Aircastle reports first quarter 2022 results

During its first financial quarter, the three months ended May 31, 2022, Aircastle reports net income of $8 million and Adjusted EBITDA of $153 million. Cash flows from operations up 58% compared to first quarter 2021. During the quarter, Aircastle sold four aircraft and other flight equipment for proceeds of $58 million and a gain on sale of $4 million; purchased one new Embraer E2 aircraft leased to KLM Cityhopper with a further Embraer E2 aircraft purchased and delivered to the airline in June. Aircastle reported that customer collections for the first quarter represented 101% of lease rental and direct