Company: AYR
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001628280-25-044676
Chunk: 26

Company: Aircastle LTD
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 number of aircraft with lease expirations scheduled in the fiscal years 2026 to 2029, representing the percentage of our Net Book Value as of August 31, 2025, specified below:

•2026: 27 aircraft, representing 8%;

•2027: 33 aircraft, representing 9%;

•2028: 33 aircraft, representing 9%; and

•2029: 36 aircraft, representing 12%.

Finance

We operate in a capital-intensive industry and have a demonstrated track record of raising substantial amounts of capital from debt and equity investors.  Since our inception in late 2004, we have raised $2.6 billion in equity capital from private and public investors.  We also have raised $24.7 billion in debt capital from a variety of sources, including the unsecured bond market, commercial banks, export credit agency-backed debt, the aircraft securitization market and Japanese Operating Lease with Call Option financings, which have been originated by Marubeni.  The diversity and global nature of our financing sources demonstrate our ability to adapt to changing market conditions and seize new growth opportunities.

We intend to fund new investments through cash on hand, funds generated from operations, maintenance payments received from lessees, equity offerings, unsecured bond offerings, borrowings secured by our aircraft, draws under our revolving credit facilities and proceeds from any future aircraft sales.  We may repay all or a portion of such borrowings from time to time with the net proceeds from subsequent long-term debt financings, additional equity offerings or cash generated from operations and asset sales.  Therefore, our ability to execute our business strategy, particularly the acquisition of additional commercial jet aircraft or other aviation assets, depends to a significant degree on our ability to obtain additional debt and equity capital on terms we deem attractive.

See “Liquidity and Capital Resources” below.

24

AIRCASTLE AIRCRAFT INFORMATION

The following table sets forth certain information with respect to our owned aircraft and aircraft managed by us on behalf of our joint venture as of August 31, 2025 and 2024:

As of August 31,20252024Owned Aircraft(Dollars in millions)Net Book Value of Flight Equipment$8,470 $7,077 Net Book Value of Unencumbered Flight Equipment$8,351 $6,043 Number of Aircraft270 244 Number of Unencumbered Aircraft266 214 Number of Lessees75 77 Number