Company: AYR
Filing Date: 2025-01-10
Form Type: 10-Q
Source: 0001628280-25-001098
Chunk: 28

Company: Aircastle LTD
Filing Date: 2025-01-10
Form: 10-Q
Item: Part I, Item 1
Chunk 28
---
 follows:

CustomerCountryPercent of Net Book ValueNumber ofAircraftIndiGoIndia8.7%14 KLMNetherlands5.9%13 American AirlinesUnited States4.7%13 LATAMChile4.2%10 Lion Air(1)Indonesia3.9%10 Aerolineas ArgentinasArgentina3.4%7 Frontier AirlinesUnited States3.3%5 Wizz AirHungary3.1%5 VuelingSpain2.9%8 Viva AerobusMexico2.9%6 Total top ten customers43.0%91 All other customers57.0%153 Total all customers100.0%244 

(1)  Includes 6 aircraft on lease with 3 affiliated airlines.

26

COMPARATIVE RESULTS OF OPERATIONS

Results of Operations for the three months ended November 30, 2024, as compared to the three months ended November 30, 2023:

 Three Months Ended November 30, 20242023 (Dollars in thousands)Revenues:Lease rental revenue$158,440 $156,820 Direct financing and sales-type lease revenue5,294 4,835 Amortization of lease premiums, discounts and incentives(5,288)(2,641)Maintenance revenue 14,517 58,657 Total lease revenue172,963 217,671 Gain on sale or disposition of flight equipment20,483 20,193 Other revenue130 882 Total revenues193,576 238,746 Operating expenses:Depreciation87,604 86,647 Interest, net58,752 57,037 Selling, general and administrative18,426 18,500 Provision for credit losses— 5,280 Impairment of flight equipment8,419 34,959 Maintenance and other costs4,872 7,107 Total operating expenses178,073 209,530 Other income:     Other6,135 1,529 Total other income6,135 1,529 Income from continuing operations before income taxes and earnings of unconsolidated equity method investment21,638 30,745 Income tax provision4,281 6,025 Earnings of unconsolidated equity method investment, net of tax738 925 Net income$18,095 $25,645