Aircastle acquired 60 aircraft, sold 30 in 2016

Aircastle acquired (14-Feb-2017) 60 aircraft and sold 30 during 2016:

• The 60 aircraft were acquired for USD1.6 billion, including 28 aircraft for USD635.8 million during 4Q2016. The average age of  aircraft acquired was 7.4 years, with an average remaining term of approximately 5.4 years. Of the 60 aircraft, 57 aircraft were narrowbody types;
• The 30 aircraft were sold for net proceeds of USD755.9 million, realising a gain on the sale of USD39.1 million. The average age of the aircraft sold during 2016, excluding sales to Aircastle's JV, was 15 years. During 4Q2016, Aircastle completed the sale of 11 aircraft, including two widebodies and one freighter. Full year sales included seven widebodies and three freighters. Portfolio sales reduced the lessor's freighter exposure to eight aircraft, accounting for 8% of the lessors total fleet net book value. [more - original PR]