Aircastle announces third quarter net loss of $74.6m

Aircastle reported a third quarter 2013 net loss of $74.6m and an adjusted net loss of $69.1m. The third quarter results included operating and finance lease rental revenues of $165.3m, an increase of 1.4%, versus $163.1m in the third quarter of 2012. The third quarter 2013 results include $106.1m of non-cash impairment charges consisting mostly of charges related to the Company’s annual fleet review totaling $97.6m. These impairment charges relate to six 747-400 converted freighter aircraft and one 737-700 aircraft. Excluding these charges, third quarter net income was $21.0m and adjusted net income was $26.5m.