Exhibit 99.1
| Contact: | FOR IMMEDIATE RELEASE |
| Julia Hallisey | |
| Investor Relations | |
| Tel: +1-203-504-1063 | |
Aircastle Limited Announces $206.6 Million 5-Year Term Debt Facility
Stamford, CT. September 23, 2008 - Aircastle Limited (NYSE: AYR) (“Aircastle”) announced today that a wholly-owned subsidiary of Aircastle Limited entered into and funded a five year, $206.6 million senior secured term loan on a portfolio of nine aircraft. The facility was arranged by DVB Bank AG (“DVB”) acting as Sole Bookrunner and will be fully underwritten by DVB. Proceeds from the financing will be used to repay related outstanding amounts for the aircraft under Aircastle’s existing credit facilities.
CEO Ron Wainshal commented, “We’re pleased to expand on our strong relationship with DVB and believe this transaction demonstrates our ability to continue accessing financing on reasonable terms. This facility, along with an executed aircraft sale agreement for one Boeing 747-400, will refinance the assets remaining in our warehouse financing facility.”
About Aircastle Limited
Aircastle Limited is a global company that acquires and leases high-utility commercial jet aircraft to airlines throughout the world. As of June 30, 2008 Aircastle’s aircraft portfolio consisted of 135 aircraft comprising a variety of passenger and freighter aircraft types that were leased to 58 lessees located in 30 countries.
Safe Harbor
Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to our ability to close and fund our financings. Words such as ‘‘anticipate(s)’’, ‘‘expect(s)’’, ‘‘will’’ and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs 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 Limited can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. Factors that could have a material adverse effect on our operations and future prospects or that could cause actual results to differ materially from Aircastle Limited's expectations include, but are not limited to, our continued ability to obtain additional capital to finance our working capital needs and our growth and to refinance our short-term debt financings with longer-term debt financings; our ability to acquire aircraft at attractive prices; our continued ability to obtain favorable tax treatment in Bermuda, Ireland and other jurisdictions; our ability to pay or maintain dividends; our ability to lease aircraft at favorable rates; an adverse change in the value of our aircraft; the possibility that conditions to closing of certain transactions will not be satisfied; general economic conditions and economic conditions in the markets in which we operate; competitive pressures within the industry and/or markets in which we operate; high fuel prices and other factors affecting the creditworthiness of our airline customers; interest rate fluctuations; margin calls on our interest rate hedges; our ability to obtain certain required licenses and approvals; the impact of future terrorist attacks or wars on the airline industry; our concentration of customers, including geographical concentration; and other risks detailed from time to time in Aircastle Limited’s filings with the Securities and Exchange Commission (‘SEC”), including as disclosed in our 2007 Annual Report on Form 10-K filed on February 28, 2008, and in our other filings with the SEC, press releases and other communications. 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 press release. Aircastle Limited expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
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