Aircastle sees huge market potential as financial sector continues to recover

Aircastle provided the following business updates at the JP Morgan Aviation, Transportation and Defence Conference

• Fleet utilisation:
  • Expected 1Q2011 revenue utilisation of at least 98% and rental yield of around 14%;
  • Lease placement and aircraft sales.
• 2011 leasing:
  • 9 of 11 scheduled lease expirations placed/contracted for sale;
  • Five aircraft leases early terminated in1Q2011, one A319 in Jordan and four A320s in Egypt.
• 2012 leasing:
  
  • Signed lease with Virgin Blue for one new A330-200 delivering in spring 2012 leasing;
  • 24 aircraft with scheduled lease expiries;
  • Making progress on 2012 lease roll-off.
• Aircraft sales:
  • Four B737-400SF sales sold in 1Q2011, expected to result in pre-tax income of USD9.5million;
  • Two additional contracted sales in 2011;
    • One 737-500 in 2Q2011;
    • One 757-200 in 4Q2011.
• Aircraft deliveries:
  • Eight A330s to be delivered during 2011 and H1 2012. Signed long-term leases for all aircraft;
  • Bank commitments in place to finance all 2011 deliveries based on Export Credit Agency support.

See story: Aircastle bullish on aircraft values; sees 'life yet in current narrowbodies'

Selected Lessors' daily share price movements (% change): 24-Mar-2011