Aircastle releases Q2 2019 financial results

Darren Wood
By Darren Wood August 9, 2019 10:17

Aircastle releases Q2 2019 financial results

Aircraft-leasing firm Aircastle has reported a rise in revenues for its second quarter of 2019.

In the second quarter, Aircastle’s revenues increased 9% year over year, to about $223 million.

However, its profits dropped by nearly 40%, to about $31 million – which the firm has said is down to a lack of aircraft sales in the past quarter and higher depreciation; as well as interest expenses.

The firm’s adjusted EBITDA stood at $210.9 million.

During the quarter, Aircastle transitioned 17 aircraft from Avianca Brazil and Jet Airways with a lease signed for last remaining A320 aircraft.

It also acquired 10 narrow-body aircraft for $325 million, committing to acquire 16 additional narrow-body aircraft for $404 million.

Aircastle raised $1.13 billion of secured and unsecured debt at an average fixed rate of 3.91%.

Darren Wood
By Darren Wood August 9, 2019 10:17