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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; doug.cameron@dowjones.com

Stock News for Boeing (BA)
DateTimeHeadline
02/09/201614:34:12Amended Statement of Ownership (sc 13g/a)
02/09/201614:16:00Boeing Selects UTC Aerospace Systems for Continued Sustainment...
02/08/201619:19:00Boeing Supports ICAO Aircraft CO2 Emissions Standard
02/07/201620:30:00Airbus Switches Engine Type for First A321neo Flight
02/07/201614:42:00Airbus Switches Engine Type for First A321neo Flight
02/03/201614:18:00Spirit AeroSystems Set to Adjust to Jet Makers' Output Changes
02/03/201612:00:00Boeing May Deliver 737 Max Ahead of Target
02/03/201611:51:00Boeing May Deliver 737 Max Ahead of Target
02/02/201623:28:00Boeing Delivers First 787 Dreamliner to Saudia
02/02/201605:59:00Boeing Tells Customers 737 Max May Arrive Early
02/01/201606:00:00UTC Aerospace Systems and Boeing celebrate the first flight of...
01/29/201619:05:00Boeing Test Flies New 737 Max Aircraft -- Update
01/29/201618:31:00Boeing Gets Contract for Development Work on New Air Force One...
01/29/201617:06:00Boeing Completes Successful 737 MAX First Flight
01/29/201614:50:00Boeing Test Flies New 737 Max Aircraft
01/29/201614:39:00Boeing Test Flies New 737 Max Aircraft
01/29/201605:00:00Boeing, SWISS Celebrate Delivery of Airline's First 777-300ER
01/28/201620:30:00United Continental Plans San Francisco-Singapore Nonstop Routes
01/28/201618:00:00Boeing, Air Lease Corporation Celebrate Next-Generation 737 Delivery...
01/28/201616:26:00Boeing, Xiamen Airlines Celebrate Milestone 8,888th 737 Delivery

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