Aircastle (AYR) 10-Q 1 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 28, 2014
Document And Entity Information [Abstract]	'	'
Entity Registrant Name	'Aircastle LTD	'
Entity Central Index Key	'0001362988	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	81,007,388

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$187,532	$654,613
Accounts receivable	6,041	2,825
Restricted cash and cash equivalents	101,358	122,773
Restricted Liquidity Facility Collateral	65,000	107,000
Flight equipment held for lease, net of accumulated depreciation of $1,430,325 and $1,407,022	5,577,966	5,044,410
Net investment in finance leases	72,600	145,173
Equity Method Investments	21,838	21,123
Other assets	179,232	153,976
Total assets	6,211,567	6,251,893
LIABILITIES	'	'
Borrowings from secured financings (including borrowings of ACS Ireland VIEs of $152,545 and $85,478, respectively)	1,552,493	1,586,835
Borrowings from unsecured financings	2,200,000	2,150,527
Accounts payable, accrued expenses and other liabilities	131,675	111,661
Lease rentals received in advance	52,215	49,235
Liquidity facility	65,000	107,000
Security deposits	130,611	118,804
Maintenance payments	433,703	442,432
Fair value of derivative liabilities	4,757	39,992
Total liabilities	4,570,454	4,606,486
Commitments and Contingencies	'	'
SHAREHOLDERS’ EQUITY	'	'
Preference shares, $.01 par value, 50,000,000 shares authorized, no shares issued and outstanding	'	'
Common shares, $.01 par value, 250,000,000 shares authorized, 80,806,975 shares issued and outstanding at December 31, 2013; and 81,007,388 shares issued and outstanding at June 30, 2014	810	808
Additional paid-in capital	1,562,736	1,562,106
Retained earnings	134,909	158,398
Accumulated other comprehensive loss	-57,342	-75,905
Total shareholders’ equity	1,641,113	1,645,407
Total liabilities and shareholders’ equity	$6,211,567	$6,251,893

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Accumulated depreciation on flight equipment held for lease	$1,407,022	$1,430,325
Borrowings from secured financings	1,552,493	1,586,835
Common shares, par value	$0.01	$0.01
Common shares, shares authorized	250,000,000	250,000,000
Common shares, shares issued	81,007,388	80,806,975
Common shares, shares outstanding	81,007,388	80,806,975
Preference shares, par value	$0.01	$0.01
Preference shares, shares authorized	50,000,000	50,000,000
Preference shares, shares issued	'	'
Preference shares, shares outstanding	'	'
Variable Interest Entity, Primary Beneficiary | ACS Ireland	'	'
Borrowings from secured financings	$85,478	$152,545

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'	'	'
Lease rental revenue	$183,231	$157,918	$357,566	$314,508
Finance lease revenue	3,897	4,114	7,884	7,998
Amortization of lease premiums, discounts and lease incentives	414	-8,709	-6,177	-15,790
Maintenance revenue (including contra maintenance revenue of $0 and $0 for the three months ended and $0 and $16,382 for the six months ended June 30, 2013 and 2014, respectively)	36,182	13,185	39,224	30,051
Total lease revenue	223,724	166,508	398,497	336,767
Other revenue	2,422	3,870	4,252	9,800
Total revenues	226,146	170,378	402,749	346,567
Operating expenses:	'	'	'	'
Depreciation	75,784	72,079	149,711	141,979
Interest, net	60,494	66,656	124,757	125,808
Selling, general and administrative (including non-cash share based payment expense of $1,053 and $1,228 for the three months ended and $1,864 and $2,218 for the six months ended June 30, 2013 and 2014, respectively)	14,057	13,182	28,001	26,467
Impairment of Aircraft	28,306	0	46,569	6,199
Maintenance and other costs	2,646	6,138	4,509	9,550
Total expenses	181,287	158,055	353,547	310,003
Other income (expense):	'	'	'	'
Gain on sale of flight equipment	884	21,317	1,994	22,509
Gains (Losses) on Extinguishment of Debt	-36,570	0	-36,570	0
Other	0	2,946	757	4,161
Total other income (expense)	-35,686	24,263	-33,819	26,670
Income from continuing operations before income taxes	9,173	36,586	15,383	63,234
Income tax provision	6,558	3,732	7,441	7,316
Income (Loss) from Equity Method Investments	521	0	971	0
Net income	$3,136	$32,854	$8,913	$55,918
Earnings per common share — Basic:	'	'	'	'
Net income (loss) per share (in dollars per share)	$0.04	$0.48	$0.11	$0.82
Earnings per common share — Diluted:	'	'	'	'
Net income (loss) per share (in dollars per share)	$0.04	$0.48	$0.11	$0.82
Dividends declared per share (in dollars per share)	$0.20	$0.17	$0.40	$0.33

Consolidated_Statements_of_Inc1

Consolidated Statements of Income (Unaudited) (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'
Contra maintenance revenue	$0	$0
Maintenance Revenue	36,182	13,185
Non-cash share based payment expense	$1,228	$1,053

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net income (loss)	$3,136	$32,854	$8,913	$55,918
Other comprehensive income, net of tax:	'	'	'	'
Net change in fair value of derivatives, net of tax expense of $193 and $0 for the three months ended and $311 and $804 for the six months ended June 30, 2013 and 2014, respectively	12	8,127	382	11,953
Net derivative loss reclassified into earnings	8,854	9,711	18,181	17,985
Other comprehensive income	8,866	17,838	18,563	29,938
Total comprehensive income	$12,002	$50,692	$27,476	$85,856

Consolidated_Statements_of_Com1

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net of tax expense	$0	$193	$804	$311

