Aircastle amends shareholder agreement

Aircastle has increased the amount of stock that Marubeni can purchase without triggering a change of control. Marubeni can now purchase up to 35% (from 30% previously) of the outstanding shares. This is the second time this year Marubeni raised the cap on the shareholder agreement. In addition to Marubeni’s ownership, Ontario Teachers’ Pension Plan holds 10% of Aircastle’s outstanding shares. Cowen & Co announced in a recent report that it expects Marubeni to increase its ownership of Aircastle “as long as shares remain below book value”, adding that the “relationship opened additional business relationships for Aircastle as Marubeni helped