Aircastle announces fourth quarter and full year 2011 results

Aircastle Limited reported fourth quarter 2011 net income of $35.6m, up 96% and adjusted net income of $31.2m, up 139%.  Net income for the year ended December 31, 2011 increased to $124.3m, up 99% and adjusted net income was $100.1m, up 55%.  The fourth quarter results included a pre-tax gain of $10.1m from the sale of five aircraft and non-cash hedge ineffectiveness charges of $5.6m, primarily resulting from the sale of the latest delivery from Aircastle’s A330 program.  The full year results included a pre-tax gain of $39.1m from the sale of thirteen aircraft and non-cash hedge ineffectiveness charges which totaled $8.4m, primarily resulting from the sale of aircraft throughout the year.