Aircastle reports USD27.4m net profit in 3Q2016, revenue down 8%

Aircastle revenue down 8% - financial highlights for three months ended 30-Sep-2016:

• Total revenue: USD194.7 million, -8.2% year-on-year;
• • Lease rental: USD182.0 million, -3.2%;
  • Finance lease: USD5.4 million, +186.6%;
  • Maintenance: USD6.8 million, -56.6%;
• Total costs: USD166.3 million, -30.9%;
• Net profit (loss): USD27.4 million, compared to a loss of USD14.0 million in p-c-p;
• Total assets: USD7183 million;
• Cash and cash equivalents: USD656.2 million;
• Total liabilities: USD5397.7 million. [more - original PR]

Aircastle: "We are working to drive our net cash interest margins higher as older and more expensive debt rolls off and gets replaced by flexible and attractively priced new financings and as we deploy our strong cash balances. Similarly, we expect our portfolio management efforts to enhance the strength and duration of our revenue yields," Ron Wainshal, CEO. Source: Company statement, 01-Nov-2016.