Company: AYR
Filing Date: 2025-07-10
Form Type: 10-Q
Source: 0001628280-25-034715
Chunk: 61

Company: Aircastle LTD
Filing Date: 2025-07-10
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 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.AmountBalance at February 28, 2025$45,813 Earnings of unconsolidated equity method investment, net of tax393 Balance at May 31, 2025$46,206 On May 15, 2025, the Company received $1.0 million from our equity method investee as full repayment of the aggregate principal amount outstanding under a loan agreement.

14

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

Note 8. Borrowings from Secured and Unsecured Debt Financings

The outstanding amounts of our secured and unsecured debt financings were as follows: At May 31, 2025At February 28, 2025Debt ObligationOutstandingBorrowingsNumber of AircraftInterest RateFinal StatedMaturityOutstandingBorrowingsSecured Debt Financings:Secured Term Financings(1)$116,663 42.36% to 4.14%11/30/31 to 06/27/32$509,104 Less: Debt issuance costs and discounts(2,055)(6,495)Total secured debt financings, net of debt issuance costs and discounts114,608 502,609 Unsecured Debt Financings:Senior Notes due 2025650,000 5.25%08/11/25650,000 Senior Notes due 2026650,000 4.25%06/15/26650,000 2.850% Senior Notes due 2028750,000 2.85%01/26/28750,000 6.500% Senior Notes due 2028650,000 6.50%07/18/28650,000 Senior Notes due 2029650,000 5.95%02/15/29650