Aircastle Limited reported its financial results for the fiscal year ending February 28, 2025, revealing total revenues of $821.0 million, a decrease of 4% from $855.4 million in the previous fiscal year. The company achieved a net income of $123.6 million, significantly higher than the $83.3 million reported for the year ending February 29, 2024. Adjusted EBITDA also increased to $789.9 million from $759.5 million, reflecting strong operational performance despite a decline in total revenues. The financial results were positively influenced by high global passenger demand for air travel and increased demand for aircraft due to ongoing supply chain constraints and Original Equipment Manufacturer (OEM) delivery delays.
In terms of operational metrics, Aircastle owned and managed a fleet of 273 aircraft leased to 77 lessees across 47 countries, with a net book value of $7.9 billion, up 9% from $7.2 billion the previous year. The weighted average age of the fleet was 9.1 years, with a utilization rate of 99% for the year. The company acquired 50 aircraft for $1.6 billion during the fiscal year and sold 27 aircraft and other flight equipment for net proceeds of $565.9 million, recognizing gains of $77.2 million on these sales. As of April 16, 2025, Aircastle had commitments to purchase an additional 26 aircraft for $1.4 billion.
Strategically, Aircastle has focused on diversifying its portfolio, with 45% of its owned aircraft being new technology narrow-body models. The company has also been proactive in managing its aircraft lifecycle, including lease extensions and sales, which have contributed to its financial performance. The company received $49.5 million in cash settlement proceeds related to insurance claims for aircraft previously leased to Russian airlines, which further bolstered its financial results.
Looking ahead, Aircastle expressed confidence in its liquidity position, reporting total liquidity of $2.7 billion as of April 1, 2025, which includes $2.1 billion of undrawn credit facilities. The company anticipates that the global aviation market will continue to expand, driven by economic growth and increasing air travel demand. Aircastle's management believes that its conservative leverage and diversified aircraft portfolio will enable it to capitalize on future investment opportunities while maintaining financial stability.
About Aircastle LTD
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