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These excerpts taken from the AYR 10-K filed Mar 2, 2009. OVERVIEW
We are a global company that acquires, leases and sells
high-utility commercial jet aircraft to passenger and cargo
airlines throughout the world. High-utility aircraft are
generally modern, operationally efficient jets with a large
operator base and long useful lives. As of December 31,
2008, our aircraft portfolio consisted of 130 aircraft that were
leased to 55 lessees located in 31 countries, and managed
through our offices in the United States, Ireland and Singapore.
Typically, our aircraft are subject to net operating leases
whereby the lessee is generally responsible for maintaining the
aircraft and paying operational, maintenance and insurance
costs, although, in a majority of cases, we are obligated to pay
a portion of specified maintenance or modification costs. From
time to time, we also make investments in other aviation assets,
including debt investments secured by commercial jet aircraft.
Our revenues and income from continuing operations for the year
ended December 31, 2008 were $582.6 million and
$115.3 million, respectively and for the fourth quarter
2008 were $157.8 million and $24.7 million,
respectively.
OVERVIEW We are a global company that acquires, leases and sells high-utility commercial jet aircraft to passenger and cargo airlines throughout the world. High-utility aircraft are generally modern, operationally efficient jets with a large operator base and long useful lives. As of December 31, 2008, our aircraft portfolio consisted of 130 aircraft that were leased to 55 lessees located in 31 countries, and managed through our offices in the United States, Ireland and Singapore. Typically, our aircraft are subject to net operating leases whereby the lessee is generally responsible for maintaining the aircraft and paying operational, maintenance and insurance costs, although, in a majority of cases, we are obligated to pay a portion of specified maintenance or modification costs. From time to time, we also make investments in other aviation assets, including debt investments secured by commercial jet aircraft. Our revenues and income from continuing operations for the year ended December 31, 2008 were $582.6 million and $115.3 million, respectively and for the fourth quarter 2008 were $157.8 million and $24.7 million, respectively. This excerpt taken from the AYR 10-Q filed Nov 17, 2008. OVERVIEW
We are a global company that acquires, sells, manages and leases
high-utility commercial jet aircraft to passenger and cargo
airlines throughout the world. High-utility aircraft are
generally modern, operationally efficient jets with a large
operator base and long useful lives. As of September 30,
2008, our aircraft portfolio consisted of 133 aircraft and we
had 58 lessees located in 33 countries. At September 30,
2008, the average age of the aircraft in the portfolio was
10.2 years and the average remaining lease term was
5.4 years, in each case weighted by net book value. Our
revenues and income from continuing operations for the three and
nine months ended September 30, 2008 were
$144.5 million and $23.6 million and
$424.8 million and $90.6 million, respectively.
Going forward, we are evaluating opportunities which leverage
our extensive experience acquiring and managing aviation
investments and include:
(1) investing in aircraft when we can add value and produce
above average risk-adjusted returns;
(2) investing in our own securities, if
appropriate; and
(3) managed funds or other entities to invest in aircraft.
On December 11, 2007, our board of directors declared a
fourth quarter dividend of $0.70 per common share or an
aggregate of $55,004, for the three months ended
December 31, 2007, which was paid on January 15, 2008
to shareholders of record on December 31, 2007. On
March 24, 2008, our board of directors declared a first
quarter dividend of $0.25 per common share, or an aggregate of
$19.6 million, for the three months ended March 31,
2008, which was paid on April 15, 2008 to shareholders of
record on March 31, 2008. On June 11, 2008, our board
of directors declared a second quarter dividend of $0.25 per
common share, or an aggregate of $19.6 million, for the
three months ended June 30, 2008, which was paid on
July 15, 2008 to shareholders of record on June 30,
2008. On September 11, 2008, our board of directors
declared a third quarter dividend of $0.25 per common share, or
an aggregate of $19.7 million, for the three months ended
September 30, 2008, which was paid on October 15, 2008
to shareholders of record on September 30, 2008. These
dividends may not be indicative of the amount of any future
dividends.
