11-Mar-2011 11:38 AM

AirCastle profits down in 2010

AirCastle revenue down 7.5% - financial highlights for the 12 months ended 31-Dec-2010:

  • Revenue: USD527.7 million, -7.5% year-on-year;
    • Lease rental: USD531.1 million, +3.8%;
    • Maintenance revenue: USD15.7 million, -73.3%;
  • Total costs: USD461.5 million, -0.3%;
  • Profit from continuing operations before tax: USD72.4 million, -34.9%;
  • Net profit: USD65.8 million, -35.8%;
  • Total assets: USD4859 million, +9.1%;
  • Total liabilities: USD3516 million, +11.2%;
  • Fleet:
    • Passenger aircraft: 111;
    • Freighter: 25;
  • Number of lessees: 64. [more]

AirCastle: “For our industry, 2010 was a watershed year during which demand for passenger and freight aircraft rose above pre-recession levels and growth rates returned to their long-term trajectory, buoyed by the strong performance of emerging markets. We are encouraged by continuing improvements across key industry metrics including rising traffic levels and all-time high load factors while the supply of parked current generation aircraft remains very low,” Ron Wainshal, CEO. Source: AirCastle, 10-Mar-2011.