Company: AYR
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001628280-25-044676
Chunk: 28

Company: Aircastle LTD
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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%49 23 %South America31 10 %29 12 %Off-lease— — %2 1 %Total270 100 %244100 %

(1)    Includes Airbus A320-200neo and A321-200neo, Boeing 737-MAX8, 737-MAX9, and Embraer E2 aircraft.

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The top ten customers for our owned aircraft at August 31, 2025, were as follows:

CustomerCountryPercent of Net Book ValueNumber ofAircraftIndiGoIndia10.5%18 UnitedUnited States7.8%13 Frontier AirlinesUnited States5.0%8 KLMNetherlands4.9%13 American AirlinesUnited States4.2%14 LATAMChile3.9%11 Viva AerobusMexico3.4%8 Lion Air(1)Indonesia3.1%10 WestJetCanada3.0%5 Aerolineas ArgentinasArgentina2.7%7 Total top ten customers48.5%107 All other customers51.5%163 Total all customers100.0%270 

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

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COMPARATIVE RESULTS OF OPERATIONS

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

 Three Months Ended August 31, 20252024 (Dollars in thousands)Revenues:Lease rental revenue$190,116 $162,379 Direct financing and sales-type lease revenue5,191 5,426 Amortization of lease premiums, discounts and incentives(1,513)(6,068)Maintenance revenue 9,708 19,378 Total lease revenue203,502 181,115 Gain on sale or disposition of flight equipment23,889 35,416 Other revenue119 137 Total revenues227,510 216,668 Operating expenses:Depreciation96,762 87,675 Interest, net70,529 62,424 Selling, general and administrative24,247 20,090 Provision for credit losses(116)426 Impairment of flight equipment31,153 5,761 Maintenance and other costs3,977 4,096 Total operating