Aircastle FY 2015 revenues flat

Aircastle Limited total revenues in 2015 were USD819.2 million, essentially flat with the previous year, the company said.

Lease rental revenues increased USD18.8 million versus the previous year, reflecting the growth in flight equipment. However, this increase was largely offset by a USD17.0 million reduction in maintenance revenues caused by a lower number of aircraft coming off lease in 2015 compared to the previous year.

Adjusted EBITDA for the full year was USD832.1 million, up USD39.8 million versus 2014, primarily reflecting USD34.9 million more in gains from the sale of flight equipment and a USD6.5 million increase in other revenues which included termination fees associated with the disposal of freighter aircraft during 2015.

Adjusted net income for the full year was USD142.3 million compared to USD167.6 million in 2014, a decrease of USD25.4 million. Adjusted net income in 2014 excluded a USD36.6 million charge associated with the early repayment of 9.75 percent debt, which was refinanced at a substantially lower coupon.

Aircastle Limited acquires, leases and sells commercial jet aircraft to airlines throughout the world. As of December 31, 2015, Aircastle´s aircraft portfolio consisted of 162 aircraft on lease with 53 customers located in 34 countries.