Aircastle Ltd. (AYR) said Thursday that its Board of Directors has authorized the repurchase of up to $50 million of the company's common shares.
Under the program, the company may purchase its common shares from time to time in the open market or in privately negotiated transactions. The amount and timing of the purchases will depend on a number of factors including the price and availability of the company's common shares, trading volume and general market conditions. The Company may also from time to time establish a trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934 to facilitate purchases of its common shares under this authorization.
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