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Equity Method Investments	$21,838	'
Net income (loss)	8,913	55,918
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	149,711	141,979
Amortization of deferred financing costs	6,987	8,781	[1]
Amortization of net lease discounts and lease incentives	6,177	15,790
Deferred income taxes	3,999	3,237
Non-cash share based payment expense	2,218	1,864
Cash flow hedges reclassified into earnings	18,181	17,985
Security deposits and maintenance payments included in earnings	-40,006	-25,538
Gain on sale of flight equipment	-1,994	-22,509
Gains (Losses) on Extinguishment of Debt	36,570	0
Impairment of Aircraft	46,569	6,199
Other	-91	-3,817
Changes in certain assets and liabilities:	'	'
Accounts receivable	-3,619	-410
Other assets	-1,914	4,834
Accounts payable, accrued expenses and other liabilities	-20,438	-3,824
Lease rentals received in advance	2,742	-7,050
Net cash provided by operating activities	214,005	193,439
Cash flows from investing activities:	'	'
Acquisition and improvement of flight equipment and lease incentives	-834,467	-331,067
Proceeds from sale of flight equipment	246,037	253,909
Increase (Decrease) in Restricted Cash	7,600	0
Aircraft purchase deposits and progress payments	-3,785	-1,869
Net investment in finance leases	-14,258	-11,605
Collections on finance leases	6,219	4,052
Payments to Acquire Interest in Subsidiaries and Affiliates	-159	0
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	651	0
Principal repayments on debt investment	0	42,001
Other	-405	-829
Net cash used in investing activities	-592,567	-45,408
Cash flows from financing activities:	'	'
Issuance of shares net of repurchases	-2,091	-7,940
Proceeds from notes and term debt financings	803,200	0
Securitization and term debt financing repayments	-827,512	-294,064
Payments of Debt Extinguishment Costs	-32,835	0
Deferred financing costs	-15,834	-557
Restricted secured liquidity facility collateral	42,000	0
Secured liquidity facility collateral	-42,000	0
Restricted cash and cash equivalents related to financing activities	-13,815	81,664
Security deposits and maintenance payments received	83,144	104,787
Security deposits and maintenance payments returned	44,577	33,975
Payments for terminated cash flow hedges	-33,427	0
Dividends paid	-32,402	-22,565
Net cash (used in) provided by financing activities	-88,519	-335,978
Net increase (decrease) in cash and cash equivalents	-467,081	-187,947
Cash and cash equivalents at beginning of period	654,613	618,217
Cash and cash equivalents at end of period	187,532	430,270
Supplemental disclosures of cash flow information:	'	'
Cash paid for interest, net of capitalized interest	112,386	100,374
Cash paid for income taxes	3,630	529
Supplemental disclosures of non-cash investing activities:	'	'
Purchase deposits, advance lease rentals, security deposits and maintenance payments assumed in asset acquisitions	18,522	21,958
Term debt financings assumed in asset acquisitions	39,061	84,721
Advance lease rentals, security deposits, and maintenance payments settled in sale of flight equipment	$17,533	$35,475
[1]	For the three and six months ended June 30, 2013, includes the write-off of deferred financings fees of $3,825 related to the repayment of two ECA Financings.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	'
	Summary of Significant Accounting Policies
	Organization and Basis of Presentation
	Aircastle Limited (“Aircastle,” the “Company,” “we,” “us” or “our”) is a Bermuda exempted company that was incorporated on October 29, 2004 under the provisions of Section 14 of the Companies Act of 1981 of Bermuda. Aircastle’s business is investing in aviation assets, including acquiring, leasing, managing and selling high utility commercial jet aircraft. From time to time, we also make investments in other aviation assets, including debt investments secured by commercial jet aircraft.
	Aircastle is a holding company that conducts its business through subsidiaries. Aircastle directly or indirectly owns all of the outstanding common shares of its subsidiaries. The consolidated financial statements presented are prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”). We operate in one segment.
	The accompanying consolidated financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting and, in our opinion, reflect all adjustments, including normal recurring items, which are necessary to present fairly the results for interim periods. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the entire year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with US GAAP have been omitted in accordance with the rules and regulations of the SEC; however, we believe that the disclosures are adequate to make information presented not misleading. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
	The Company’s management has reviewed and evaluated all events or transactions for potential recognition and/or disclosure since the balance sheet date of June 30, 2014 through the date on which the consolidated financial statements included in this Form 10-Q were issued.
	Principles of Consolidation
	The consolidated financial statements include the accounts of Aircastle and all of its subsidiaries. Aircastle consolidates seven Variable Interest Entities (“VIEs”) of which Aircastle is the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation.
	We consolidate VIEs in which we have determined that we are the primary beneficiary. We use judgment when deciding (a) whether an entity is subject to consolidation as a VIE, (b) who the variable interest holders are, (c) the potential expected losses and residual returns of the variable interest holders, and (d) which variable interest holder is the primary beneficiary. When determining which enterprise is the primary beneficiary, we consider (1) the entity’s purpose and design, (2) which variable interest holder has the power to direct the activities that most significantly impact the entity’s economic performance, and (3) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. When certain events occur, we reconsider whether we are the primary beneficiary of VIEs. We do not reconsider whether we are a primary beneficiary solely because of operating losses incurred by an entity.
	Effective June 1, 2014, the Company adopted the Financial Accounting Standards Board (the “FASB”) Accounting Standards Update (“ASU”) 2014-08 (“ASU 2014-08”), Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This ASU raises the threshold for disposals to qualify as discontinued operations by focusing on strategic shifts that have or will have a major effect on an entity’s operations and financial results. This ASU also allows companies to have significant continuing involvement and continuing cash flows with the disposed component and requires additional disclosures for discontinued operations and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. ASU 2014-08 applies prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date and should be applied prospectively. Early adoption of the guidance is permitted for new disposals (or new classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The adoption of ASU 2014-08 did not have a material impact on the Company’s consolidated financial statements.
	Use of Estimates
	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. While Aircastle believes that the estimates and related assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates.
	Proposed Accounting Pronouncements
	In May 2013, the FASB issued re-exposure draft, “Leases” (the “Lease Re-ED”), which would replace the existing guidance in the Accounting Standards Codification (“ASC”) 840 (“ASC 840”), Leases. In March 2014, the FASB decided that the accounting for leases by lessors would basically remain unchanged from the concepts existing in current ASC 840 accounting. In addition, the FASB decided that a lessor should be precluded from recognizing selling profit and revenue at lease commencement for any sales-type or direct finance lease that does not transfer control of the underlying asset to the lessee. This requirement aligns the notion of what constitutes a sale in the lessor accounting guidance with that in the forthcoming revenue recognition standard, which evaluates whether a sale has occurred from the customer’s perspective. We anticipate that the final standard may have an effective date no earlier than 2017. We believe that when and if the proposed guidance becomes effective, it will not have a material impact on the Company’s consolidated financial statements.
	On May 28, 2014, the FASB and the International Accounting Standards Board (the “IASB”) (collectively, the Boards), jointly issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). Lease contracts within the scope of ASC 840, Leases, are specifically excluded from ASU No. 2014-09. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. The standard is effective for public entities beginning after December 15, 2016. The standard allows for either “full retrospective” adoption, meaning the standard is applied to all of the periods presented, or “modified retrospective” adoption, meaning the standard is applied only to the most current period presented in the financial statements. The Company is currently evaluating its existing revenue recognition policies to determine the affect this new guidance will have on the Company’s consolidated financial statements.

