Aircastle reviews alternatives, including sale of company

Board of directors of Aircastle Limited (NYSE: AYR) has announced it is evaluating strategic alternatives, which may include a sale of the company, Aircastle said.

Aircastle has received preliminary non-binding expressions of interest from multiple third parties regarding a potential transaction involving the Company and is engaged in preliminary discussions relating thereto.

There can be no assurance that this process will result in a transaction or, if a transaction is undertaken, its terms or timing.

The Company has retained Citigroup Global Markets Inc. as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its legal advisor to assist in this ongoing review. The Company does not intend to disclose developments or provide updates on the progress or status of this process unless it deems further disclosure is appropriate or required by law.

Aircastle Limited acquires, leases and sells commercial jet aircraft to airlines throughout the world. As of June 30, 2019, Aircastle owned and managed on behalf of its joint ventures 283 aircraft leased to 89 customers located in 47 countries.