Aircastle LTD Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>Aircastle LTD submitted its Q3 2023 10-Q filing, detailing financial performance and position as of November 30, 2023.</b>

AI Summary

Aircastle LTD (AYR) filed a Quarterly Report (10-Q) with the SEC on January 11, 2024. Aircastle LTD filed a 10-Q report for the period ending November 30, 2023. The filing covers the third quarter of fiscal year 2023. The company's fiscal year ends on February 28. The filing includes financial data for the periods ending November 30, 2023, and November 30, 2022. Key financial statement components like common stock, preferred stock, additional paid-in capital, and retained earnings are detailed for various dates within 2022 and 2023.

Why It Matters

For investors and stakeholders tracking Aircastle LTD, this filing contains several important signals. This 10-Q provides investors with an updated view of Aircastle's financial health and operational performance for the most recent fiscal quarter. The detailed breakdown of equity accounts and comparative periods allows for analysis of financial trends and stability.

Risk Assessment

Risk Level: low — Aircastle LTD shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative disclosures beyond routine financial reporting.

Analyst Insight

Review the detailed balance sheet and income statement data within the 10-Q to assess Aircastle's financial performance and position compared to previous periods.

Key Numbers

• 2023-11-30 — Period End Date (Conformed period of report)
• 2024-01-11 — Filing Date (Date the 10-Q was filed)
• 2023 Q3 — Fiscal Quarter (The quarter being reported)
• 0228 — Fiscal Year End (Aircastle's fiscal year end date)

Key Players & Entities

• Aircastle LTD (company) — Filer of the 10-Q report
• 2023-11-30 (date) — Conformed period of report
• 2024-01-11 (date) — Filed as of date
• 0001362988 (company) — Central Index Key for Aircastle LTD
• 7359 (industry_code) — Standard Industrial Classification for Services-Equipment Rental & Leasing, NEC
• 2023-03-01 (date) — Start of reporting period for Q3 2023
• 2022-11-30 (date) — Comparative period end date
• USD (currency) — Currency used for financial reporting

Forward-Looking Statements

• Aircastle LTD will continue to maintain stable common and preferred stock levels in the next fiscal quarter. (Aircastle LTD) — medium confidence, target: 2024-05-31

FAQ

Industry Context

Aircastle operates in the aircraft leasing industry, providing commercial aircraft and related equipment to airlines worldwide.

Regulatory Implications

As a publicly traded company, Aircastle is subject to SEC regulations and reporting requirements, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity.
2. Review any disclosed notes to the financial statements for further details.
3. Compare key financial metrics to prior periods to identify trends.

Key Dates

• 2023-11-30: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-01-11: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is a standard 10-Q for the period ending November 30, 2023, providing updated financial information compared to the previous quarter and year.

Key Financial Figures

• $0.01 — ch Registered Common Shares, par value $0.01 per share N/A NONE Preference Shares,

Filing Documents

• ayr-20231130.htm (10-Q) — 1173KB
• ayrq32023ex311.htm (EX-31.1) — 10KB
• ayrq32023ex312.htm (EX-31.2) — 10KB
• ayrq32023ex321.htm (EX-32.1) — 5KB
• ayrq32023ex322.htm (EX-32.2) — 5KB
• 0001628280-24-001136.txt (&nbsp;) — 6271KB
• ayr-20231130.xsd (EX-101.SCH) — 54KB
• ayr-20231130_cal.xml (EX-101.CAL) — 77KB
• ayr-20231130_def.xml (EX-101.DEF) — 216KB
• ayr-20231130_lab.xml (EX-101.LAB) — 589KB
• ayr-20231130_pre.xml (EX-101.PRE) — 376KB
• ayr-20231130_htm.xml (XML) — 923KB

– FINANCIAL INFORMATION

PART I. – FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements Consolidated Balance Sheets as of November 30, 2023 and February 28, 2023 3 Consolidated Statements of Income and Comprehensive Income for the three and nine months ended November 30, 2023 and 2022 4 Consolidated Statements of Cash Flows for the nine months ended November 30, 2023 and 2022 5 Consolidated Statements of Changes in Shareholders' Equity for the three and nine months ended November 3 0 , 2023 and 2022 7 Notes to Unaudited Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 38

Controls and Procedures

Item 4. Controls and Procedures 38

– OTHER INFORMATION

PART II. – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 39

Risk Factors

Item 1A. Risk Factors 39

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 39

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 39

Other Information

Item 5. Other Information 39

Exhibits

Item 6. Exhibits 40 SIGNATURE 41 2

— FINANCIAL INFORMATION

PART I. — FINANCIAL INFORMATION

CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS Aircastle Limited and Subsidiaries Consolidated Balance Sheets (Dollars in thousands, except share data) November 30, 2023 February 28, 2023 (Unaudited) ASSETS Cash and cash equivalents $ 105,832 $ 231,861 Accounts receivable 13,012 12,855 Flight equipment held for lease, net 6,588,340 6,567,606 Net investment in leases, net 248,842 67,694 Unconsolidated equity method investment 42,292 40,505 Other assets 300,204 346,330 Total assets $ 7,298,522 $ 7,266,851 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES Borrowings from secured financings, net $ 894,913 $ 752,298 Borrowings from unsecured financings, net 3,455,505 3,842,454 Accounts payable, accrued expenses and other liabilities 219,547 206,473 Lease rentals received in advance 56,710 66,816 Security deposits 64,606 61,734 Maintenance payments 492,350 465,618 Total liabilities 5,183,631 5,395,393 Commitments and Contingencies SHAREHOLDERS' EQUITY Preference shares, $ 0.01 par value, 50,000,000 shares authorized, 400 (aggregate liquidation preference of $ 400,000 ) shares issued and outstanding at November 30, 2023 and February 28, 2023 — — Common shares, $ 0.01 par value, 250,000,000 shares authorized, 15,564 and 14,048 shares issued and outstanding at November 30, 2023 and February 28, 2023, respectively — — Additional paid-in capital 2,078,774 1,878,774 Retained earnings (accumulated deficit) 36,117 ( 7,316 ) Total shareholders' equity 2,114,891 1,871,458 Total liabilities and shareholders' equity $ 7,298,522 $ 7,266,851 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 Aircastle Limited and Subsidiaries Consolidated Statements of Income and Comprehensive Income (Dollars in thousands) (Unaudited) Three Months Ended November 30, Nine Months Ended November 30, 2023 2022 2023 2022 Revenues: Lease rental revenue $ 156,820 $ 142,336 $ 453,906 $ 432,988 Direct financing

View Full Filing

View this 10-Q filing on SEC EDGAR