certain conditions or changes in the economic situation exist, the asset group may be impaired if the carrying amount of the assets is not recoverable and that carrying amount exceeds the asset group’s fair value. Due to the impacts of the pilot shortage and the pilot wage increase, we evaluated all asset groups during the quarter ended September 30, 2022 and determined that the asset group for the CRJ-900 fleet operating under the American CPA was impaired. As a result, the Company recognized an impairment loss of $1.9 million on the customer relationship related to the CRJ-900 fleet operating under the American CPA during the quarter ended September 30, 2022, which was recorded in asset impairment on our consolidated statements of operations and comprehensive (loss) income. The Company did not record any impairment losses related to its intangible assets during the years ended September 30, 2021 and 2020.

Information about the intangible assets of the Company at September 30, 2022 and 2021, is as follows (in thousands):

	September 30,			September 30,
	2022			2021
Customer relationship	$	43,800		$	43,800
Accumulated amortization		(38,029	)		(37,008	)
Impairment		(1,929	)		-
Net carrying value	$	3,842		$	6,792

Total amortization expense recognized was approximately $1.0 million, $1.2 million, and $1.5 million for the fiscal years ended September 30, 2022, 2021, and 2020. The Company’s intangible assets have a remaining amortization period

of three (3) years. The Company expects to record amortization expense of $1.3 million, $1.3 million, and $1.2 million for fiscal years 2023, 2024, and 2025, respectively.