Aircastle Limited reported significant financial growth in its latest 10-K filing for the fiscal year ending February 28, 2026. The company achieved total revenues of $975.1 million, a 19% increase from $821.0 million in the previous fiscal year. Net income also rose to $194.0 million, up from $123.6 million, while Adjusted EBITDA increased to $945.1 million from $789.9 million. This performance was attributed to strong global passenger demand for air travel, particularly for narrow-body aircraft, and favorable market conditions that included elevated lease extension activity and gains from aircraft sales.
The company’s operational metrics showed a robust fleet management strategy, with 282 aircraft leased to 76 customers across 45 countries. The net book value of the fleet increased by 8% to $8.5 billion, reflecting ongoing investments in aircraft acquisitions. During the fiscal year, Aircastle acquired 46 aircraft for $1.7 billion and sold 33 aircraft, generating net proceeds of $729.5 million. The weighted average age of the fleet was reported at 9.0 years, with a high utilization rate of 99%.
Strategically, Aircastle has committed to acquiring an additional 17 aircraft for $829.5 million, with deliveries scheduled through November 2028. The company has also been proactive in managing its aircraft portfolio, with a focus on maintaining a diversified fleet to mitigate risks associated with lessee defaults and market fluctuations. As of April 1, 2026, Aircastle reported total liquidity of approximately $2.6 billion, which includes $2.0 billion in undrawn credit facilities, indicating a strong position to meet its financial obligations.
The filing also highlighted potential risks, particularly related to geopolitical tensions in the Middle East, which could impact commercial aviation activities. However, Aircastle's exposure to the region is limited, with only 5% of its net book value and lease rental revenue derived from Middle Eastern customers. The company continues to monitor these developments closely, emphasizing its commitment to maintaining a conservative capital structure and leveraging its extensive industry experience to navigate potential challenges.
Looking ahead, Aircastle remains optimistic about its growth trajectory, supported by a favorable market environment for aircraft leasing and a strategic focus on modern, fuel-efficient aircraft. The company’s management believes that its diversified portfolio and strong financial position will enable it to capitalize on emerging opportunities in the aviation sector, despite the uncertainties posed by global economic conditions.
About Aircastle LTD
Aircastle Limited is a Bermuda-based aircraft leasing company that acquires, leases, and sells commercial jet aircraft globally. It manages a diversified portfolio of modern, mid-life, and new technology aircraft leased to airlines in numerous countries. The company generates revenue through lease payments, aircraft sales, and related services, leveraging extensive industry relationships, disciplined investment strategies, and a strong capital structure to capitalize on growth in the global aviation market.
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