Aircastle pleased with 2016 results

Aircastle revenue down 2% – financial highlights:

• Three months ended 31-Dec-2016:
• • Total revenue: USD204.7 million, -1.7% year-on-year;
  • • Total lease revenue: USD199.8 million, -0.7%;
    • • Lease rental: USD187.6 million, +2.3%;
      • Finance and sales-type lease: USD4.2 million, +80.6%;
      • Maintenance revenue: USD13.0 million, -18.3%;
  • Net profit: USD67.7 million, +33.7%;
• 12 months ended 31-Dec-2016:
• • Total revenue: USD773.0 million, -5.6%;
  • • Total lease revenue: USD765.6 million, -4.5%;
    • • Lease rental: USD725.2 million, -1.1%;
      • Finance and sales type lease: USD17.2 million, +125%;
      • Maintenance revenue: USD33.6 million, -52.7%;
  • Net profit: USD151.5 million, +24.4%;
  • Total assets: USD7245 million;
  • Cash and cash equivalents: USD455.6 million;
  • Total liabilities: USD5410 million. [more - original PR]

Aircastle: "We enter 2017 in a strong position with a lot of flexibility. We have significantly transformed our portfolio to focus on narrowbody aircraft, continued to successfully place aircraft and have limited capital commitments. Our success raising $1.3 billion in financing during 2016 has also provided Aircastle with significant liquidity to continue to grow the Company and opportunistically provide value-added solutions to potential sellers of aircraft,” Mike Inglese, Acting CEO. Source: Company statement, 14-Feb-2017.