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	Fair Value Measurements
	Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize use of unobservable inputs. These inputs are prioritized as follows:
	•	Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities.
	•	Level 2: Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities or market corroborated inputs.
	•	Level 3: Unobservable inputs for which there is little or no market data and which require us to develop our own assumptions about how market participants price the asset or liability.
	The valuation techniques that may be used to measure fair value are as follows:
	•	The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.
	•	The income approach uses valuation techniques to convert future amounts to a single present amount based on current market expectation about those future amounts.
	•	The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost).
	The following tables set forth our financial assets and liabilities as of December 31, 2013 and June 30, 2014 that we measured at fair value on a recurring basis by level within the fair value hierarchy. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement.
					Fair Value Measurements at December 31, 2013 Using Fair Value Hierarchy
		Fair Value as of December 31, 2013			Quoted Prices			Significant			Significant			Valuation
					In Active			Other			Unobservable			Technique
					Markets for			Observable			Inputs
					Identical			Inputs			(Level 3)
					Assets			(Level 2)
					(Level 1)
	Assets:
	Cash and cash equivalents	$	654,613		$	654,613		$	—		$	—		Market
	Restricted cash and cash equivalents	122,773			122,773			—			—			Market
	Total	$	777,386		$	777,386		$	—		$	—
	Liabilities:
	Derivative liabilities	$	39,992		$	—		$	39,992		$	—		Income
					Fair Value Measurements at June 30, 2014 Using Fair Value Hierarchy
		Fair Value as of June 30, 2014			Quoted Prices			Significant			Significant			Valuation
					In Active			Other			Unobservable			Technique
					Markets for			Observable			Inputs
					Identical			Inputs			(Level 3)
					Assets			(Level 2)
					(Level 1)
	Assets:
	Cash and cash equivalents	$	187,532		$	187,532		$	—		$	—		Market
	Restricted cash and cash equivalents	101,358			101,358			—			—			Market
	Total	$	288,890		$	288,890		$	—		$	—
	Liabilities:
	Derivative liabilities	$	4,757		$	—		$	4,757		$	—		Income
	Our cash and cash equivalents, along with our restricted cash and cash equivalents balances, consist largely of money market securities that are considered to be highly liquid and easily tradable. These securities are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within our fair value hierarchy. Our interest rate derivatives included in Level 2 consist of United States dollar-denominated interest rate derivatives, and their fair values are determined by applying standard modeling techniques under the income approach to relevant market interest rates (cash rates, futures rates, swap rates) in effect at the period close to determine appropriate reset and discount rates and incorporates an assessment of the risk of non-performance by the interest rate derivative counterparty in valuing derivative assets and an evaluation of the Company’s credit risk in valuing derivative liabilities.
	The following tables reflect the activity for the classes of our assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2013 and 2014, respectively:
		Assets
		Debt Investments
		Three Months Ended June 30,						Six Months Ended June 30, 2014
		2013			2014			2013			2014
	Balance at beginning of period	$	—		$	—		$	40,388		$	—
	Total gains/(losses), net:
	Included in other revenue	—			—			1,613			—
	Settlements	—			—			(42,001		)	—
	Balance at end of period	$	—		$	—		$	—		$	—
	For the three and six months ended June 30, 2013 and 2014, we had no transfers into or out of Level 3; however, we settled the debt investment during the first quarter of 2013.
	We measure the fair value of certain assets and liabilities on a non-recurring basis, when US GAAP requires the application of fair value, including events or changes in circumstances that indicate that the carrying amounts of assets may not be recoverable. Assets subject to these measurements include our investment in an unconsolidated joint venture and aircraft. We account for our investment in an unconsolidated joint venture under the equity method of accounting and record impairment when its fair value is less than its carrying value. We record aircraft at fair value when we determine the carrying value may not be recoverable. Fair value measurements for aircraft in impairment tests are based on an income approach which uses Level 3 inputs, which include the Company’s assumptions and appraisal data as to future cash proceeds from leasing and selling aircraft.
	Aircraft Valuation
	During the second quarter of 2014, we impaired two Boeing 747-400 converted freighters, one of which is off-lease and the other which has a scheduled lease expiry in December 2014. We intend to sell both aircraft rather than reinvest in further maintenance necessary for releasing, and we classified one as Flight Equipment Held for Sale in Other Assets on our consolidated Balance Sheet. For the off-lease aircraft, we recorded an impairment charge totaling $17,419 during the three months ended June 30, 2014. We previously recorded maintenance revenue of $3,853 and reversed lease incentives of $857 during the three months ended December 31, 2013 when this aircraft was returned to us. For the aircraft with a scheduled lease expiry in December 2014, we recorded an impairment charge totaling $10,723 and recorded maintenance revenue of $5,986 and reversed lease incentives of $3,626 during the six months ended June 30, 2014.
	During the first quarter of 2014, we impaired two aircraft, one Boeing 737-400, which was returned to us as scheduled by the lessee and one Boeing 747-400 converted freighter, for which we agreed to an early lease termination with our customer. For these two aircraft, we recorded impairment charges totaling $18,263 and recorded maintenance revenue of $17,176 during the three months ended March 31, 2014.
	During the first quarter of 2013, we impaired two aircraft, one Airbus A319-100 aircraft and one Boeing 767-300ER aircraft, each of which was returned to us early by the respective lessee. For these two aircraft, we recorded impairment charges totaling $6,199 and recorded maintenance revenue of $9,019 and other revenue of $876 during the six months ended June 30, 2013.
	Financial Instruments
	Our financial instruments, other than cash, consist principally of cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable, amounts borrowed under financings and interest rate derivatives. The fair value of cash, cash equivalents, restricted cash and cash equivalents, accounts receivable and accounts payable approximates the carrying value of these financial instruments because of their short-term nature.
	The fair value of our Securitization, which contains a third party credit enhancement, is estimated using a discounted cash flow analysis, based on our current incremental borrowing rates of borrowing arrangements that do not contain third party credit enhancements. The fair values of our ECA term financings and bank financings are estimated using a discounted cash flow analysis, based on our current incremental borrowing rates for similar types of borrowing arrangements. The fair value of our Senior Notes is estimated using quoted market prices.
	The carrying amounts and fair values of our financial instruments at December 31, 2013 and June 30, 2014 are as follows:
		December 31, 2013						June 30, 2014
		Carrying  Amount			Fair Value			Carrying  Amount			Fair Value
		of Asset			of Asset			of Asset			of Asset
		(Liability)			(Liability)			(Liability)			(Liability)
	Securitizations	$	(828,871	)	$	(779,901	)	$	(497,001	)	$	(466,589	)
	ECA term financings	(493,708		)	(506,227		)	(471,978		)	(494,552		)
Bank financings	(264,256		)	(268,435		)	(583,514		)	(589,012		)
Senior Notes	(2,150,527		)	(2,325,965		)	(2,200,000		)	(2,396,401		)
All of our financial instruments are classified as Level 2 with the exception of our Senior Notes, which are classified as Level 1.

