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Aircastle CEO Sees No Impact From New Airbus, Boeing Planes

By Doug Cameron Of DOW JONES NEWSWIRES The head of one of the world's largest aircraft leasing companies said Thursday new planes planned by Airbus and Boeing Co. (BA) weren't hitting rental rates for existing planes. Ron Wainshal, chief executive officer of Aircastle Ltd. (AYR), also said the company would boost its planned spending on planes this year, with more opportunities emerging as banks pulled back from financing in the sector. The impact of the new Airbus A320neo and Boeing 737 Max on aircraft rental rates has been a subject of intense industry debate. International Lease Finance Corp., the world's second-largest lessor, has taken billions of dollars in write-downs on its fleet, citing the depressive impact of new, yet-to-fly planes. Other leasing companies have not followed suit. "Max and neo [have] had zero impact on rentals," said Wainshal at an investor conference. He said rental rates for some aircraft types--notably the Boeing 737-800--have recovered "modestly," and are outperforming the Airbus A320. Both planes are due to be replaced by versions with new engines later in the decade. Wainshal said Aircastle planned to invest at least $700 million in planes this year, $100 million higher than previously forecast. ILFC's writedowns over the past two years have rattled an industry that had prospered from the growing popularity of airlines renting rather than buying planes. The company attributed part of the charges to the depressing impact on existing plane values from new aircraft. Most rivals, including the market-leading Gecas unit of General Electric Co. (GE) did not take parallel writedowns, and have said it's too soon to determine the impact of new planes that won't come into service until late 2015 at the earliest. -By Doug Cameron, Dow Jones Newswires; 312-750-4135; [email protected]

Stock News for Aircastle Ltd. (AYR)
03/20/201716:44:43Current Report Filing (8-k)
03/15/201714:55:33Confidential Treatment Order (ct Order)
03/13/201717:26:00Aircastle to Present at the J.P. Morgan Aviation, Transportation...
03/10/201717:31:23Current Report Filing (8-k)
03/08/201717:25:57Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
03/06/201717:22:48Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
03/06/201716:15:00Aircastle Announces Pricing of $500 Million Aggregate Principal...
03/06/201707:15:12Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
03/06/201707:11:00Aircastle Announces Proposed Offering of $500 Million Aggregate...
02/15/201716:27:26Current Report Filing (8-k)
02/15/201707:11:37Annual Report (10-k)
02/14/201707:30:00Aircastle Announces Fourth Quarter and Full Year 2016 Results
02/13/201716:43:22Statement of Changes in Beneficial Ownership (4)
02/13/201716:42:32Statement of Changes in Beneficial Ownership (4)
02/13/201716:37:20Statement of Changes in Beneficial Ownership (4)
02/13/201716:31:38Statement of Changes in Beneficial Ownership (4)
02/13/201716:30:19Statement of Changes in Beneficial Ownership (4)
02/13/201716:26:15Statement of Changes in Beneficial Ownership (4)
02/09/201710:24:42Statement of Ownership (sc 13g)
02/09/201706:05:32Amended Statement of Ownership (sc 13g/a)

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