Company: AYR
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001628280-25-044676
Chunk: 94

Company: Aircastle LTD
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 2
Chunk 94
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We believe we have sufficient liquidity to meet our contractual obligations over the next twelve months.  As of October 1, 2025, total liquidity of $2.5 billion included $1.8 billion of undrawn credit facilities, $0.5 billion of projected adjusted operating cash flows and contracted asset sales and $0.2 billion of unrestricted cash through October 1, 2026.

23

Acquisitions and Sales

During the six months ended August 31, 2025, we purchased 23 aircraft for $968.1 million.  As of August 31, 2025, we had commitments to purchase 20 aircraft for $1.0 billion, with delivery through December 2027, which included estimated amounts for pre-delivery deposits, contractual price escalations and other adjustments.  As of October 1, 2025, we have purchased 4 additional aircraft and have commitments to purchase 19 aircraft for $954.9 million.

During the six months ended August 31, 2025, we sold 18 aircraft and other flight equipment for net proceeds of $299.5 million and recognized gains on the sale or disposition of flight equipment totaling $54.2 million.  As of October 1, 2025, we have sold 1 additional aircraft.

Fiscal Year 2025 Lease Expirations and Lease Placements

As of October 1, 2025, we had no off-lease aircraft and 3 aircraft with a lease expiring in fiscal year 2025, which combined account for less than 1% of our Net Book Value at August 31, 2025, remaining to be placed or sold.  We expect to sell or part out these 3 aircraft.

Fiscal Years 2026 to 2029 Lease Expirations and Lease Placements

Taking into account lease and sale commitments, we currently have the following number of aircraft with lease expirations scheduled in the fiscal years 2026 to 2029, representing the percentage of our Net Book Value as of August 31, 2025, specified below:

•2026: 27 aircraft, representing 8%;

•2027: 33 aircraft, representing 9%;

•2028: 33 aircraft, representing 9%; and

•2029: 36 aircraft, representing 12%.

Finance

We operate in a capital-intensive industry and have a demonstrated track record of raising substantial amounts of capital from debt and