Aircastle reports USD2m net profit in 2Q2016

Aircastle revenue down 7% - financial highlights:

• Three months ended 30-Jun-2016:
• • Total revenue: USD190.0 million, -7.1% year-on-year;
  • • Lease rental: USD176.1 million, -4.7%;
    • Finance and sales-type lease revenue: USD4.2 million, +122%;
    • Maintenance revenue: USD12.5 million, -41.4%;
  • Net profit: USD20.0 million, -52.1%;
• Six months ended 30-Jun-2016:
• • Total revenue: USD373.7 million, -6.3%;
  • • Lease rental: USD355.7 million, -1.7%;
    • Finance and sales-type lease revenue: USD7.7 million, +120%;
    • Maintenance revenue: USD13.8 million, -65.1%;
  • Net profit: USD56.3 million, -33.8%;
  • Total assets: USD6946 million;
  • Cash and cash equivalents: USD493.2 million;
  • Total liabilities: USD5169 million. [more - original PR]

Aircastle: "By limiting our long-term capital commitments, maintaining our financial flexibility and continuing to de-risk our portfolio, we are in a very strong position today. Aircastle is continuing to grow profitably, consistently originating investments with attractive returns despite the extremely low yield environment and competition for new business. We are also building on our track record of sharing profits with our shareholders by declaring our 41st consecutive quarterly dividend," Ron Wainshal, CEO. Source: Company statement, 04-Aug-2016.