Aircastle has plans in place to handle five aircraft that were returned early during the first quarter of 2013.
The lessor early terminated leases on the aircraft due to "lessee financial difficulties" and recorded maintenance and other revenues totalling $14.8 million, which was partially offset by impairment charges totalling $6.2 million.
Ron Wainshal. Aircastle's chief executive officer, said on a first quarter earnings call today the lessor has "lease commitments" for the two Boeing 737-700s and the Airbus A330-200. The lessor will part-out the Boeing 767-300ER and the Airbus A319.
The early returned aircraft resulted in a pre-tax net earnings contribution of $8.6 million, he says.