Lease_Rental_Revenues_and_Flig

Lease Rental Revenues and Flight Equipment Held for Lease	6 Months Ended
	Jun. 30, 2014
Leases [Abstract]	'
Lease Rental Revenues and Flight Equipment Held for Lease	'
	Lease Rental Revenues and Flight Equipment Held for Lease
	Minimum future annual lease rentals contracted to be received under our existing operating leases of flight equipment at June 30, 2014 were as follows:
	Year Ending December 31,	Amount
	Remainder of 2014	$	356,704
	2015	672,220
	2016	588,472
	2017	449,088
	2018	326,299
	Thereafter	883,681
	Total	$	3,276,464
	Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows:
		Three Months Ended June 30,						Six Months Ended June 30,
	Region	2013			2014			2013		2014
	Europe	33	%		28	%		33	%	29	%
	Asia and Pacific	38	%		38	%		38	%	40	%
	North America	9	%		10	%		9	%	10	%
	South America	9	%		15	%		9	%	12	%
	Middle East and Africa	11	%		9	%		11	%	9	%
	Total	100	%		100	%		100	%	100	%
	The classification of regions in the tables above and in the table and discussion below is determined based on the principal location of the lessee of each aircraft.
	For the three months ended June 30, 2013, one customer accounted for 8% of lease rental revenue and four additional customers accounted for a combined 23% of lease rental revenue. No other customer accounted for more than 5% of lease rental revenue. For the three months ended June 30, 2014, one customer accounted for 9% of lease rental revenue and an additional two customers separately accounted for 11% of lease rental revenue. No other customer accounted for more than 5% of lease rental revenue.
	For the six months ended June 30, 2013, one customer accounted for 8% of lease rental revenue and four additional customers accounted for a combined 23% of lease rental revenue. No other customer accounted for more than 5% of lease rental revenue. For the six months ended June 30, 2014, one customer accounted for 6% of lease rental revenue and an additional two customers separately accounted for 10% of lease rental revenue. No other customer accounted for more than 5% of lease rental revenue.
	The following table sets forth revenue attributable to individual countries representing at least 10% of total revenue (including maintenance revenue) based on each lessee’s principal place of business:
		Three Months Ended June 30,
		2013									2014
	Country	Revenue				Percent of			Number		Revenue		Percent of		Number
						Total			of				Total		of
						Revenue			Lessees				Revenue		Lessees
	India(1) (3)	$	—			—	%		—		$	25,707	11	%	1
	United States(2) (3)	—				—	%		—		24,390		11	%	5
	China(4)	17,610				10	%		4		$	—	—	%	—
	(1) Total revenue for the three months ended June 30, 2014 includes $19,582 of maintenance revenue related to scheduled lease terminations.
	(2) Total revenue for the three months ended June 30, 2014 includes $5,986 of maintenance revenue related to aircraft impairment.
	(3) Total revenue was less than 10% for the three months ended June 30, 2013.
	(4) Total revenue was less than 10% for the three months ended June 30, 2014.
		Six Months Ended June 30,
		2013									2014
	Country	Revenue				Percent of			Number		Revenue		Percent of		Number
						Total			of				Total		of
						Revenue			Lessees				Revenue		Lessees
	China(1)	$	36,913			11	%		4		—		—	%	—
	United States(1)	33,002				10	%		7		$	—	—	%	—
	(1) Total revenue was less than 10% for the six months ended June 30, 2014.
	Geographic concentration of net book value of flight equipment (includes net book value of flight equipment held for lease and net investment in finance leases) was as follows:
		December 31, 2013						June 30, 2014
	Region	Number			Net Book			Number		Net Book
		of			Value %			of		Value %
		Aircraft						Aircraft(1)
	Europe	64			30	%		62		27	%
	Asia and Pacific	56			41	%		46		40	%
	North America	19			10	%		21		9	%
	South America	14			7	%		13		14	%
	Middle East and Africa	7			11	%		6		10	%
	Off-lease	2		(2)	1	%		—		—	%
	Total	162			100	%		148		100	%
	_______________
	-1	At June 30, 2014, excludes two aircraft classified as Flight Equipment Held for Sale.
	-2	Consisted of two Boeing 747-400 converted freighter aircraft, one of which was subject to a commitment to lease and was delivered to our customer in the first quarter of 2014 and the other is included in Flight Equipment Held for Sale.
	At December 31, 2013 and June 30, 2014, no country represented at least 10% of net book value of flight equipment based on each lessee’s principal place of business.
	At December 31, 2013 and June 30, 2014, the amounts of lease incentive liabilities recorded in maintenance payments on the consolidated balance sheets were $28,611 and $26,742, respectively.

Net_Investment_in_Finance_Leas

Net Investment in Finance Leases	6 Months Ended
	Jun. 30, 2014
Leases [Abstract]	'
Net Investment in Finance Leases	'
	Net Investment in Finance Leases
	At June 30, 2014, our net investment in finance leases represents four aircraft leased to two customers in the United States, one aircraft leased to a customer in Canada and one aircraft leased to a customer in Croatia. The following table lists the components of our net investment in finance leases at June 30, 2014:
		Amount
	Total lease payments to be received	$	57,971
	Less: Unearned income	(18,630		)
	Estimated residual values of leased flight equipment (unguaranteed)	33,259
	Net investment in finance leases	$	72,600
	At June 30, 2014, minimum future lease payments on finance leases are as follows:
	Year Ending December 31,	Amount
	Remainder of 2014	$	6,466
	2015	12,889
	2016	12,889
	2017	11,974
	2018	4,080
	Thereafter	9,673
	Total	$	57,971

Unconsolidated_Equity_Method_I

Unconsolidated Equity Method Investment (Notes)	6 Months Ended
	Jun. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Unconsolidated Equity Method Investment	'
	Unconsolidated Equity Method Investment
	On December 19, 2013, the Company formed a joint venture to invest in leased aircraft with an affiliate of Ontario Teachers’ Pension Plan (“Teachers’ “) in which we have a 30% equity interest. Teachers’ holds more than 5% of our common shares. Accordingly, the formation of the joint venture and the sale of the A330 aircraft to the joint venture was submitted to, and approved by, our Audit Committee in December of 2013 under our related party policy. The assets and liabilities of this joint venture are off our balance sheet and we only record our net investment under the equity method of accounting.
	While the Company has no obligation to make additional investments in the joint venture, we have agreed to return to the joint venture any portion of distributions from the joint venture which comprise lessee maintenance payments, to the extent that the joint venture must reimburse such maintenance payments to the lessee. The Company has recorded a $2,141 guarantee liability which is reflected in Maintenance payments on the balance sheet.
	Investment in joint venture at December 31, 2013	$	21,123
	Investment in joint venture	1,418
	Earnings from joint venture, net of tax	971
	Distributions	(1,674		)
	Investment in joint venture at June 30, 2014	$	21,838

Variable_Interest_Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2014
Variable Interest Entities [Abstract]	'
Variable Interest Entities	'
	Variable Interest Entities
	Aircastle consolidates seven VIEs of which it is the primary beneficiary. The operating activities of these VIEs are limited to acquiring, owning, leasing, maintaining, operating and, under certain circumstances, selling the 15 aircraft discussed below.
	Securitizations
	In connection with Securitization No. 1, two of our subsidiaries, ACS Aircraft Finance Ireland plc (“ACS Ireland”) and ACS Aircraft Finance Bermuda Limited (“ACS Bermuda”) issued Class A-1 notes, and each has fully and unconditionally guaranteed the other’s obligations under the notes. In connection with Securitization No. 2, two of our subsidiaries, ACS Aircraft Finance Ireland 2 Limited (“ACS Ireland 2”) and ACS 2007-1 Limited (“ACS Bermuda 2”) issued Class A-1 notes and each has fully and unconditionally guaranteed the other’s obligations under the notes. ACS Ireland and ACS Ireland 2 are collectively referred to as the “ACS Ireland VIEs”. In February 2014, we repaid the outstanding amount plus accrued interest and fees due under Securitization No. 1 and ACS Ireland became a wholly owned subsidiary of Aircastle.
	Aircastle is the primary beneficiary of ACS Ireland 2, as we have both the power to direct the activities of the VIE that most significantly impacts the economic performance of such VIE and we bear the significant risk of loss and participate in gains through Class E-1 Securities. Although Aircastle has not guaranteed the ACS Ireland 2 debt, Aircastle wholly owns ACS Bermuda 2 which has fully and unconditionally guaranteed the ACS Ireland 2 VIE obligations. The activity that most significantly impacts the economic performance is the leasing of aircraft. Aircastle Advisor (Ireland) Limited (Aircastle’s wholly owned subsidiary) is the remarketing servicer and is responsible for the leasing of the aircraft. An Irish charitable trust owns 95% of the common shares of ACS Ireland 2. The Irish charitable trust’s risk is limited to its annual dividend of $2. At June 30, 2014, the assets of ACS Ireland 2 include seven aircraft transferred into the VIE at historical cost basis in connection with Securitization No. 2.
	The assets of the ACS Ireland 2 as of June 30, 2014 are $189,908. The liabilities of the ACS Ireland 2, net of $40,351 Class E-1 Securities held by the Company, which is eliminated in consolidation, as of June 30, 2014 are $155,415.
	ECA Term Financings
	Aircastle, through various subsidiaries, each of which is owned by a charitable trust (such entities, collectively the “Air Knight VIEs”), has entered into eight different twelve-year term loans, which are supported by guarantees from Compagnie Francaise d’ Assurance pour le Commerce Exterieur, (“COFACE”), the French government sponsored export credit agency (“ECA”). We refer to these COFACE-supported financings as “ECA Term Financings.”
	Aircastle is the primary beneficiary of the Air Knight VIEs, as we have the power to direct the activities of the VIEs that most significantly impact the economic performance of such VIEs and we bear the significant risk of loss and participate in gains through a finance lease. The activity that most significantly impacts the economic performance is the leasing of aircraft of which our wholly owned subsidiary is the servicer and is responsible for managing the relevant aircraft. There is a cross collateralization guarantee between the Air Knight VIEs. In addition, Aircastle guarantees the debt of the Air Knight VIEs.
	The only assets that the Air Knight VIEs have on their books are financing leases that are eliminated in the consolidated financial statements and deferred financing costs. The related aircraft, with a net book value as of June 30, 2014 of $656,434 were included in our flight equipment held for lease. The consolidated debt outstanding of the Air Knight VIEs as of June 30, 2014 is $471,978.

