Company: AYR
Filing Date: 2025-01-10
Form Type: 10-Q
Source: 0001628280-25-001098
Chunk: 90

Company: Aircastle LTD
Filing Date: 2025-01-10
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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, primarily from lease rentals and maintenance collections, including end-of-lease maintenance payments.  We have also met our liquidity and capital resource needs by utilizing several sources over time, including:

•unsecured indebtedness, including our current unsecured revolving credit facilities and senior notes;

•various forms of borrowing secured by our aircraft, including term facilities, term financings and limited recourse securitization financings for new aircraft acquisitions;

•asset sales; and

•issuance of common and preference shares.

Going forward, we expect to continue to seek liquidity from these sources and other sources, subject to pricing and conditions we consider satisfactory.

During the nine months ended November 30, 2024, we met our liquidity and capital resource needs with $367.1 million of cash flows from operations and $474.1 million of proceeds from the sale or disposition of aircraft and other flight equipment.

As of November 30, 2024, the weighted average maturity of our secured and unsecured debt financings was 3.3 years, and we were in compliance with all applicable covenants.

We believe we have sufficient liquidity to meet our contractual obligations over the next twelve months.  As of January 1, 2025, total liquidity of $2.8 billion included $2.1 billion of undrawn credit facilities, $0.5 billion of projected adjusted operating cash flows and contracted asset sales and $0.2 billion of unrestricted cash through January 1, 2026.  In addition, we believe payments received from lessees and other funds generated from operations, unsecured bond offerings, borrowings secured by our aircraft, borrowings under our revolving credit facilities and other borrowings and proceeds from future aircraft sales will be sufficient to satisfy our liquidity and capital resource needs over the next twelve months. Our liquidity and capital resource needs include payments due under our aircraft purchase obligations, required principal and interest payments under our long-term debt facilities, expected capital expenditures, lessee maintenance payment reimbursements and lease incentive payments.

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Cash Flows

 Nine Months Ended November 30, 20242023 (Dollars in thousands)Net cash flow provided by operating activities$367,062 $309,067 Net cash flow used in investing activities(116,553)(473,203)Net cash flow provided by financing activities143,267 38,107 

Operating Activities:

Cash flow provided by operating activities was $367.1 million and $309.1 million for the nine months ended November