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Aircastle looks at used aircraft market, to take delivery of four more A330s

1-Jul-2011 1:55 PM

Aircastle CEO Ron Wainshal stated the company is less focussed on acquiring new aircraft and sees opportunities in the market for aircraft three to five years old, with less competition in the segment and “really good demand” (Aviation Exchange, 29-Jun-2011). Aircastle has taken delivery of three new A330s this year and expects two more aircraft in 3Q2011 and two in 4Q2011. Financing was acquired through two USD73 million 12-year term loans fixed rates from Sumitomo Mitsui Banking Corp. New aircraft deliveries will be financed “in a similar fashion”. Aircastle plans another USD500 million to USD1 billion in acquisitions to the end of 2011, partially financed via offerings in unsecured bond markets. Aircastle made its first unsecured bond market offering in Aug-2010.