Company: AYR
Filing Date: 2025-07-10
Form Type: 10-Q
Source: 0001628280-25-034715
Chunk: 74

Company: Aircastle LTD
Filing Date: 2025-07-10
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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India10.2%17 UnitedUnited States7.5%12 KLMNetherlands5.1%13 Frontier AirlinesUnited States4.5%7 LATAMChile4.1%11 American AirlinesUnited States4.0%13 Lion Air(1)Indonesia3.3%10 Viva AerobusMexico3.2%7 Aerolineas ArgentinasArgentina2.9%7 easyJetUnited Kingdom2.8%12 Total top ten customers47.6%109 All other customers52.4%155 Total all customers100.0%264 

(1)  Includes 6 aircraft on lease with 3 affiliated airlines.

25

COMPARATIVE RESULTS OF OPERATIONS

Results of Operations for the three months ended May 31, 2025, as compared to the three months ended May 31, 2024:

 Three Months Ended May 31, 20252024 (Dollars in thousands)Revenues:Lease rental revenue$183,043 $162,570 Direct financing and sales-type lease revenue5,142 5,457 Amortization of lease premiums, discounts and incentives2,766 (6,649)Maintenance revenue 38,132 42,149 Total lease revenue229,083 203,527 Gain on sale or disposition of flight equipment30,289 1,010 Other revenue472 636 Total revenues259,844 205,173 Operating expenses:Depreciation95,816 89,358 Interest, net68,841 64,813 Selling, general and administrative20,691 22,055 Provision for credit losses142 (145)Impairment of flight equipment5,066 5,211 Maintenance and other costs4,244 4,443 Total operating expenses194,800 185,735 Other expense:Loss on extinguishment of debt(2,973)—      Other(456)(304)Total other expense(3,429)(304)Income from continuing operations before income taxes and earnings of unconsolidated equity method investment61,615 19,134 Income tax provision12,721 3,572 Earnings of unconsolidated equity method investment, net of tax393 519 Net income$49,287 $16,081 

Revenues

Total revenues increased $54.