Company: AYR
Filing Date: 2025-07-10
Form Type: 10-Q
Source: 0001628280-25-034715
Chunk: 12

Company: Aircastle LTD
Filing Date: 2025-07-10
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 %265 100 %_______________(1)We currently have 1 narrow-body freighter aircraft that we are marketing for lease or sale.

13

Aircastle Limited and SubsidiariesNotes to Unaudited Consolidated Financial Statements(Dollars in thousands, except per share amounts)May 31, 2025

The following table sets forth individual countries representing at least 10% of our Net Book Value as of May 31, 2025 and February 28, 2025: May 31, 2025February 28, 2025CountryNet BookValueNet BookValue %NumberofLesseesNet BookValueNet BookValue %NumberofLesseesUnited States$1,559,598 20%7$1,223,496 16%7India997,688 13%31,046,978 14%3The geographic concentration of our lease rental revenue earned from flight equipment held for lease was as follows: Three Months Ended May 31,Region20252024Asia and Pacific27 %28 %Europe30 %31 %Middle East and Africa5 %5 %North America28 %23 %South America10 %13 %Total100 %100 %The following table shows the number of lessees with lease rental revenue of at least 5% of total lease rental revenue and their combined total percentage of lease rental revenue for the periods indicated:Three Months Ended May 31,20252024Number of LesseesCombined % of Lease Rental RevenueNumber of LesseesCombined % of Lease Rental RevenueLargest lessees by lease rental revenue111%215%For the three months ended May 31, 2025, the United States comprised 23% of total revenue.  Total revenue attributable to the United States included $26.6 million from gains on sale or disposition of flight equipment.  For the three months ended May 31, 2024, South Korea and India comprised 12% and 10% of total revenue, respectively. Total revenue attributable to South Korea included $18.0 million of maintenance revenue as a result of a scheduled aircraft lease expiration.

Note 7. Unconsolidated Equity Method Investment

We have an unconsolidated equity method investment with Mizuho Leasing, which has 8 aircraft with a Net Book Value of $241.2 million at May 31, 2025