Secured_and_Unsecured_Debt_Fin

Secured and Unsecured Debt Financings	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Secured and Unsecured Debt Financings	'
	Secured and Unsecured Debt Financings
	The outstanding amounts of our secured and unsecured term debt financings were as follows:
		At December 31, 2013				At June 30, 2014
	Debt Obligation	Outstanding				Outstanding				Interest Rate(1)	Final Stated
		Borrowings				Borrowings					Maturity(2)
	Secured Debt Financings:
	Securitization No. 1(3)	$	225,034			$	—			—%	—
	Securitization No. 2	603,837				497,001				0.46%	6/14/37
	ECA Term Financings	493,708				471,978				3.02% to 3.96%	12/3/21 to 11/30/24
	Bank Financings	264,256				583,514				1.05% to 5.09%	09/15/15 to 04/19/25
	Total secured debt financings	1,586,835				1,552,493
	Unsecured Debt Financings:
	Senior Notes due 2017	500,000				500,000				6.75%	4/15/17
	Senior Notes due 2018(4)	450,527				—				—%	—
	Senior Notes due 2018	400,000				400,000				4.63%	12/5/18
	Senior Notes due 2019	500,000				500,000				6.25%	12/1/19
	Senior Notes due 2020	300,000				300,000				7.63%	4/15/20
	Senior Notes due 2021	—				500,000				5.13%	3/15/21
	2014 Revolving Credit Facility(5)	—				—				N/A	3/31/18
	Total unsecured debt financings	2,150,527				2,200,000
	Total secured and unsecured debt financings	$	3,737,362			$	3,752,493
	-1	Reflects the floating rate in effect at the applicable reset date plus the margin for Securitization No. 2 and six of our Bank Financings. All other financings have a fixed rate.
	-2	For Securitization No. 2, all cash flows available after expenses and interest are applied to debt amortization.
	-3	In February 2014, we repaid the outstanding amount plus accrued interest and fees due under Securitization No. 1 and terminated the related interest rate derivative, for a total cash payment of $255,186, with proceeds from our December 2013 issuance of our Senior Notes due 2018.
	-4	Proceeds from the issuance of our Senior Notes due 2021 were used to pay-off the balance of our 9.75% Senior Notes due 2018 plus accrued interest of $10,238 and the call premium of $32,835 on April 25, 2014.
	-5	On March 31, 2014, we amended and restructured our existing $335,000 2013 Revolving Credit Facility with a new unsecured revolving credit facility (the “2014 Revolving Credit Facility”).  The 2014 Revolving Credit Facility was increased to $450,000, has a term of four years and is scheduled to expire in March 2018 and was undrawn at June 30, 2014.
	The following Securitization includes a liquidity facility commitment described in the table below:
				Available Liquidity
	Facility	Liquidity Facility Provider		December 31,				June 30,			Unused	Interest Rate
				2013				2014			Fee	on any Advances
	Securitization No. 2	HSH Nordbank AG		$	65,000			$	65,000		0.50%	1M Libor + 0.75
	Secured Debt Financings:
	Securitizations
	In February 2014, we repaid the outstanding amount plus accrued interest and fees due under Securitization No.1 and terminated the related interest rate derivative, for a total cash payment of $255,186, with proceeds from our December 2013 issuance of our Senior Notes due 2018.
	Bank Financings
	In February 2014, we entered into two floating rate loans and one fixed rate loan totaling $303,200 secured by two Boeing 777-300ER aircraft and one Airbus A330-200 aircraft we acquired in 2013. In March 2014, we assumed two floating rate loans totaling $40,809 in connection with the acquisition of two Boeing 737-800 aircraft.
	We include these loan facilities in “Bank Financings”. Aircastle Limited has guaranteed the repayment of these Bank Financings.
	Unsecured Debt Financings:
	Senior Notes due 2021
	On March 26, 2014, Aircastle Limited issued $500,000 aggregate principal amount of Senior Notes due 2021 (the “2021 Senior Notes”). The 2021 Senior Notes will mature on March 15, 2021 and bear interest at the rate of 5.125% per annum, payable semi-annually on March 15 and September 15 of each year, commencing on September 15, 2014. Interest will accrue on the 2021 Senior Notes from March 26, 2014. Proceeds from the issuance were used to pay-off the outstanding amount of our 9.75% Senior Notes due 2018 plus accrued interest of $10,238, and the call premium of $32,835 on April 25, 2014. We also wrote off $3,735 of debt issuance costs associated with the pay-off of the Senior Notes due 2018. Both the call premium and the write-off of debt issuance costs are included in Other income (expense) - Loss on Extinguishment of Debt on our consolidated statement of income.
	2014 Revolving Credit Facility
	On March 31, 2014, we amended and restructured our existing $335,000 2013 Revolving Credit Facility with the 2014 Revolving Credit Facility.  The 2014 Revolving Credit Facility was increased to $450,000, has a term of four years and is scheduled to expire in March 2018.
	As of June 30, 2014, we are in compliance with all applicable covenants in all of our financings.

