Company: AYR
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001628280-25-019189
Chunk: 126

Company: Aircastle LTD
Filing Date: 2025-04-23
Form: 10-K
Item: Item 7
Chunk 126
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58 26 %46 23 %South America29 11 %32 14 %Off-lease1 (2)— %3 1 %Total265 100 %243 100 % _______________

(1)Includes Airbus A320-200neo and A321-200neo, Boeing 737-MAX8 and 737-MAX9, and Embraer E2 aircraft. 

(2)We currently have 1 narrow-body freighter aircraft that we are marketing for lease or sale.

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The top ten customers for our owned aircraft at February 28, 2025 were as follows:

CustomerPercent of Net Book ValueCountryNumber ofAircraftIndiGo11.1%India18 KLM5.3%Netherlands13 easyJet4.6%United Kingdom22 American Airlines4.2%United States13 United4.0%United States7 Frontier Airlines3.8%United States6 LATAM3.8%Chile10 Lion Air(1)3.4%Indonesia10 Viva Aerobus3.3%Mexico7 Aerolineas Argentinas3.0%Argentina7    Total top ten customers46.5%113 All other customers53.5%152    Total all customers100.0%265 

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

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COMPARATIVE RESULTS OF OPERATIONS

Results of Operations for the year ended February 28, 2025 as compared to the year ended February 29, 2024:

 Year Ended February 28/29, 20252024 (Dollars in thousands)Revenues:Lease rental revenue$652,379 $603,571 Direct financing and sales-type lease revenue21,295 16,503 Amortization of lease premiums, discounts and incentives(21,682)(20,420)Maintenance revenue90,490 132,179 Total lease revenue742,482 731,833 Gain on sale or disposition of flight equipment77,191 121,646 Other revenue1,302 1,937 Total revenues820,975 855,416 Operating expenses:Depreciation355,666 348,229 Interest, net247,923 229,050 Selling, general and administrative86,416 82,127 Provision for credit losses