Aircastle Limited (NYSE: AYR) announced today that one of its affiliates has agreed to acquire two Boeing 747-400 production freighter aircraft. The aircraft are currently being operated by Japan Airlines and are expected to deliver to Aircastle during the fourth quarter of 2010. Aircastle has already secured executed letters of intent for the lease of both aircraft.
Aircastle CEO Ron Wainshal commented, "We are adding two latest-generation freighter aircraft to our fleet to address the strong demand for modern, fuel-efficient cargo capacity. Importantly, we have signed letters of intent for long-term lease of both aircraft with industry-leading cargo carriers. This is a great example of the kind of transaction that allows Aircastle to maintain consistently strong portfolio utilization and yield."
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