Aircastle's Q3 writedowns reflect 21-year-old aircraft

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Aircastle's $78.7 million in third quarter impairment charges reflect writedowns on 15 narrowbody and widedbody aircraft, which have an average age of 21 years.

The aircraft include "ten 'classic' narrowbodies; four Boeing 767-300ERs and one Airbus A310 freighter", Aircastle indicates in a third quarter presentation to investors.

The lessor says the impairment charges reflect its "current estimate of future lease rates and residual values associated with the aircraft in the current market environment".

The aircraft represent approximately 1.7% of the net book value of the lessor's flight equipment.