Dividends

Dividends	6 Months Ended
	Jun. 30, 2014
Dividends [Abstract]	'
Dividends	'
	Dividends
	The following table sets forth the quarterly dividends declared by our board of directors for the periods covered in this report:
	Declaration Date	Dividend		Aggregate		Record Date	Payment Date
		per Common		Dividend
		Share		Amount
	February 18, 2013	$	0.165	$	11,268	March 4, 2013	March 15, 2013
	May 1, 2013	$	0.165	$	11,297	May 31, 2013	June 14, 2013
	August 2, 2013	$	0.165	$	13,330	August 30, 2013	September 13, 2013
	October 29, 2013	$	0.2	$	16,163	November 29, 2013	December 13, 2013
	February 21, 2014	$	0.2	$	16,201	March 7, 2014	March 14, 2014
	May 5, 2014	$	0.2	$	16,202	May 30, 2014	June 13, 2014

Earnings_Per_Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	Earnings Per Share
	We include all common shares granted under our incentive compensation plan which remain unvested (“restricted common shares”) and contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid (“participating securities”), in the number of shares outstanding in our basic earnings per share calculations using the two-class method. All of our restricted common shares are currently participating securities.
	Under the two-class method, earnings per common share is computed by dividing the sum of distributed earnings allocated to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. In applying the two-class method, distributed and undistributed earnings are allocated to both common shares and restricted common shares based on the total weighted average shares outstanding during the period as follows:
		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2014			2013			2014
	Weighted-average shares:
	Common shares outstanding	67,828,919			80,389,996			67,862,513			80,388,691
	Restricted common shares	631,368			643,590			508,288			572,452
	Total weighted-average shares	68,460,287			81,033,586			68,370,801			80,961,143
	Percentage of weighted-average shares:
	Common shares outstanding	99.08	%		99.21	%		99.26	%		99.29	%
	Restricted common shares	0.92	%		0.79	%		0.74	%		0.71	%
	Total	100	%		100	%		100	%		100	%
	The calculations of both basic and diluted earnings per share are as follows:
		Three Months Ended June 30,								Six Months Ended June 30,
		2013				2014				2013			2014
	Earnings per share – Basic:
	Net income	$	32,854			$	3,136			$	55,918		$	8,913
	Less: Distributed and undistributed earnings allocated to restricted common shares (a)	(303		)		(25		)		(416		)	(63		)
	Earnings available to common shareholders – Basic	$	32,551			$	3,111			$	55,502		$	8,850
	Weighted-average common shares outstanding – Basic	67,828,919				80,389,996				67,862,513			80,388,691
	Earnings per common share – Basic	$	0.48			$	0.04			$	0.82		$	0.11
	Earnings per share – Diluted:
	Net income	$	32,854			$	3,136			$	55,918		$	8,913
	Less: Distributed and undistributed earnings allocated to restricted common shares(a)	(303		)		(25		)		(416		)	(63		)
	Earnings available to common shareholders – Diluted	$	32,551			$	3,111			$	55,502		$	8,850
	Weighted-average common shares outstanding – Basic	67,828,919				80,389,996				67,862,513			80,388,691
	Effect of dilutive shares(b)	—				—				—			—
	Weighted-average common shares outstanding – Diluted	67,828,919				80,389,996				67,862,513			80,388,691
	Earnings per common share – Diluted	$	0.48			$	0.04			$	0.82		$	0.11
	(a)	For the three months ended June 30, 2013 and 2014, distributed and undistributed earnings to restricted shares is 0.92% and 0.79% of net income. For the six months ended June 30, 2013 and 2014, distributed and undistributed earnings to restricted shares is 0.74% and 0.71% of net income. The amount of restricted share forfeitures for all periods present is immaterial to the allocation of distributed and undistributed earnings.
	(b)	For the three and six months ended June 30, 2013 and 2014, we had no dilutive shares.

Income_Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	Income taxes have been provided for based upon the tax laws and rates in countries in which our operations are conducted and income is earned. The Company received an assurance from the Bermuda Minister of Finance that it would be exempted from local income, withholding and capital gains taxes until March 2035. Consequently, the provision for income taxes relates to income earned by certain subsidiaries of the Company which are located in, or earn income in, jurisdictions that impose income taxes, primarily Ireland, Singapore and the United States.
	The sources of income from continuing operations before income taxes and earnings of unconsolidated equity method investment for the three and six months ended June 30, 2013 and 2014 were as follows:
		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2014			2013			2014
	U.S. operations	$	791		$	756		$	1,196		$	1,521
	Non-U.S. operations	35,795			8,417			62,038			13,862
	Total	$	36,586		$	9,173		$	63,234		$	15,383
	All of our aircraft-owning subsidiaries that are recognized as corporations for U.S. tax purposes are non-U.S. corporations. These non-U.S. subsidiaries generally earn income from sources outside the United States and typically are not subject to U.S. federal, state or local income taxes unless they operate within the U.S., in which case they may be subject to federal, state and local income taxes. The aircraft owning subsidiaries resident in Ireland, Mauritius and Singapore are subject to tax in those respective jurisdictions.
	We have a U.S. based subsidiary which provides management services to our non-U.S. subsidiaries and is subject to U.S. federal, state and local income taxes. We also have Ireland and Singapore based subsidiaries which provide management services to our non-U.S. subsidiaries and are subject to tax in those respective jurisdictions.
	The consolidated income tax expense for the three and six months ended June 30, 2013 and 2014 was determined based upon estimates of the Company’s consolidated effective income tax rates for the years ending December 31, 2013 and 2014, respectively.
	The Company’s effective tax rate for the three and six months ended June 30, 2013 was 10.2% and 11.6% respectively, compared to 71.5% and 48.4% respectively, for the three and six months ended June 30, 2014. Movements in the effective tax rates are generally caused by changes in the proportion of the Company’s pre-tax earnings in taxable and non-tax jurisdictions. For the six months ended June 30, 2014, the interim period effective tax rate reflects the loss on extinguishment of debt in the amount of $36,570 related to Bermuda operations, which was treated as a discrete item with no tax benefit.
	Differences between statutory income tax rates and our effective income tax rates applied to pre-tax income consisted of the following:
		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2014			2013			2014
	Notional U.S. federal income tax expense (benefit) at the statutory rate	$	12,805		$	3,211		$	22,132		$	5,384
	U.S. state and local income tax, net	52			40			86			119
	Non-U.S. operations:
	Bermuda	(8,989		)	2,811			(12,865		)	6,240
	Ireland	410			2,537			(491		)	(752		)
	Singapore	171			(1,282		)	147			(2,477		)
	Other	(806		)	(771		)	(1,876		)	(1,369		)
	Non-deductible expenses in the U.S.	97			19			199			318
	Other	(8		)	(7		)	(16		)	(22		)
	Income tax provision	$	3,732		$	6,558		$	7,316		$	7,441

Interest_Net

Interest, Net	6 Months Ended
	Jun. 30, 2014
Interest Income (Expense), Net [Abstract]	'
Interest Net	'
	Interest, Net
	The following table shows the components of interest, net:
		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2014			2013			2014
	Interest on borrowings, net settlements on interest rate derivatives, and other liabilities (1)	$	50,823		$	48,172		$	99,414		$	99,857
	Hedge ineffectiveness losses	(24		)	6			104			59
	Amortization of interest rate derivatives related to deferred losses	9,711			8,854			17,985			18,181
	Amortization of deferred financing fees (2)	6,346			3,567			8,781			6,987
	Interest Expense	66,856			60,599			126,284			125,084
	Less interest income	(200		)	(105		)	(476		)	(327		)
	Interest, net	$	66,656		$	60,494		$	125,808		$	124,757
	(1) For the three and six months ended June 30, 2013, includes the loan termination fee of $2,954 related to two ECA aircraft sold in June 2013.
	(2) For the three and six months ended June 30, 2013, includes the write-off of deferred financings fees of $3,825 related to the repayment of two ECA Financings.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	At June 30, 2014, we had commitments to acquire seven aircraft for $490,155. Three aircraft are mid-aged, current technology narrow-bodies which we expect will close during the third quarter of 2014. The other four aircraft are Boeing 777-300ERs to be purchased from and leased back to LATAM once the existing financings are repaid. We now expect this transaction to be completed during the first half of 2015.

