Aircastle revenue up 21% in 1Q2011

Aircastle revenue up 21% - financial highlights for the three months ended 31-Mar-2011:

• Revenue: USD157.9 million, +21.0% year-on-year;
  • Lease rental: USD141.1 million, +8.4%;
• Total costs: USD121.3 million, +11.3%;
• EBITDA: USD154.3 million, +27.3%;
• Net profit: USD42.7 million, +126.1%;
• Total assets: USD4883 million, +0.5% when compared to period ended 31-Dec-2010;
• Cash and cash equivalents: USD240.3 million, +0.1% when compared to period ended 31-Dec-2010;
• Total liabilities: USD3496 million, -0.6% when compared to period ended 31-Dec-2010. [more]

Aircastle: "We also made progress expanding our asset base to further enhance our future earnings prospects. Our new Airbus A330 deliveries are coming on line as planned and, so far this year, we acquired or signed letters of intent to acquire five additional aircraft, three of which are Boeing 747-400s which we intend to convert into freighter configuration. At the same time, we are continuing to pursue asset sales selectively to take advantage of the market recovery and support our long-term goal of generating strong risk adjusted returns," Ron Wainshal, CEO. Source: Aircastle, 04-May-2011.