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Aircastle reports double-digit profit declines in 1Q2013

3-May-2013 10:26 AM

Aircastle revenue up 7% - financial highlights for three months ended 31-Mar-2013:

  • Total revenue: USD176.2 million, +6.8% year-on-year;
    • Lease rental revenue: USD156.6 million, +2.9%;
  • Profit from continuing operations before tax: USD26.6 million, -25.05;
  • Net profit: USD23.1 million, -29.35;
  • Total assets: USD5756 million, -1.0% when compared to period ended 31-Dec-2012;
  • Cash and cash equivalents: USD693.3 million, +12.1% when compared to period ended 31-Dec-2012;
  • Total liabilities: USD4324 million, -1.6% when compared to period ended 31-Dec-2012. [more - original PR]

Aircastle: “Our aircraft purchase commitments for 2013 increased to more than USD450 million, and we are encouraged by the growth in our new investment pipeline. With nearly USD700 million in unrestricted cash and strong operating cash flow, Aircastle is in an excellent position to pursue accretive new purchase opportunities,” Ron Wainshal, CEO. Source: Company statement, 02-May-2013.