Aircastle LTD Files Q1 2024 10-Q
Ticker: AYR · Form: 10-Q · Filed: Jul 11, 2024 · CIK: 1362988
| Field | Detail |
|---|---|
| Company | Aircastle Ltd (AYR) |
| Form Type | 10-Q |
| Filed Date | Jul 11, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-filing, financials
TL;DR
Aircastle LTD 10-Q filed for Q1 2024. Financials look steady.
AI Summary
Aircastle LTD filed a 10-Q for the period ending May 31, 2024. The filing details financial performance and operational status for the quarter. Key financial data and disclosures relevant to investors and stakeholders are presented.
Why It Matters
This filing provides crucial financial updates for Aircastle LTD, allowing investors to assess the company's performance and make informed decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Players & Entities
- Aircastle LTD (company) — Filer of the 10-Q
- 20240531 (date) — End of the reporting period
- 20240711 (date) — Filing date
- 0001362988 (company) — Central Index Key for Aircastle LTD
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended May 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 11, 2024.
What is Aircastle LTD's Central Index Key (CIK)?
Aircastle LTD's Central Index Key is 0001362988.
What is the Standard Industrial Classification (SIC) code for Aircastle LTD?
The SIC code for Aircastle LTD is 7359, which falls under SERVICES-EQUIPMENT RENTAL & LEASING, NEC.
What is the fiscal year end for Aircastle LTD?
Aircastle LTD's fiscal year ends on February 28.
Filing Stats: 4,483 words · 18 min read · ~15 pages · Grade level 17.9 · Accepted 2024-07-11 13:43:23
Key Financial Figures
- $0.01 — ch Registered Common Shares, par value $0.01 per share N/A NONE Preference Shares,
Filing Documents
- ayr-20240531.htm (10-Q) — 932KB
- ayrq12024ex101.htm (EX-10.1) — 16KB
- ayrq12024ex311.htm (EX-31.1) — 10KB
- ayrq12024ex312.htm (EX-31.2) — 10KB
- ayrq12024ex321.htm (EX-32.1) — 5KB
- ayrq12024ex322.htm (EX-32.2) — 5KB
- 0001628280-24-031668.txt ( ) — 5589KB
- ayr-20240531.xsd (EX-101.SCH) — 48KB
- ayr-20240531_cal.xml (EX-101.CAL) — 76KB
- ayr-20240531_def.xml (EX-101.DEF) — 194KB
- ayr-20240531_lab.xml (EX-101.LAB) — 489KB
- ayr-20240531_pre.xml (EX-101.PRE) — 349KB
- ayr-20240531_htm.xml (XML) — 783KB
– FINANCIAL INFORMATION
PART I. – FINANCIAL INFORMATION
Consolidated Financial Statements
Item 1. Consolidated Financial Statements Consolidated Balance Sheets as of May 31, 2024 and February 29, 2024 3 Consolidated Statements of Income and Comprehensive Income for the three months ended May 31, 2024 and 2023 4 Consolidated Statements of Cash Flows for the three months ended May 31, 2024 and 2023 5 Consolidated Statements of Changes in Shareholders' Equity for the three months ended May 31 , 202 4 and 202 3 7 Notes to Unaudited Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations 20
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 32
Controls and Procedures
Item 4. Controls and Procedures 33
– OTHER INFORMATION
PART II. – OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 34
Risk Factors
Item 1A. Risk Factors 34
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 34
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 34
Other Information
Item 5. Other Information 34
Exhibits
Item 6. Exhibits 35 SIGNATURE 37 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) May 31, 2024 February 29, 2024 (Unaudited) ASSETS Cash and cash equivalents $ 164,604 $ 129,977 Accounts receivable 9,380 12,518 Flight equipment held for lease, net 7,047,120 6,940,502 Net investment in leases, net 279,901 282,439 Unconsolidated equity method investment 43,229 42,710 Other assets 278,458 271,807 Total assets $ 7,822,692 $ 7,679,953 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES Borrowings from secured financings, net $ 855,908 $ 875,397 Borrowings from unsecured financings, net 3,876,765 3,823,099 Accounts payable, accrued expenses and other liabilities 271,701 219,588 Lease rentals received in advance 63,137 52,654 Security deposits 71,488 69,544 Maintenance payments 533,838 505,897 Total liabilities 5,672,837 5,546,179 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 May 31, 2024 and February 29, 2024 — — Common shares, $ 0.01 par value, 250,000,000 shares authorized, 15,564 shares issued and outstanding at May 31, 2024 and February 29, 2024 — — Additional paid-in capital 2,078,774 2,078,774 Retained earnings 71,081 55,000 Total shareholders' equity 2,149,855 2,133,774 Total liabilities and shareholders' equity $ 7,822,692 $ 7,679,953 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 May 31, 2024 2023 Revenues: Lease rental revenue $ 162,570 $ 146,735 Direct financing and sales-type lease revenue 5,457 1,073 Amortization of lease premiums, discounts and incentives ( 6,649 ) ( 7,207 ) Maintenance