Company: AYR
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001628280-25-044676
Chunk: 97

Company: Aircastle LTD
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 2
Chunk 97
---
GoIndia10.5%18 UnitedUnited States7.8%13 Frontier AirlinesUnited States5.0%8 KLMNetherlands4.9%13 American AirlinesUnited States4.2%14 LATAMChile3.9%11 Viva AerobusMexico3.4%8 Lion Air(1)Indonesia3.1%10 WestJetCanada3.0%5 Aerolineas ArgentinasArgentina2.7%7 Total top ten customers48.5%107 All other customers51.5%163 Total all customers100.0%270 

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

27

COMPARATIVE RESULTS OF OPERATIONS

Results of Operations for the three months ended August 31, 2025, as compared to the three months ended August 31, 2024:

 Three Months Ended August 31, 20252024 (Dollars in thousands)Revenues:Lease rental revenue$190,116 $162,379 Direct financing and sales-type lease revenue5,191 5,426 Amortization of lease premiums, discounts and incentives(1,513)(6,068)Maintenance revenue 9,708 19,378 Total lease revenue203,502 181,115 Gain on sale or disposition of flight equipment23,889 35,416 Other revenue119 137 Total revenues227,510 216,668 Operating expenses:Depreciation96,762 87,675 Interest, net70,529 62,424 Selling, general and administrative24,247 20,090 Provision for credit losses(116)426 Impairment of flight equipment31,153 5,761 Maintenance and other costs3,977 4,096 Total operating expenses226,552 180,472 Other income:Gain on extinguishment of debt— 285      Other61,041 726 Total other income61,041 1,011 Income from continuing operations before income taxes and earnings of unconsolidated equity method investment61,999 37,207 Income tax provision5,228 9,028 Earnings of unconsolidated equity method investment, net of tax462 480 Net income$57,233 $28,659 

Revenues

Total revenues increased $10.