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Last $22.54 USD
Change Today -0.13 / -0.57%
Volume 342.8K
AYR On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 6:40 PM 07/1/15 All times are local (Market data is delayed by at least 15 minutes).

aircastle ltd (AYR) Key Developments

Pratt & Whitney Signs Agreement with Aircastle to Support Embraer E-Jet E2s

Pratt & Whitney and Aircastle Limited have signed a Memorandum of Understanding for an Engine support agreement supporting off-wing maintenance for up to 25 Embraer E-Jet E2s, powered by PurePower engines. The PurePower PW1900G engine is the sole source powerplant on the E190-E2 and the E195-E2 jets. Deliveries are planned to begin in 2018. The PurePower engine family has completed 19,000 hours and 34,000 cycles of full engine testing, including 5,000 hours of flight time.

Aircastle Limited Announces Extension of $600 Million Revolving Credit Facility to May 2019

Aircastle Limited announced that it extended the maturity of its existing unsecured revolving credit facility with Citibank, N.A., Goldman Sachs Bank USA, J.P. Morgan Chase Bank, N.A. and Royal Bank of Canada, as joint lead arrangers; Citibank, N.A., as agent; and Citibank, N.A., Goldman Sachs Bank USA, J.P. Morgan Chase Bank, N.A., Royal Bank of Canada, Credit Agricole Corporate & Investment Bank, DBS Bank Ltd., Los Angeles Agency, MUFG Union Bank, N.A., BNP Paribas and Deutsche Bank AG New York Branch, as lenders. The facility, which will be used for working capital, including the acquisition of aircraft, is for $600 million, and will now expire on May 13, 2019.

Aircastle Limited Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year of 2015

Aircastle Limited announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net income of $43,369,000 or $0.53 per diluted common share against $5,777,000 or $0.07 per diluted share a year ago. Total revenue was $194.3 million, an increase of 10%, versus $176.6 million in the first quarter of 2014. Adjusted EBITDA was $190,214,000 against $170,013,000 a year ago, due primarily to higher maintenance revenues of $15.0 million and higher gains from aircraft sales of $5.1 million. Adjusted net income was $50,457,000 against $13,260,000 a year ago. Adjusted net income per diluted share was $0.62 against $0.16 a year ago. The increase was due primarily to higher total revenues of $17.7 million and lower non-cash aircraft impairment charges of $18.3 million. Income from continuing operations before income taxes was $46,691,000 against $6,210,000 a year ago. Net cash provided by operating activities was $132,928,000 against $102,991,000 a year ago. EBITDA was $188,933,000 against $151,441,000 a year ago. Acquisition and improvement of flight equipment and lease incentives was $264,271,000 against $663,038,000 a year ago. Aircraft purchase deposits and progress payments were $1,250,000. Cash ROE was 13.5%. The company provided earnings guidance for the full year of 2015. For the quarter, the company reported lease rental revenue of $180 million to $184 million, amortization of net lease discounts and lease incentives is to be in the range between from $4 million to $5 million, depreciation is to be in the range between from $78 million to $80 million, net interest is to be in the range between from $62 million to $64 million and full year tax rate is to be in the range between from 11% to 12%.

Aircastle Limited Declares Cash Dividend for the Second Quarter of 2015, Payable on June 15, 2015

On May 4, 2015, Aircastle Limited's Board of Directors declared a second quarter 2015 cash dividend on its common shares of $0.22 per share, payable on June 15, 2015 to shareholders of record on May 29, 2015.

Aircastle LTD to Report Q1, 2015 Results on May 06, 2015

Aircastle LTD announced that they will report Q1, 2015 results at 10:00 AM, US Eastern Standard Time on May 06, 2015

 

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Industry Analysis

AYR

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Valuation AYR Industry Range
Price/Earnings 13.3x
Price/Sales 2.2x
Price/Book 1.0x
Price/Cash Flow 13.3x
TEV/Sales NM Not Meaningful
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