Aircastle Limited Reports 17.6% Revenue Growth and 118.5% Increase in Net Income for Nine Months Ended November 30, 2025

Aircastle Limited reported significant financial performance improvements in its latest 10-Q filing for the quarter ending November 30, 2025. The company achieved total revenues of $723.8 million for the nine months ended November 30, 2025, marking a 17.6% increase from $615.4 million in the same period the previous year. Net income also saw a substantial rise, reaching $137.2 million compared to $62.8 million in the prior year, reflecting a 118.5% increase. The growth in revenue was primarily driven by a $82.3 million increase in lease rental revenue, attributed to the acquisition of 81 aircraft since March 1, 2024.

In terms of operational metrics, Aircastle's fleet consisted of 279 aircraft leased to 73 airline customers across 44 countries, with a net book value of $8.6 billion as of November 30, 2025. The weighted average age of the fleet was reported at 8.6 years, with a utilization rate exceeding 99% for the nine-month period. The company also made strategic moves by purchasing 32 aircraft for $1.3 billion during the nine months, while selling 20 aircraft and other flight equipment for net proceeds of $368.8 million.

The financial results also highlighted increased operating expenses, which rose to $630.4 million from $544.3 million year-over-year, largely due to higher depreciation and interest expenses. Depreciation increased by $24 million, reflecting the addition of new aircraft, while interest expenses rose by $25.2 million due to a higher average debt outstanding. Additionally, the company recorded impairment charges of $51.9 million, primarily related to aircraft leased to customers that filed for bankruptcy protection.

Aircastle's liquidity position remains strong, with total liquidity of $2.6 billion as of January 1, 2026, which includes $1.8 billion in undrawn credit facilities and $0.1 billion in unrestricted cash. The company is well-positioned to meet its contractual obligations over the next twelve months, supported by cash flows from operations and proceeds from asset sales. Looking ahead, Aircastle anticipates continued demand for its aircraft leasing services, driven by the recovery in global air travel and ongoing supply chain disruptions affecting aircraft manufacturers.