Aircastle sees huge market potential as financial sector continues to recover
Shares in leasing companies made minimal movement in trading on Wednesday. Avation PLC shares were up 1.4%, while Aircastle stock rose 0.6%. ALAFCO shares fell 1.4%, as Middle East markets remain fragile in the face of continuing social and political unrest in the region.
- Fleet utilisation:
- Expected 1Q2011 revenue utilisation of at least 98% and rental yield of around 14%;
- Lease placement and aircraft sales.
- 2011 leasing:
- 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.
Selected Lessors' daily share price movements (% change): 24-Mar-2011