Company: AYR
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001628280-25-044676
Chunk: 20

Company: Aircastle LTD
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 1
Chunk 20
---
 Net

The following table shows the components of interest, net: Three Months EndedAugust 31,Six Months Ended August 31, 2025202420252024Interest on borrowings and other liabilities$68,624 $61,762 $134,901 $123,629 Amortization of deferred financing fees and debt discount4,659 4,247 9,129 8,590 Interest expense73,283 66,009 144,030 132,219 Less: Interest income(2,754)(3,585)(4,660)(4,320)Less: Capitalized interest— — — (662)Interest, net$70,529 $62,424 $139,370 $127,237 

Note 13. Commitments and Contingencies

Rent expense, for office space leased in Stamford, Connecticut, Dublin, Ireland and Singapore was $0.4 million and $0.5 million for the three months ended August 31, 2025 and 2024, respectively, and $0.9 million and $1.0 million for the six months ended August 31, 2025 and 2024, respectively.As of August 31, 2025, future minimum lease payments relating to our non-cancelable office leases were as follows:Year Ending February 28/29,Amount2026 (Remainder of fiscal year)$1,592 20273,201 20283,232 20292,438 20301,629 Thereafter15,795 Total$27,887 At August 31, 2025, we had commitments to purchase 20 aircraft for $1.0 billion.At August 31, 2025, commitments, including $34.4 million of remaining progress payments, contractual price escalations and other adjustments for these aircraft, net of amounts already paid, were as follows:Year Ending February 28/29,Amount2026 (Remainder of fiscal year)$186,834 2027607,951 2028162,991 2029— 2030— Thereafter— Total$957,776 

19

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

Note 14. Other Assets

Other assets consisted of the following as of August 31