Company: AYR
Filing Date: 2025-01-10
Form Type: 10-Q
Source: 0001628280-25-001098
Chunk: 20

Company: Aircastle LTD
Filing Date: 2025-01-10
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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362 Less: Interest income(4,995)(3,323)(9,315)(10,351)Less: Capitalized interest— (676)(662)(2,048)Interest, net$58,752 $57,037 $185,989 $170,963 

Note 13. Commitments and Contingencies

Rent expense, primarily for the corporate office and sales and marketing facilities, was $0.5 million and $0.6 million, and $1.5 million and $1.8 million for the three and nine months ended November 30, 2024 and 2023, respectively.As of November 30, 2024, Aircastle is obligated under non-cancelable operating leases relating principally to office facilities in Stamford, Connecticut; Dublin, Ireland; and Singapore for future minimum lease payments as follows:Year Ending February 28/29,Amount2025 (Remainder of fiscal year)$731 20262,754 20272,691 20282,723 20291,929 Thereafter15,214 Total$26,042 At November 30, 2024, we had commitments to purchase 32 aircraft for $1.4 billion.At November 30, 2024, commitments, including $34.4 million of remaining progress payments, contractual price escalations and other adjustments for these aircraft, net of amounts already paid, were as follows:Year Ending February 28/29,Amount2025 (Remainder of fiscal year)$592,534 2026586,456 2027202,295 202830,691 2029— Thereafter— Total$1,411,976 

19

Aircastle Limited and SubsidiariesNotes to Unaudited Consolidated Financial Statements(Dollars in thousands, except per share amounts)November 30, 2024

Note 14. Other Assets

Other assets consisted of the following as of November 30, 2024, and February 29, 2024:November 30,2024February 29,2024Deferred income tax asset$47 $48 Lease incentives and premiums, net of accumulated amortization of $88,550 and $90,408, respectively43,920 37,459 Flight equipment held for sale10,108 19,190 Aircraft purchase deposits and Embraer E-2 progress payments34,092 42,784