Company: AYR
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001628280-25-044676
Chunk: 2

Company: Aircastle LTD
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 1
Chunk 2
---
 $96,020 $34,240 Total comprehensive income available to common shareholders$46,733 $18,159 $96,020 $34,240 

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

4

Aircastle Limited and Subsidiaries

Consolidated Statements of Cash Flows

(Dollars in thousands)

(Unaudited)

Six Months Ended August 31,20252024Cash flows from operating activities:Net income$106,520 $44,740 Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:Depreciation192,578 177,033 Amortization of deferred financing costs9,129 8,590 Amortization of lease premiums, discounts and incentives(1,253)12,717 Deferred income taxes13,329 9,438 Collections on net investment in leases2,983 3,477 Security deposits, maintenance payments and insurance settlements included in earnings(88,490)(9,914)Gain on sale or disposition of flight equipment(54,178)(36,426)(Gain) loss on extinguishment of debt2,973 (285)Impairment of flight equipment36,219 10,972 Provision for credit losses26 281 Other(859)(1,008)Changes in certain assets and liabilities:Accounts receivable(745)(3,201)Other assets1,950 (4,690)Accounts payable, accrued expenses and other liabilities1,113 (19,235)Lease rentals received in advance(2,648)12,414 Net cash and cash equivalents provided by operating activities218,647 204,903 Cash flows from investing activities:Acquisition and improvement of flight equipment(980,225)(335,410)Proceeds from sale or disposition of flight equipment299,523 329,288 Proceeds from settlement of insurance claim40,926 — Proceeds from sale of investment in debt securities10,128 — Aircraft purchase deposits and progress payments, net of deposits returned and aircraft sales deposits(584)(1,069)Other588 (293)Net cash and cash equivalents used in investing activities(629,644)(7,484)Cash flows from financing activities:Proceeds from issuance of common shares— 300,000 Proceeds from secured and unsecured debt financings1,590,489 1,