AeroCentury posts $10.2 million loss

AeroCentury today reported a first quarter 2020 net loss of $10.2 million, compared to a net loss of $1.3 million, for the same period 2019. Results for the quarter ended March 31, 2020 included impairment losses totalling $6.7 million, arising from revised estimated sales proceeds for three regional jet aircraft and an older turboprop aircraft that is being sold in parts.  Results also included a $1.2 million bad debt allowance related to two of the Company’s aircraft that are subject to finance leases and a $1.9 million non-cash charge related to the Company’s interest rate swaps, which is included in interest