Aircastle reports 1Q results
Aircastle has reported 1Q net income of $18.9m and adjusted net income of $20.6m.
First quarter total revenues were $130.6m, a decrease of $1.6m from the 1Q 2009, and the company says this reflects the higher lease rental revenue of $4.1m offset by lower end of lease maintenance revenue of $1.3m and higher non-cash lease incentive amortisation of $3.7m. Lease rental revenue for the 1Q 2010 was $130.1m, up 3.3 per cent year-over-year and includes increases of $3.8m from aircraft transitions, mainly from aircraft that were out of service during first quarter of 2009, and $3.8m of revenue from 2009 aircraft acquisitions net of dispositions.
