Company: AYR
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001628280-25-044676
Chunk: 72

Company: Aircastle LTD
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 8
Chunk 72
---
quires, leases, and sells commercial jet aircraft to airlines throughout the world. We are a leading secondary market investor that sources aircraft through various acquisition channels that primarily include other aircraft lessors, airlines through purchase-leaseback transactions, financial institutions and other aircraft owners, and aircraft manufacturers. We have significant experience in successfully managing aircraft throughout their life cycle, including lease and technical management, aircraft redeliveries, transitions, and sales or disposals.  We sell aircraft and engine assets, either with a lease attached or on a part-out basis, with the aim of generating profits and reinvesting proceeds. Our aircraft are managed by an experienced team based in the United States, Ireland and Singapore.

As of August 31, 2025, we owned and managed on behalf of our joint venture 278 aircraft leased to 75 airline customers located in 46 countries.  The Net Book Value of our fleet was $8.5 billion as of August 31, 2025.  The weighted average age of our fleet was 8.6 years, and the weighted average remaining lease term was 5.7 years.  The weighted average utilization rate of our fleet was over 99% for the six months ended August 31, 2025.  During the six months ended August 31, 2025, we purchased 23 aircraft and sold 18 aircraft and other flight equipment.  As of August 31, 2025, we had commitments to purchase 20 aircraft for $1.0 billion, with deliveries through December 2027, which included estimated amounts for pre-delivery deposits, contractual price escalations and other adjustments.

Our total revenues, net income and Adjusted EBITDA were $487.4 million, $106.5 million and $494.4 million, respectively, for the six months ended August 31, 2025.  Cash flow provided by operating activities was $218.6 million for the six months ended August 31, 2025.  The Company’s financial performance reflects strong global passenger demand for air travel, as well as robust demand for our aircraft resulting from ongoing delivery delays and supply chain disruptions experienced by Original Equipment Manufacturers.  Sustained levels of lease extension requests, together with strong gains from aircraft and engine sales, contributed positively to our financial results. 

Growth in commercial air traffic has been correlated with world economic activity and has historically grown at a rate one to two times that of global gross domestic product growth. This expansion of air travel has driven