Aircastle profit slump in 2Q2010; Boeing assesses B787 issues

Aircastle shares fell 4.8% yesterday, coinciding with the release of the company's second quarter and first half financial results to Jun-2010. The leasing company reported a 34% year-on-year reduction in net profit in 2Q2010, to USD18 million (or USD0.23/share), with revenues decreasing 4.9% to USD130 million and cost increasing 0.3%%. The result fell short of analyst expectations of USD0.25/share in the quarter. Meanwhile, the company's operating margin fell from 20.5% to 16.2% in the quarter, as costs rose slightly on higher depreciation expenses.