Aircastle reports USD36m net profit in 1Q2016

Aircastle revenue down 6% - financial highlights for three months ended 31-Mar-2016:

• Total revenue: USD183.7 million, -5.5% year-on-year;
• • Lease rental: USD179.6 million, +1.4%;
  • Finance and sales-type lease: USD3.5 million, +118%;
  • Maintenance revenue: USD1.3 million, -93.0%;
• Net profit: USD36.3 million, -16.2%;
• Total assets: USD6703 million;
• Cash and cash equivalents: USD594.4 million;
• Total liabilities: USD4932 million. [more - original PR]

Aircastle: "At the same time, Aircastle continued to deliver strong financial and operational results, with solid earnings and cash ROE during the first quarter. Fleet utilization during the period was nearly 100% and we continued to make progress on de-risking the business and improving our portfolio. Finally, we're realizing tangible benefits from our strong relationship with our largest shareholder, Marubeni, both in the financial markets and through a new leasing joint venture," Ron Wainshal, CEO. Source: Company statement, 04-May-2016.