STAMFORD, Conn., Feb. 18, 2016 /PRNewswire/ -- Aircastle Limited ("Aircastle") (NYSE: AYR) announced today that it formed an aircraft leasing joint venture with IBJ Leasing Co., Ltd. ("IBJL'"), a Japanese general leasing company which is part of Mizuho Financial Group.
The joint venture, which will be serviced by Aircastle, will target investments in newer narrow-body aircraft leased to premier airlines. It is expected the joint venture will purchase its first two aircraft from Aircastle and that future aircraft investments will be acquired directly. Aircastle will own 25% of the joint venture.
Ron Wainshal, Aircastle's Chief Executive Officer, commented, "We are excited to work together with IBJL to target a new market opportunity and expand Aircastle's range of offerings to our customers around the world. This new venture is another example of the benefits arising from our strategic relationship with Marubeni Corporation."
About Aircastle Limited
Aircastle Limited acquires, leases and sells commercial jet aircraft to airlines throughout the world. As of December 31, 2015, Aircastle's aircraft portfolio consisted of 162 aircraft on lease with 53 customers located in 34 countries.
All statements included or incorporated by reference in this Press Release (this "Release"), other than characterizations of historical fact, are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include, but are not necessarily limited to, statements relating to our ability to acquire, sell, lease or finance aircraft, raise capital, pay dividends, and increase revenues, earnings, EBITDA, Adjusted EBITDA and Adjusted Net Income and the global aviation industry and aircraft leasing sector. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "may," "will," "would," "could," "should," "seeks," "estimates" and variations on these words and similar expressions are intended to identify such forward-looking statements. These statements are based on our historical performance and that of our subsidiaries and on our current plans, estimates and expectations and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements; Aircastle can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any such forward-looking statements which are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated as of the date of this Release. These risks or uncertainties include, but are not limited to, those described from time to time in Aircastle's filings with the SEC and previously disclosed under "Risk Factors" in Item 1A of Aircastle's 2015 Annual Report on Form 10-K, and elsewhere in this Release. In addition, new risks and uncertainties emerge from time to time, and it is not possible for Aircastle to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this Release. Aircastle expressly disclaims any obligation to revise or update publicly any forward-looking statement to reflect future events or circumstances.
SOURCE Aircastle Limited