Company: AYR
Filing Date: 2025-01-10
Form Type: 10-Q
Source: 0001628280-25-001098
Chunk: 1

Company: Aircastle LTD
Filing Date: 2025-01-10
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 thousands)

(Unaudited)

Three Months Ended November 30,Nine Months Ended November 30,2024202320242023Revenues:Lease rental revenue$158,440 $156,820 $483,389 $453,906 Direct financing and sales-type lease revenue5,294 4,835 16,177 10,993 Amortization of lease premiums, discounts and incentives(5,288)(2,641)(18,005)(16,972)Maintenance revenue 14,517 58,657 76,044 108,223 Total lease revenue172,963 217,671 557,605 556,150 Gain on sale or disposition of flight equipment20,483 20,193 56,909 67,240 Other revenue130 882 903 1,803 Total revenues193,576 238,746 615,417 625,193 Operating expenses:Depreciation87,604 86,647 264,637 261,764 Interest, net58,752 57,037 185,989 170,963 Selling, general and administrative18,426 18,500 60,571 58,217 Provision for credit losses— 5,280 281 11,405 Impairment of flight equipment8,419 34,959 19,391 37,156 Maintenance and other costs4,872 7,107 13,411 24,494 Total operating expenses178,073 209,530 544,280 563,999 Other income:Gain on extinguishment of debt— — 285 — Other6,135 1,529 6,557 6,238 Total other income6,135 1,529 6,842 6,238 Income from continuing operations before income taxes and earnings of unconsolidated equity method investment21,638 30,745 77,979 67,432 Income tax provision4,281 6,025 16,881 15,286 Earnings of unconsolidated equity method investment, net of tax738 925 1,737 1,787 Net income$18,095 $25,645 $62,835 $53,933 Preference share dividends— — (10,500)(10,500)Net income available to common shareholders$