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8-K - FORM 8-K - Aircastle LTD | y03673e8vk.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact:
Aircastle Limited
Julia Hallisey
Tel: + 1-203-504-1063
Julia Hallisey
Tel: + 1-203-504-1063
Aircastle Secures $108 Million Pre-Delivery Payment Financing Facility
Stamford, CT. June 24, 2010 Aircastle Limited (NYSE: AYR) announced today that it signed a
credit agreement for a $108 million pre-delivery payment financing commitment from Sumitomo Mitsui
Banking Corporation (SMBC) with respect to six new Airbus A330-200 passenger aircraft scheduled
for delivery on long-term leases to South African Airways PTY LTD during 2011.
Ron Wainshal, Aircastles Chief Executive Officer, commented, This financing will provide
Aircastle with additional capital to continue accessing the attractive investment opportunities we
are finding in the current market. We are very pleased to continue building on our relationship
with SMBC.
About Aircastle Limited
Aircastle Limited is a global company that acquires, leases and sells high-utility commercial jet
aircraft to airlines throughout the world. As of March 31, 2010 Aircastles aircraft portfolio
consisted of 129 aircraft and had 59 lessees located in 33 countries.
Safe Harbor
Certain items in this press release and other information we provide from time to time, may
constitute forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995 including, but not necessarily limited to, statements relating to our ability to
acquire, lease or finance aircraft and the global aviation industry and aircraft leasing sector.
Words such as anticipates, expects, intends, plans, projects, believes, may, will,
would, could, should, seeks, estimates and variations on these words and similar
expressions are intended to identify such forward-looking statements. These statements are based
on managements current expectations and beliefs and are subject to a number of factors that could
lead to actual results materially different from those described in the forward-looking statements;
Aircastle Limited can give no assurance that its expectations will be attained. Accordingly, you
should not place undue reliance on any forward-looking statements contained in this press release.
Factors that could have a material adverse effect on our operations and
future prospects or that could cause actual results to differ materially from Aircastle Limiteds
expectations include, but are not limited to, prolonged capital markets disruption and volatility,
which may adversely affect our continued ability to obtain additional capital to finance our
working capital needs, our pre-delivery payment obligations and other aircraft acquisition
commitments, our ability to extend or replace our existing financings, and the demand for and value
of aircraft; our exposure to increased bank and counterparty risk caused by credit and capital
markets disruptions; volatility in the value of our aircraft or in appraisals thereof, which may,
among other things, result in increased principal payments under our term financings and reduce our
cash flow available for investment or dividends; general economic conditions and business
conditions affecting demand for aircraft and lease rates; our continued ability to obtain favorable
tax treatment in Bermuda, Ireland and other jurisdictions; our ability to pay dividends; high or
volatile fuel prices, lack of access to capital, reduced load factors and/or reduced yields,
operational disruptions caused by volcanic activity and other factors affecting the
creditworthiness of our airline customers and their ability to continue to perform their
obligations under our leases; termination payments on our interest rate hedges; and other risks
detailed from time to time in Aircastle Limiteds filings with the SEC, including Risk Factors as
previously disclosed in Aircastles 2009 Annual Report on Form 10-K, and in our other filings with
the SEC, press releases and other communications. In addition, new risks and uncertainties emerge
from time to time, and it is not possible for Aircastle to predict or assess the impact of every
factor that may cause its actual results to differ from those contained in any forward-looking
statements. Such forward-looking statements speak only as of the date of this press release.
Aircastle Limited expressly disclaims any obligation to release publicly any updates or revisions
to any forward-looking statements contained herein to reflect any change in its expectations with
regard thereto or change in events, conditions or circumstances on which any statement is based.
For more information regarding Aircastle and to be added to our email distribution list, please
visit www.aircastle.com.