Company: AYR
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001628280-25-019189
Chunk: 59

Company: Aircastle LTD
Filing Date: 2025-04-23
Form: 10-K
Item: Item 16
Chunk 59
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 of net book value of flight equipment based on each lessee’s principal place of business as of:February 28/29,20252024RegionNet BookValueNet BookValue %NumberofLesseesNet BookValueNet BookValue %NumberofLesseesUnited States$1,223,496 16%7$806,162 11%5India1,046,978 14%3750,498 11%4The geographic concentration of our lease rental revenue earned from flight equipment held for lease was as follows:Year Ended February 28/29,Region202520242023Asia and Pacific29 %29 %33 %Europe31 %30 %29 %Middle East and Africa4 %4 %5 %North America25 %23 %19 %South America11 %14 %14 %Total100 %100 %100 %

F - 18

Aircastle Limited and SubsidiariesNotes to Consolidated Financial Statements(Dollars in thousands, except per share amounts)

The following table shows the number of lessees with lease rental revenue of at least 5% of total lease rental revenue and their combined total percentage of lease rental revenue for the periods indicated:Year Ended February 28/29,202520242023Number of LesseesCombined % ofLease Rental RevenueNumber of LesseesCombined % ofLease Rental RevenueNumber of LesseesCombined % ofLease Rental RevenueLargest lessees by lease rental revenue320%321%321%For the year ended February 28, 2025, total revenue attributable to the United States, Spain and India was 15%, 10% and 10%, respectively.  Total revenue attributable to the United States and Spain included $37.8 million and $40.5 million, respectively, from gains on sale or disposition of flight equipment and maintenance revenue.For the year ended February 29, 2024, no single country comprised 10% or more of total revenue.For the year ended February 28, 2023, total revenue attributable to the United States and India was 15% and 12%, respectively, and was partially driven by maintenance and other revenue and gains on sale of aircraft.

Note 7.  Unconsolidated Equity Method Investment

We have an equity method investment with Mizuho Leasing which has 8 aircraft with a net book value of $244.