Derivatives

Derivatives

6 Months Ended

Jun. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

'

Derivatives

'

Derivatives

The objective of our hedging policy is to adopt a risk averse position with respect to changes in interest rates. Accordingly, we have entered into a number of interest rate derivatives to hedge the current and expected future interest rate payments on our variable rate debt. Interest rate derivatives are agreements in which a series of interest rate cash flows are exchanged with a third party over a prescribed period. The notional amount on an interest rate derivative is not exchanged. Our interest rate derivatives typically provide that we make fixed rate payments and receive floating rate payments to convert our floating rate borrowings to fixed rate obligations to better match the largely fixed rate cash flows from our investments in flight equipment.

We held the following interest rate derivatives as of June 30, 2014:

Derivative Liabilities

Hedged Item

Current

Effective

Maturity

Future

Floating

Fixed

Balance Sheet

Fair

Notional

Date

Date

Maximum

Rate

Rate

Location

Value

Amount

Notional

Amount

Interest rate derivatives designated as cash flow hedges:

Securitization No. 2

$

422,276

12-Jun

17-Jun

$

422,276

1M LIBOR

1.26%

Fair value of

$

4,757

to

derivative

1.28%

liabilities

In connection with the repayment of Securitization No. 1., two interest rate derivatives hedging the facility were terminated on February 18, 2014, resulting in a net deferred loss of $26,863 which is being amortized into interest expense using the effective interest method over the original hedge term.

The weighted average interest pay rates of these derivatives at December 31, 2013 and June 30, 2014 were 3.03% and 1.27%, respectively.

For the six months ended June 30, 2014, the amount of loss reclassified from accumulated other comprehensive income (“OCI”) into interest expense related to net interest settlements on active interest rate derivatives was $4,044. The amount of loss expected to be reclassified from OCI into interest expense over the next 12 months related to net interest settlements on active interest rate derivatives is $5,319.

Our interest rate derivatives involve counterparty credit risk. As of June 30, 2014, our interest rate derivatives are held with JP Morgan Chase Bank NA and Wells Fargo Bank NA. Both of our counterparties or guarantors of these counterparties are considered investment grade (senior unsecured ratings of Aa3 or above) by Moody’s Investors Service. Both are also considered investment grade (long-term foreign issuer ratings of AA- or above) by Standard and Poor’s. We do not anticipate that either of these counterparties will fail to meet their obligations.

In addition to the derivative liability above, another component of the fair value of our interest rate derivatives is accrued interest. As of June 30, 2014, accrued interest payable included in accounts payable, accrued expenses, and other liabilities on our consolidated balance sheet was $289 related to interest rate derivatives designated as cash flow hedges.

Following is the effect of interest rate derivatives on the statement of financial performance for the six months ended June 30, 2014:

Effective Portion

Ineffective Portion

Derivatives in

Amount of

Location of

Amount of

Location of

Amount of

ASC 815

Gain or (Loss)

Gain or (Loss)

Gain or (Loss)

Gain or (Loss)

Gain or (Loss)

Cash Flow

Recognized in

Reclassified from

Reclassified from

Recognized in

Recognized in

Hedging

OCI on

Accumulated

Accumulated

Income on Derivative

Income on

Relationships

Derivative

OCI into Income

OCI into Income (b)

Derivative

(a)

(c)

Interest rate derivatives

($3,577)

Interest expense

($22,140)

Interest expense

($62)

(a)

This represents the change in fair market value of our interest rate derivatives since year end, net of taxes, offset by the amount of actual cash paid related to the net settlements of the interest rate derivatives for the six months ended June 30, 2014.

(b)

This represents the amount of actual cash paid, net of taxes, related to the net settlements of the interest rate derivatives for the six months ended June 30, 2014 plus any effective amortization of net deferred interest rate derivative losses.

(c)

This represents both realized and unrealized ineffectiveness incurred during the six months ended June 30, 2014.

Derivatives Not Designated as Hedging Instruments under ASC 815

Location of Gain

Amount of Gain

or (Loss)

or (Loss)

Recognized in Income

Recognized in Income on

On Derivative

Derivative

Interest rate derivatives

Other income (expense)

$

681

On an ongoing basis, terminated interest rate derivative notionals are evaluated against debt forecasts. To the extent that interest payments are deemed remote to occur, deferred gains or losses are accelerated into interest expense as applicable.

For the six months ended June 30, 2014, the amount of deferred net loss reclassified from OCI into interest expense related to our terminated interest rate derivatives was $17,633. The amount of deferred net loss expected to be reclassified from OCI into interest expense over the next 12 months related to our terminated interest rate derivatives is $30,924, of which $11,313 relates to Term Financing No. 1 interest rate derivatives terminated in 2012, $11,211 relates to Securitization No. l interest rate derivatives terminated in 2014, $5,890 relates to ECA Term Financings for New A330 Aircraft, $1,283 relates to other financings and $1,227 relates to Term Financing No. 1 derivatives terminated in 2008.

For the six months ended June 30, 2014, the amount of effective deferred loss reclassified from OCI into interest expense related to our designated active interest rate derivative was $548.

The following table summarizes amounts charged directly to the consolidated statement of income for the three and six months ended June 30, 2013 and 2014, respectively, related to our interest rate derivatives:

Three Months Ended June 30,

Six Months Ended June 30,

2013

2014

2013

2014

Interest expense:

Hedge ineffectiveness losses

$

(24

)

$

6

$

104

$

59

Amortization:

Accelerated amortization of deferred losses (1)

2,027

3

2,027

3

Amortization of loss on designated interest rate derivative

404

—

745

548

Amortization of deferred losses

7,280

8,851

15,213

17,630

Total Amortization

9,711

8,854

17,985

18,181

Total charged to interest expense

$

9,687

$

8,860

$

18,089

$

18,240

Other income:

Mark to market gains on undesignated interest rate derivatives

$

1,657

$

—

$

2,872

$

681

Total charged to other income

$

1,657

$

—

$

2,872

$

681

(1) For the three and six months ended June 30, 2013, represents accelerated amortization of deferred hedge losses related to two aircraft sold in June 2013.

