Company: AYR
Filing Date: 2025-07-10
Form Type: 10-Q
Source: 0001628280-25-034715
Chunk: 69

Company: Aircastle LTD
Filing Date: 2025-07-10
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements.  Such forward-looking statements speak only as of the date of this report.  Aircastle expressly disclaims any obligation to revise or update publicly any forward-looking statement to reflect future events or circumstances.

WEBSITE AND ACCESS TO THE COMPANY’S REPORTS

The information on the Company’s Internet website is not part of, nor incorporated by reference, into this report, or any other report we file with, or furnish to, the SEC.

20

OVERVIEW

Aircastle acquires, 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 May 31, 2025, we owned and managed on behalf of our joint venture 272 aircraft leased to 78 airline customers located in 47 countries.  The Net Book Value of our fleet was $8.1 billion as of May 31, 2025.  The weighted average age of our fleet was 8.9 years, and the weighted average remaining lease term was 5.6 years.  The weighted average utilization rate of our fleet was over 99% for the three months ended May 31, 2025.  During the three months ended May 31, 2025, we purchased 12 aircraft and sold 14 aircraft and other flight equipment.  As of May 31, 2025, we had commitments to purchase 23 aircraft for $1.2 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 $259.8 million, $49.3 million and $231.9 million, respectively, for the three months ended May 31, 2025.  Cash flow provided by operating activities was $127.