AIRCASTLE SELLS AIRCRAFT TO AIR LEASE CORP

Dino D'Amore
By Dino D'Amore July 8, 2011 16:41

AIRCASTLE SELLS AIRCRAFT TO AIR LEASE CORP

On June 24 Aircastle completed the sale of a 2009 Airbus A330-200 (with a lease attached through to 2017 to Colombia’s Avianca Airlines) to Air Lease. Aircastle paid $83M-$85M for this A330 back in May 2009; after two years of depreciation we estimate the book value of the plane would be around $77M-$79M. In our view, this sale could result in a book gain for AYR of perhaps $5M, or $0.06 of EPS.

Dino D'Amore
By Dino D'Amore July 8, 2011 16:41
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