Exhibit 99.1

 

LOGO

 

FOR IMMEDIATE RELEASE   
Contact:   
Aircastle Advisor LLC    The IGB Group
Frank Constantinople, SVP Investor Relations    Leon Berman
Tel: +1-203-504-1063    Tel: +1-212-477-8438
fconstantinople@aircastle.com    lberman@igbir.com

Aircastle Announces First Quarter 2017 Results

Total Revenues increased 11% and Net Income rose 17%

Declared Second Quarter 2017 Dividend of $0.26 per Common Share

Key Financial Metrics

 

    Total revenues were $204.3 million

 

    Total lease rental and finance and sales-type lease revenues were $194.7 million

 

    Net income was $42.4 million, or $0.54 per diluted common share

 

    Adjusted net income was $45.7 million, or $0.58 per diluted common share

 

    Adjusted EBITDA was $193.4 million

 

    Cash ROE was 12.0%; net cash interest margin was 8.7%

First Quarter 2017 Highlights

 

    Issued $500 million of new seven year, senior unsecured notes at a record low coupon of 4.125%

 

    Closed or committed to acquire eighteen aircraft this year for more than $400 million

 

    Declared our 44th consecutive quarterly dividend

Stamford, CT. May 4, 2017 – Aircastle Limited (the “Company” or “Aircastle”) (NYSE: AYR) reported first quarter 2017 net income of $42.4 million, or $0.54 per diluted common share and adjusted net income of $45.7 million, or $0.58 per diluted common share. The first quarter results included total lease rental and finance and sales-type lease revenues of $194.7 million, an increase of 6.3%, versus $183.1 million in the first quarter of 2016.

Commenting on the results, Mike Inglese, Aircastle’s Chief Financial Officer and Acting CEO, stated “Amid a strong aircraft financing environment, Aircastle has continued to benefit from our strategic flexibility, solid balance sheet, and our opportunistic investment strategy. We have remained disciplined in the pursuit of acquisitions and are determined to act only where opportunities have appealing risk and return profiles. With our unique ability to provide value-added solutions to customers, we successfully closed $190 million of aircraft acquisitions during the first quarter and secured commitments to close a further $220 million. We also seized the opportunity to sell or commit to sell several additional aircraft on appealing terms, continuing our progress in optimizing the fleet mix. A number of these aircraft sales are expected to close in the second quarter.”

 

Note:   Non-GAAP items reconciled in the Appendix.

 

1


The following information was filed by Aircastle Ltd (AYR) on Thursday, May 4, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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