Last $17.58 USD
Change Today -0.01 / -0.06%
Volume 403.7K
AYR On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 07/9/14 All times are local (Market data is delayed by at least 15 minutes).

aircastle ltd (AYR) Snapshot

Open
$17.59
Previous Close
$17.59
Day High
$17.66
Day Low
$17.49
52 Week High
02/25/14 - $21.35
52 Week Low
08/28/13 - $16.01
Market Cap
1.4B
Average Volume 10 Days
441.6K
EPS TTM
$0.96
Shares Outstanding
81.0M
EX-Date
05/28/14
P/E TM
18.3x
Dividend
$0.80
Dividend Yield
4.35%
Current Stock Chart for AIRCASTLE LTD (AYR)

aircastle ltd (AYR) Related Businessweek News

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aircastle ltd (AYR) Details

Aircastle Limited acquires, leases, and sells commercial jet aircraft to airlines worldwide. The company also makes investments in various aviation assets, including debt investments secured by commercial jet aircraft. As of December 31, 2013, its aircraft portfolio comprised 162 aircraft that were leased to 64 customers located in 37 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.

96 Employees
Last Reported Date: 02/26/14
Founded in 2004

aircastle ltd (AYR) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: $1.2M
Chief Financial Officer
Total Annual Compensation: $1.0M
Chief Operating Officer, General Counsel and ...
Total Annual Compensation: $1.0M
Chief Commercial Officer
Total Annual Compensation: $876.8K
Chief Accounting Officer
Total Annual Compensation: $434.0K
Compensation as of Fiscal Year 2013.

aircastle ltd (AYR) Key Developments

Aircastle Limited Announces Board Changes

Aircastle Limited announced the appointment of Michael J. Cave and Masumi Kakinoki to the company's Board of Directors, increasing the Board to twelve members. Until his recent retirement, Michael Cave served as a Senior Vice President of The Boeing Company and President of Boeing Capital Corp. Mr. Kakinoki is currently the President and CEO of Marubeni America Corporation.

Aircastle LTD Presents at RBC Capital Markets Aerospace & Defense Investor Day, May-15-2014 09:20 AM

Aircastle LTD Presents at RBC Capital Markets Aerospace & Defense Investor Day, May-15-2014 09:20 AM. Venue: New York, New York, United States. Speakers: Michael J. Inglese, Chief Financial Officer.

Aircastle Seeks Acquisitions

Aircastle LTD (NYSE:AYR) seeks acquisitions. "In the bank market, we've successfully expanded our revolver three times to one that is currently $450 million in size to the four-year term which [currently] is one year later than our nearest bond maturity. This bank facility is supported by nine international banks and we'll give us of the flexibility when it comes to funding acquisitions. We've also been very active in the secured bank market raising over $700 million in nine separate secured bank financings. I think that the key take away from this is that we have very good access to both markets and we'll continue to focus on a very integrated acquisition and growth strategy going forward. On the next page, I just wanted to quickly give you a brief pictorial of how we've transformed our debt structure. So from almost 100% secured debt, we moved the capital structure to roughly 40% secured, the balance being unsecured. We also made great strides in building our unencumbered asset base and we're constantly trying to maintain a balance between secured amortizing debt and unsecured bullets which is important. And then the importance is the critical factors trying to maintain the balance and figuring out what the tradeoff is between lower cost, secured debt and the flexibility that comes from unsecured debt. So I think, ultimately, the decision is really driven by what we are buying and reinforcing our integration of acquisition and growth capital strategies. Finally, my colleague mentioned the OTPP joint ventured that we entered into. This JV was formed really as a compliment to acquisition strategy. It's good -- it has a target of a billion dollars in size in high return aircraft assets. Equity is good between us and Teachers' so we put in 30% of the equity, Teachers' will put in 70%, it's to be funded with non-recourse debt and we will be servicing the portfolio. We just closed our -- recently closed our first few investments into that joint venture which consists of two brand new A330s and long-term lease for Garuda. Garuda is Indonesia's national airline. I think the rationale for this JV is that given some additional firepower and shaping large ticket transactions. It helps us with concentration risk and really helps us to be partners with sophisticated long-term minded investor. The takeaways is the JV is really additive to equity and strategy and first and foremost, acquisitions will always be focused at the aircraft's level but obviously the JV gives us an additional arrow in our quiver," said Roy Chandran, Aircastle Limited - Executive Vice President - Capital Markets.

 

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Industry Analysis

AYR

Industry Average

Valuation AYR Industry Range
Price/Earnings 100.0x
Price/Sales 1.9x
Price/Book 0.9x
Price/Cash Flow 114.0x
TEV/Sales NM Not Meaningful
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