Aircastle Ltd. (AYR), a company that engages in the acquisition, lease, and sale of high-utility commercial jet aircraft, Friday reported a surge in profit for the third quarter on higher revenues.
The Stamford, Connecticut-based company's net income for the third quarter rose to $33.46 million or $0.42 per share from $23.57 million or $0.30 per share in the previous year.
Adjusted net income plus depreciation and amortization was $91.21 million or $1.17 per share, compared to $84.24 million or $1.08 per share a year ago.
Revenues for the quarter rose to $165.74 million from $144.45 million last year. The increase was driven by higher maintenance revenue of $25.9 million and $9.4 million of lease termination revenue over the same period a year ago.
Total lease rentals increased to $155.67 million from $143.79 million a year ago. Maintenance revenue increased to $31.37 million from $5.43 million last year. Other revenue rose to $9.52 million from $34 thousand in the previous year.
Total expenses for the quarter were $130.28 million, compared to $118.66 million a year ago.
For the nine-month period, net income declined to $79.50 million or $1.00 per share from $90.55 million or $1.15 per share in the same period of the previous year. Total revenues for the period increased to $434.79 million from $424.80 million last year.
As of September 30, 2009, Aircastle owned 128 aircraft having a net book value of $3.8 billion.
AYR is currently trading at $8.91, up 0.08 or 0.91%, on a volume of 319K shares on the NYSE.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.