earnings
confidence high
sentiment neutral
materiality 0.60
Aircastle reports Q1 net income $34M, revenue $236M; raises $1B in new financings
Aircastle LTD
- Total revenues $236M, net income $34M; lease rental revenue up 6% YoY.
- Adjusted EBITDA $208M; acquired 4 aircraft for $117M, sold 5 for $114M with $11M gains.
- Raised $1B: $650M unsecured notes at 5.000% and $375M unsecured term loan (expandable to $425M).
- Fleet utilization 97.9% (down from 99.5% YoY); 270 unencumbered aircraft with NBV $8.3B.
- Total liquidity $2.6B; 98% of debt unsecured; adjusted net debt-to-equity 2.2x.