The Silicon Review
An aircraft operating firm permits airlines to use, operate, and maintain the aircraft. Nowadays, a lot of the aircraft that fly in the sky are leased, rather than owned. With the leasing business booming, Aircastle Limited is one such firm that acquires, leases, and sells commercial jet aircraft to airlines throughout the world. The company employs a balanced approach to investment and capitalization, factoring in industry cyclicality and other global and regional market dynamics. The firm mainly focuses on a long-term investment horizon.
Its business is managed by a team of aviation professionals with extensive industry experience. Through servicing offices in the United States, Ireland and Singapore, they provide their airline customers with an exceptional level of service and the investors with global coverage and local market knowledge. Aircastle Limited acquires leases and sells commercial jet aircraft to airlines throughout the world. As of September 30, 2019, the firm has owned and managed on behalf of their joint ventures 277 aircraft leased to 87 lessees located in 48 countries. Since August 8, 2006, Aircastle has been traded on the New York Stock Exchange under the ticker symbol AYR. On November 6, 2019, Aircastle reached a merger agreement with Marubeni and Mizuho Leasing
Aircastle has focused on providing investors a steady return on investment through regular dividends. Since inception through September 30, 2019, they have paid over $925 million in aggregate dividends –additionally since 2011. The company’s fleet has grown from 129 to 277 of owned and managed aircraft. During 2018, the firm dramatically improved the credit profile of the company, with recent rating upgrades to BBB- by Standard &Poor’s and Fitch Ratings, in addition to Moody’s Investors Service rating upgrade to Baa3.
Unique & Necessary
Over the past ten years plus, Aircastle has developed, and enjoys, a well-earned reputation as a company with a unique and necessary position in the commercial aircraft leasing industry. Their investment strategy prioritizes risk-adjusted returns that are not limited to any specific asset age grouping. They have invested across the age spectrum and continuously look for unique investment opportunities. Their franchise strength and positioning are supported by a team of professionals with extensive experience and deep network of contacts across the industry. As the only permanently capitalized leasing platform that is focused on the secondary market Aircastle has developed a competitive advantage characterized by solid execution abilities and sound financials. As the only permanently capitalized leasing platform that is focused in the secondary market they have developed a competitive advantage characterized by solid execution abilities and sound financials with aim to be the leader in the current market.
Marubeni Corporation which is considered one of Japan’s premier trading companies with a 150 year+ history is a major investor of Aircastle. Approximately $61.9 billion in total assets and a stock market capitalization of $12.1 billion as of March 31, 2019. It has created worldwide footprint and broad aerospace industry experience to next level.
Meet the ardent visionary: Michael J. Inglese
Michael Inglese serves as the Chief Executive Officer of Aircastle. He was previously the Chief Financial Officer of Aircastle. Prior to joining the Company, Mr. Inglese served as Chief Financial Officer of PanAmSat Holding Corporation from June 2000 until the closing of PanAmSat’s sale to Intelsat in July 2006. Mr. Inglese joined PanAmSat in May 1998 as Vice President, Finance after serving as Chief Financial Officer for DIRECTV Japan, Inc. He is a Chartered Financial Analyst who holds a BS in Mechanical Engineering from Rutgers University College of Engineering and an MBA from Rutgers Graduate School of Business Management.