Company: AYR
Filing Date: 2025-07-10
Form Type: 10-Q
Source: 0001628280-25-034715
Chunk: 97

Company: Aircastle LTD
Filing Date: 2025-07-10
Form: 10-Q
Item: Part I, Item 2
Chunk 97
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 maintenance payment reimbursements and lease incentive payments.

29

Cash Flows

 Three Months Ended May 31, 20252024 (Dollars in thousands)Net cash flow provided by operating activities$127,872 $147,004 Net cash flow used in investing activities(249,175)(164,584)Net cash flow provided by financing activities65,481 52,207 

Operating Activities:

Cash flow provided by operating activities was $127.9 million and $147.0 million for the three months ended May 31, 2025 and 2024, respectively.  The decrease is attributable to lower end of lease cash maintenance payments due to fewer aircraft returns during the three months ended May 31, 2025, as well as higher cash paid for interest.

Investing Activities:

Cash flow used in investing activities was $249.2 million and $164.6 million for the three months ended May 31, 2025 and 2024, respectively.  The net increase of $84.6 million was primarily attributable to an increase of $254.7 million in the acquisition and improvement of flight equipment during the three months ended May 31, 2025.  Additionally, cash proceeds were higher from the sale or disposition of aircraft and other flight equipment during the three months ended May 31, 2025, by $201.4 million.

Financing Activities:

Cash flow provided by financing activities was $65.5 million and $52.2 million for the three months ended May 31, 2025 and 2024, respectively.  The increase of $13.3 million was primarily attributable to a $47.7 million increase in borrowings from secured and unsecured financings, net of repayments, during the three months ended May 31, 2025.  These inflows were offset by a $17.3 million increase in maintenance and security deposits returned, net of receipts, and an $11.0 million increase in dividends paid.

Debt Obligations

For complete information on our debt obligations, see Note 8 in the Notes to the Unaudited Consolidated Financial Statements.

Contractual Obligations

Our contractual obligations primarily consist of principal and interest payments on debt financings, aircraft acquisitions and rent payments pursuant to our office leases.  Total contractual obligations increased to $7.3 billion at May 31, 2025, from $6.7 billion at February 28, 2025, due to