Aircastle LTD Files 10-Q for Q3 FY2024

TL;DR

Aircastle's Q3 10-Q is in. Check financials for aircraft leasing performance.

AI Summary

Aircastle LTD filed its 10-Q for the period ending November 30, 2024. The filing covers the third quarter of their fiscal year, which ends on February 28. Key financial data and operational details for this period are presented.

Why It Matters

This filing provides investors with a quarterly update on Aircastle's financial performance and operational status, crucial for understanding the company's health in the aircraft leasing market.

Risk Assessment

Risk Level: medium — As a company in the aircraft leasing sector, Aircastle is subject to market volatility, economic downturns, and geopolitical risks that can impact its financial performance.

Key Numbers

• 20241130 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
• 20250110 — Filing Date (Shows when the report was officially submitted to the SEC.)

Key Players & Entities

• Aircastle LTD (company) — Filer of the 10-Q
• 20241130 (date) — End of the reporting period
• 0001362988 (company) — Central Index Key for Aircastle LTD
• 20250110 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• ayr-20241130.htm (10-Q) — 1154KB
• ayrq32024ex101.htm (EX-10.1) — 36KB
• ayrq32024ex311.htm (EX-31.1) — 10KB
• ayrq32024ex312.htm (EX-31.2) — 10KB
• ayrq32024ex321.htm (EX-32.1) — 5KB
• ayrq32024ex322.htm (EX-32.2) — 5KB
• 0001628280-25-001098.txt ( ) — 6260KB
• ayr-20241130.xsd (EX-101.SCH) — 52KB
• ayr-20241130_cal.xml (EX-101.CAL) — 80KB
• ayr-20241130_def.xml (EX-101.DEF) — 214KB
• ayr-20241130_lab.xml (EX-101.LAB) — 516KB
• ayr-20241130_pre.xml (EX-101.PRE) — 370KB
• ayr-20241130_htm.xml (XML) — 908KB

– FINANCIAL INFORMATION

PART I. – FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements Consolidated Balance Sheets as of November 30, 2024 and February 29, 2024 3 Consolidated Statements of Income and Comprehensive Income for the three and nine months ended November 30, 2024 and 2023 4 Consolidated Statements of Cash Flows for the nine months ended November 30, 2024 and 2023 5 Consolidated Statements of Changes in Shareholders' Equity for the three and nine months ended November 30 , 2024 and 2023 7 Notes to Unaudited Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 36

– OTHER INFORMATION

PART II. – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 37

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 37

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 38 SIGNATURE 40 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, 2024 February 29, 2024 (Unaudited) ASSETS Cash and cash equivalents $ 523,753 $ 129,977 Accounts receivable 16,411 12,518 Flight equipment held for lease, net 6,858,065 6,940,502 Net investment in leases, net 258,639 282,439 Unconsolidated equity method investment 44,447 42,710 Other assets 240,453 271,807 Total assets $ 7,941,768 $ 7,679,953 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES Borrowings from secured financings, net $ 650,739 $ 875,397 Borrowings from unsecured financings, net 3,827,359 3,823,099 Accounts payable, accrued expenses and other liabilities 260,456 219,588 Lease rentals received in advance 62,006 52,654 Security deposits 71,879 69,544 Maintenance payments 583,220 505,897 Total liabilities 5,455,659 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 November 30, 2024 and February 29, 2024 — — Common shares, $ 0.01 par value, 250,000,000 shares authorized, 17,840 and 15,564 shares issued and outstanding at November 30, 2024 and February 29, 2024, respectively — — Additional paid-in capital 2,378,774 2,078,774 Retained earnings 107,335 55,000 Total shareholders' equity 2,486,109 2,133,774 Total liabilities and shareholders' equity $ 7,941,768 $ 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 November 30, Nine Months Ended November 30, 2024 2023 2024 2023 Revenues: Lease rental revenue $ 158,440 $ 156,820 $ 483,389 $ 453,906 Direct financing and sales-type lease r

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