This excerpt taken from the AYR 10-Q filed Aug 8, 2008. OVERVIEW
We are a global company that acquires, sells, manages and leases
high-utility commercial jet aircraft to passenger and cargo
airlines throughout the world. High-utility aircraft are
generally modern, operationally efficient jets with a large
operator base and long useful lives. As of June 30, 2008,
our aircraft portfolio consisted of 135 aircraft and we had 58
lessees located in 30 countries. At June 30, 2008, the
average age of the aircraft in the portfolio was 10.1 years
and the average remaining lease term was 5.5 years, in each
case weighted by net book value. Our revenues and income from
continuing operations for the three and six months ended
June 30, 2008 were $151.9 million and
$35.3 million and $286.1 million and
$67.0 million, respectively.
Our acquisition strategy is flexible and allows us to take
advantage of available market opportunities and funding
structures. Going forward, we are evaluating initiatives which
leverage our extensive experience acquiring and managing
aviation investments and include:
(2) investing in our own securities, if
appropriate; and
(3) managed funds or other entities to invest in aircraft.
We intend to pay regular quarterly dividends to our
shareholders. On March 24, 2008, our board of directors
declared a first quarter dividend of $0.25 per common share, or
an aggregate of $19.6 million, for the three months ended
March 31, 2008, which was paid on April 15, 2008 to
shareholders of record on March 31, 2008. On June 11,
2008, our board of directors declared a second quarter dividend
of $0.25 per common share, or an aggregate of
$19.6 million, for the three months ended June 30,
2008, which was paid on July 15, 2008 to shareholders of
record on June 30, 2008. These dividends may not be
indicative of the amount of any future dividends.
This excerpt taken from the AYR 8-K filed Sep 26, 2007. OVERVIEW We are a global company that acquires and leases high-utility commercial jet aircraft to passenger and cargo airlines throughout the world. High-utility aircraft are generally modern, operationally efficient jets with a large operator base and long useful lives. As of December 31, 2006, our aircraft portfolio consisted of 68 aircraft that were leased to 31 lessees located in 23 countries and managed through our offices in the United States, Ireland and Singapore. All of our aircraft are subject to net operating leases whereby the lessee is generally responsible for maintaining the aircraft and paying operational and insurance costs although, in a majority of cases, we are obligated to pay a portion of specified maintenance or modification costs. We also make investments in other aviation assets, including debt securities secured by commercial jet aircraft. As of March 15, 2007, we had acquired and committed to acquire aviation assets having an aggregate purchase price equal to $2.20 billion and $1.44 billion, respectively, for a total of approximately $3.64 billion. Our revenues and income from continuing operations for the year ended December 31, 2006 were $182.9 million and $45.9 million, respectively, and for the fourth quarter 2006 are $59.6 million and $19.1 million, respectively. We intend to pay regular quarterly dividends to our shareholders. We plan to grow our dividends per share through the acquisition of additional aviation assets using cash on hand and available credit facilities. We expect to finance our acquisitions on a long-term basis using low-cost, non-recourse securitizations. Securitizations allow us to raise long-term capital by pledging cash flows of an asset pool, such as aircraft leases. In June 2006, we closed our first securitization, a $560 million transaction comprising 40 aircraft, which we refer to as Securitization No. 1. On March 14, 2007, our board of directors declared a regular quarterly dividend of $0.50 per common share, or an aggregate of $33.6 million, for the three months ended March 31, 2007, payable on April 13, 2007 to holders of record on March 30, 2007. In addition, on January 15, 2007, we paid a regular quarterly dividend of $0.4375 per common share for the three months ended December 31, 2006, to shareholders of record as of December 29, 2006. These dividends may not be indicative of the amount of any future dividends. | EXCERPTS ON THIS PAGE:
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