Aircastle full year results

Aircastle reported fourth quarter 2012 net income of $29.8 million – a drop of 16.3% compared to the same period last year. The change reflects higher net revenues of $19.7 million that was offset by higher aircraft impairment charges of $7.7 million, lower gains from the sale of aircraft of $7.4 million, higher depreciation of $6.1 million, higher selling, general and administrative costs of $2.1 million, and higher adjusted interest expense of $1.9 million. The fourth quarter results included total revenues of $176.6 million, an increase of 13%, versus $156.9 million in the fourth quarter of 2011. Full year net