Aircastle (Aircastle) Q4 2026 earnings summary

Executive summary

• Ended FY2026 with 282 aircraft, $8.5B fleet NBV, and 76 lessees across 45 countries.

• FY2026 revenue rose to $975M from $821M year-over-year; net income increased to $194M from $124M.

• Acquired 46 aircraft for $1.7B and sold 33 aircraft for $730M in FY2026; 51% of fleet NBV is new technology.

• Extended $500M in revolving credit facilities and collected $71M in insurance settlements.

• Q4 FY2026 revenue was $251M, up 22% year-over-year; net income was $57M.

Financial highlights

• FY2026 EBITDA reached $889M, up from $771M; Adjusted EBITDA was $945M, up from $790M year-over-year.

• Gains on aircraft sales totaled $96M for FY2026.

• Insurance settlement proceeds of $71M were collected.

• 273 unencumbered aircraft with NBV of $8.4B as of Feb 28, 2026.

• Weighted average fleet age was 9.0 years; average remaining lease term was 5.4 years.

Outlook and guidance

• Aircraft and engine shortages expected to persist, with demand outstripping supply into 2026.

• Management plans disciplined fleet investment and efficient capital market access amid global travel demand and uncertainties.

• Heightened vigilance due to geopolitical risks and surging fuel costs impacting airlines.

• Favorable financing conditions for investment-grade lessors anticipated to continue.