Company: AYR
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001628280-25-019189
Chunk: 40

Company: Aircastle LTD
Filing Date: 2025-04-23
Form: 10-K
Item: Item 16
Chunk 40
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shares authorized, 400 (aggregate liquidation preference of $400,000) shares issued and outstanding at February 28, 2025 and February 29, 2024— — Common shares, $0.01 par value, 250,000,000 shares authorized, 17,840 and 15,564 shares issued and outstanding at February 28, 2025 and February 29, 2024, respectively— — Additional paid-in capital2,378,774 2,078,774 Retained earnings146,613 55,000 Total shareholders’ equity2,525,387 2,133,774 Total liabilities and shareholders’ equity$8,510,164 $7,679,953 

The accompanying notes are an integral part of these consolidated financial statements.

F - 4

Aircastle Limited and Subsidiaries

Consolidated Statements of Income and Comprehensive Income

(Dollars in thousands, except per share amounts)

 Year Ended February 28/29, 202520242023Revenues:Lease rental revenue$652,379 $603,571 $586,508 Direct financing and sales-type lease revenue21,295 16,503 9,030 Amortization of lease premiums, discounts and incentives(21,682)(20,420)(20,574)Maintenance revenue90,490 132,179 138,099 Total lease revenue742,482 731,833 713,063 Gain on sale or disposition of flight equipment77,191 121,646 70,860 Other revenue1,302 1,937 12,110 Total revenues820,975 855,416 796,033 Operating expenses:Depreciation355,666 348,229 332,663 Interest, net247,923 229,050 204,606 Selling, general and administrative86,416 82,127 76,857 Provision for credit losses8,715 12,081 1,507 Impairment of flight equipment19,391 55,240 85,623 Maintenance and other costs16,938 29,884 22,196 Total operating expenses735,049 756,611 723,452 Other income (expense):Gain (loss) on extinguishment of debt285 — (636)Other56,247 5,571 14