Aircastle LTD (AYR) Form 10-Q — Oct 14, 2026
Aircastle reported strong Q2 fiscal 2026 results, with net income of $69.3 million, up 21% from $57.3 million a year earlier, on total revenues of $283.0 million versus $227.5 million. Six-month net income was $102.9 million on revenues of $518.5 million, with Adjusted EBITDA of $455.6 million and operating cash flow of $238.3 million. Results were driven by strong aircraft sale gains ($38.2 million in the quarter), elevated maintenance revenue from lease expirations and early terminations, and continued demand for its narrow-body fleet despite supply constraints at manufacturers.
Key figures
- Eps
- 0
- Revenue
- 518483000
- Net Income
- 102946000
- Total Debt
- 5508812000
- Revenue Yoy
- 6.4% (six months: $518.5M vs $487.4M); Q2 revenue up 24.4% to $283.0M from $227.5M
- Total Assets
- 8832141000
- Cash Position
- 173080000
- Lessees
- 67
- Countries
- 42
- Q2 net income
- 69328000
- Aircraft owned
- 263
- New term loans
- $375.0M May 2026 Term Loan (SOFR+1.30%, due May 2031); $400.0M October 2026 Term Loans (JBIC $240M, commercial lenders $160M, due Oct 2031); $650M 5.000% Senior Notes due 2031
- Q2 portfolio yield
- 9.3%
- Fleet net book value
- 8300000000
- Q2 fleet utilization
- 97.4%
- Q2 impairment charges
- 7730000
- Q2 net income prior year
- 57233000
- Gains on sales six months
- 49028000
- Undrawn credit facilities
- 2000000000
- Adjusted ebitda six months
- 455600000
- Aircraft owned and managed
- 268
- Total liquidity oct 1 2026
- 2800000000
- Preference share redemption
- 405400000
- Aircraft purchase commitments
- 904300000
- Effective tax rate six months
- 15.4%
- Operating cash flow six months
- 238294000
- Weighted average fleet age years
- 9
- Weighted avg remaining lease term years
- 5.3
AI analysis
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