Company: AYR
Filing Date: 2025-01-10
Form Type: 10-Q
Source: 0001628280-25-001098
Chunk: 23

Company: Aircastle LTD
Filing Date: 2025-01-10
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 Factors” in Part I - Item 1A of Aircastle’s Annual Report on Form 10-K for the year ended February 29, 2024.  In addition, new risks and uncertainties emerge from time to time, and it is not possible for Aircastle to predict or 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.

21

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 November 30, 2024, we owned and managed on behalf of our joint venture 253 aircraft leased to 76 airline customers located in 47 countries.  The net book value of our fleet (flight equipment held for lease and net investment in leases, or “Net Book Value”) was $7.1 billion as of November 30, 2024.  The weighted average age of our fleet was 9.7 years, and the weighted average remaining lease term was 5.2 years.  The weighted average utilization rate of our fleet was 99% for the nine months ended November 30, 2024.  During the nine months ended November 30, 2024, we purchased 21 aircraft and sold 20 aircraft and other flight equipment.  As of November 30, 2024, we had commitments to purchase 32 aircraft for $1.4 billion, with deliveries through the first quarter