AeroCentury earns US$299,000 in the 2nd quarter of 2016

AeroCentury, an independent aircraft leasing company, reported second quarter 2016 earnings of US$299,000, compared to US$1.4m for the second quarter of 2015, and US$434,000, for the first quarter of 2016. Earnings reported for the second quarter of 2016 included gains of US$2.2m related to an aircraft disposition pursuant to a sales-type finance lease and insurance proceeds for one aircraft. In 2015, gains of US$2.7m related to dispositions of aircraft pursuant to sales-type finance leases boosted earnings. In the first half of 2016, net income totaled US$732,000, compared to US$2.1 million in the first half of 2015. Net income for the six months ended June 30, 2016 included gains of US$2.2m related to aircraft dispositions pursuant to sales-type finance leases, as well as insurance proceeds for one aircraft and, in 2015, gains of US$4.5m related to dispositions of aircraft for cash and pursuant to sales-type finance leases.