Fan trays and components thereof are described herein. In some embodiments, a removable, compact fan tray is configured to be disposed within a slot of a chassis. The fan tray can be latchably coupled to the chassis, and/or can include a light source, such as an LED operable to depict the status of the fan tray. Leads of the light source can be disposed within an sleeve operable to contain and/or insulate the leads. The fan tray can, in some embodiments, be configured to be keyed to a particular type of chassis slot, for example, a slot associated with an air flow direction.