Aircastle Announces Third Quarter 2025 Results (Form 8-K)

Aircastle Announces Third Quarter 2025 Results

Highlights for the Three Months Ended November 30, 2025

•Total revenues of $236 million and net income of $31 million

•22% increase in lease rental revenue compared to third quarter 2024

•Adjusted EBITDA(1) of $221 million

•Acquired 9 aircraft for $355 million; fiscal year-to-date aircraft acquisitions of $1.3 billion with a weighted average age of 4.1 years

•Year-to-date sales proceeds of $369 million

•New technology aircraft comprised 52% of our fleet's net book value as of November 30, 2025

•Entered into additional insurance settlements totaling $7 million

Liquidity

•Moody's upgrade to Baa2

•98% of total debt is unsecured as of November 30, 2025

•Adjusted net debt-to-equity of 2.2 times as of November 30, 2025

•Total liquidity of $2.6 billion as of October 1, 2025 which includes $1.8 billion of undrawn facilities, $0.7 billion of projected adjusted operating cash flows and sales through January 1, 2027, and $0.1 billion of unrestricted cash

•269 unencumbered aircraft and other flight equipment with a net book value of $8.5 billion

Mike Inglese, Aircastle's CEO, stated, "Aviation continues its long-term trajectory of growth and aircraft demand is high. While travel numbers continue to increase from 2024, airlines are managing costs amid challenging supply chains by leveraging aircraft leasing solutions. We're pleased to share that we completed our third fiscal quarter with net income of $31 million. Lease rental revenue increased 22% versus the third quarter of 2024, reflecting our global team's successful and profitable fleet growth in a very competitive market."

Mr. Inglese concluded, "For over twenty years, Aircastle has built a reputation as a valued trading partner due to our ability to execute quickly and efficiently. This is primarily due to our liquidity advantages, now further bolstered by recent ratings upgrades. With a proven track record and the shareholder support we receive from Marubeni Corporation and Mizuho Leasing, we look forward to closing out another successful fiscal year."

Aviation Assets

As of November 30, 2025, Aircastle owned 273 aircraft and other flight equipment having a net book value of $8.6 billion. We also manage 6 aircraft with a net book value of $205 million on behalf of our joint venture with Mizuho Leasing.

Owned Aircraft			As of November 30, 2025						As of November 30, 2024
Net Book Value of Flight Equipment (in millions)			$	8,583					$	7,117
Net Book Value of Unencumbered Flight Equipment (in millions)			$	8,465					$	6,064
Number of Aircraft			273						244
Number of Unencumbered Aircraft			269						213
Number of Lessees			73						75
Number of Countries			44						47
Weighted Average Age (years)(1)			8.6						9.7
Weighted Average Remaining Lease Term (years)(1)			5.5						5.2
Weighted Average Fleet Utilization during the three months ended November 30, 2025 and 2024(2)			99.2		%				99.2		%
Managed Aircraft on behalf of Joint Ventures
Net Book Value of Flight Equipment			$	205					$	262
Number of Aircraft			6						9

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1.Weighted by Net Book Value.

2.Aircraft on-lease days as a percentage of total days in period weighted by Net Book Value.

Conference Call

Following this press release, management will host a conference call on Tuesday, January 13, 2026, at 9:00 A.M. Eastern Time. All interested parties are welcome to participate in the live call. The conference call can be accessed by dialing 1 (800) 836-8184 (from within the U.S. and Canada) or +1 (646) 357-8785 (outside the U.S. and Canada) ten minutes prior to the scheduled start. Please reference our company name "Aircastle" when prompted by the operator.

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.aircastle.com. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast.

For those who are not available to listen to the live call, a replay will be available on Aircastle's website shortly after the live call.

About Aircastle Limited

Aircastle Limited acquires, leases and sells commercial jet aircraft to airlines throughout the world. As of November 30, 2025, Aircastle owned and managed on behalf of its joint ventures 279 aircraft leased to 73 airline customers located in 44 countries.