For the third quarter of 2011 Aircastle reported lease rental revenue of $145.9m and EBITD of $137.6m, net income of $22.7m and adjusted net income of $15.4m. The company reported adjusted net income plus depreciation and amortization of $80.2m. During the quarter Aircastle purchased four aircraft for a total acquisition cost of approximately $210m, including two new Airbus A330s from their order stream, sold two aircraft for a total pre-tax gain of $9.0m and entered into new five-year forward starting interest rate swap arrangement for Securitization No. 2 at an average fixed rate of 1.27% effective June 2012.
During the third quarter Aircastle repurchased an additional 2.6m shares of common stock at an average price of $11.37 per share for total cost of $30m, bringing the total number of common shares repurchased to 7.6m shares for a total cost of $90m during 2011.
