Company: AYR
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001628280-25-019189
Chunk: 73

Company: Aircastle LTD
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1
Chunk 73
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 next 12 months.  As of April 1, 2025, total liquidity of $2.7 billion included $2.1 billion of undrawn credit facilities, $0.5 billion of projected adjusted operating cash flows and sales through April 1, 2026 and $0.1 billion of unrestricted cash.

Our Competitive Strengths

We believe the following competitive strengths will allow us to capitalize on future growth opportunities in the global aviation industry:

•Diversified Portfolio of Modern Aircraft: We have a portfolio of modern aircraft that is diversified with respect to lessees, geographic markets, lease maturities and aircraft types.  As of February 28, 2025, our owned and managed aircraft portfolio consisted of 273 aircraft leased to 77 lessees in 47 countries.  Lease expirations for our owned aircraft are well dispersed, with a weighted-average remaining lease term of 5.4 years. This provides us with a long-dated base of contracted revenues. We believe our focus on portfolio diversification reduces the risks associated with individual lessee defaults and adverse geopolitical or economic issues, and results in generally predictable cash flows.

•Flexible, Disciplined Acquisition Approach and Broad Investment Sourcing Network: Our investment strategy is to seek out the best risk-adjusted return opportunities across the commercial jet market, so our acquisition targets vary with market opportunities. We source our acquisitions through well-established relationships with other aircraft lessors, airlines, financial institutions, other aircraft owners and aircraft and engine manufacturers.  Since our formation in 2004, we have acquired 645 aircraft for $21.3 billion as of February 28, 2025.  We have built our aircraft portfolio through more than 208 transactions with 109 counterparties as of February 28, 2025.

•Significant Experience in Successfully Selling Aircraft Throughout Their Life Cycle:  Our team is adept at managing and executing the sale of aircraft, either with a lease attached or on a part-out basis.  Since our formation, we have sold 354 aircraft to 110 buyers for $7.7 billion as of February 28, 2025. These sales produced net gains of $713.0 million and involved a wide range of aircraft types and buyers.  Of these aircraft, 251, or 71%, were over 14 years old at the time of sale; often being sold on a part-out disposition basis, where the airframe and engines may be sold to various buyers. We believe our competence in