Other_Assets

Other Assets	6 Months Ended
	Jun. 30, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]	'
Other Assets	'
	Other Assets
	The following table describes the principal components of other assets on our consolidated balance sheet as of:
		December 31,		June 30,
		2013		2014
	Deferred debt issuance costs, net of amortization of $61,104 and $46,996, respectively	$	52,464	$	57,848
	Deferred federal income tax asset	1,218		1,046
	Lease incentives and lease premiums, net of amortization of $41,136 and $21,722, respectively	72,181		62,119
	Flight equipment held for sale	9,474		36,939
	Aircraft purchase deposits	10,000		3,000
	Other assets	8,639		18,280
	Total other assets	$	153,976	$	179,232

Accounts_Payable_Accrued_Expen

Accounts Payable, Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2014
Payables and Accruals [Abstract]	'
Accounts Payable, Accrued Expenses and Other Liabilities	'
	Accounts Payable, Accrued Expenses and Other Liabilities
	The following table describes the principal components of accounts payable, accrued expenses and other liabilities recorded on our consolidated balance sheet as of:
		December 31,		June 30,
		2013		2014
	Accounts payable and accrued expenses	$	30,204	$	21,005
	Deferred federal income tax liability	33,178		38,864
	Accrued interest payable	39,213		27,133
	Lease discounts, net of amortization of $6,458 and $4,900 respectively	9,066		44,673
	Total accounts payable, accrued expenses and other liabilities	$	111,661	$	131,675

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Notes)	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Accumulated Other Comprehensive Loss	'
	Accumulated Other Comprehensive Loss
	The following table describes the principal components of accumulated other comprehensive loss recorded on our consolidated balance sheet as of:
	Changes in accumulated other comprehensive loss by component(a)	Three Months Ended June 30, 2014			Six Months Ended June 30, 2014
	Beginning balance	$	(66,208	)	$	(75,905	)
	Amount recognized in other comprehensive loss on derivatives, net of tax benefit of $15 and tax expense of $721, respectively	(1,197		)	(3,577		)
	Amounts reclassified from accumulated other comprehensive loss into income, net of tax expense of $15 and $83, respectively	10,063			22,140
	Net current period other comprehensive income	8,866			18,563
	Ending balance	$	(57,342	)	$	(57,342	)
	(a) All amounts are net of tax. Amounts in parentheses indicate debits.
	Reclassifications from accumulated other comprehensive loss(a)	Three Months Ended June 30, 2014			Six Months Ended June 30, 2014
	Amount of effective amortization of net deferred interest rate derivative losses(b)	$	8,854		$	18,181
	Effective amount of net settlements of interest rate derivatives, net of tax expense of $15 and $83, respectively(b)	1,209			3,959
	Amount of loss reclassified from accumulated other comprehensive loss into income(c)	$	10,063		$	22,140
	(a) All amounts are net of tax.
	(b) Included in interest expense.
	(c) This represents the effective amounts of actual cash paid related to the net settlements of the interest rate derivatives plus any effective amortization of net deferred interest rate derivative losses (see Note 13. - Derivatives).

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Organization and Basis of Presentation	'
	Aircastle is a holding company that conducts its business through subsidiaries. Aircastle directly or indirectly owns all of the outstanding common shares of its subsidiaries. The consolidated financial statements presented are prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”). We operate in one segment.
	The accompanying consolidated financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting and, in our opinion, reflect all adjustments, including normal recurring items, which are necessary to present fairly the results for interim periods. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the entire year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with US GAAP have been omitted in accordance with the rules and regulations of the SEC; however, we believe that the disclosures are adequate to make information presented not misleading. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
Principles of Consolidation	'
	The consolidated financial statements include the accounts of Aircastle and all of its subsidiaries. Aircastle consolidates seven Variable Interest Entities (“VIEs”) of which Aircastle is the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation.
	We consolidate VIEs in which we have determined that we are the primary beneficiary. We use judgment when deciding (a) whether an entity is subject to consolidation as a VIE, (b) who the variable interest holders are, (c) the potential expected losses and residual returns of the variable interest holders, and (d) which variable interest holder is the primary beneficiary. When determining which enterprise is the primary beneficiary, we consider (1) the entity’s purpose and design, (2) which variable interest holder has the power to direct the activities that most significantly impact the entity’s economic performance, and (3) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. When certain events occur, we reconsider whether we are the primary beneficiary of VIEs. We do not reconsider whether we are a primary beneficiary solely because of operating losses incurred by an entity.
	Effective June 1, 2014, the Company adopted the Financial Accounting Standards Board (the “FASB”) Accounting Standards Update (“ASU”) 2014-08 (“ASU 2014-08”), Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This ASU raises the threshold for disposals to qualify as discontinued operations by focusing on strategic shifts that have or will have a major effect on an entity’s operations and financial results. This ASU also allows companies to have significant continuing involvement and continuing cash flows with the disposed component and requires additional disclosures for discontinued operations and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. ASU 2014-08 applies prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date and should be applied prospectively. Early adoption of the guidance is permitted for new disposals (or new classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The adoption of ASU 2014-08 did not have a material impact on the Company’s consolidated financial statements.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. While Aircastle believes that the estimates and related assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Proposed Accounting Pronouncements
	In May 2013, the FASB issued re-exposure draft, “Leases” (the “Lease Re-ED”), which would replace the existing guidance in the Accounting Standards Codification (“ASC”) 840 (“ASC 840”), Leases. In March 2014, the FASB decided that the accounting for leases by lessors would basically remain unchanged from the concepts existing in current ASC 840 accounting. In addition, the FASB decided that a lessor should be precluded from recognizing selling profit and revenue at lease commencement for any sales-type or direct finance lease that does not transfer control of the underlying asset to the lessee. This requirement aligns the notion of what constitutes a sale in the lessor accounting guidance with that in the forthcoming revenue recognition standard, which evaluates whether a sale has occurred from the customer’s perspective. We anticipate that the final standard may have an effective date no earlier than 2017. We believe that when and if the proposed guidance becomes effective, it will not have a material impact on the Company’s consolidated financial statements.
	On May 28, 2014, the FASB and the International Accounting Standards Board (the “IASB”) (collectively, the Boards), jointly issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). Lease contracts within the scope of ASC 840, Leases, are specifically excluded from ASU No. 2014-09. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. The standard is effective for public entities beginning after December 15, 2016. The standard allows for either “full retrospective” adoption, meaning the standard is applied to all of the periods presented, or “modified retrospective” adoption, meaning the standard is applied only to the most current period presented in the financial statements. The Company is currently evaluating its existing revenue recognition policies to determine the affect this new guidance will have on the Company’s consolidated financial statements.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair value assets and liabilities measured on recurring basis	'
	The following tables set forth our financial assets and liabilities as of December 31, 2013 and June 30, 2014 that we measured at fair value on a recurring basis by level within the fair value hierarchy. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement.
					Fair Value Measurements at December 31, 2013 Using Fair Value Hierarchy
		Fair Value as of December 31, 2013			Quoted Prices			Significant			Significant			Valuation
					In Active			Other			Unobservable			Technique
					Markets for			Observable			Inputs
					Identical			Inputs			(Level 3)
					Assets			(Level 2)
					(Level 1)
	Assets:
	Cash and cash equivalents	$	654,613		$	654,613		$	—		$	—		Market
	Restricted cash and cash equivalents	122,773			122,773			—			—			Market
	Total	$	777,386		$	777,386		$	—		$	—
	Liabilities:
	Derivative liabilities	$	39,992		$	—		$	39,992		$	—		Income
					Fair Value Measurements at June 30, 2014 Using Fair Value Hierarchy
		Fair Value as of June 30, 2014			Quoted Prices			Significant			Significant			Valuation
					In Active			Other			Unobservable			Technique
					Markets for			Observable			Inputs
					Identical			Inputs			(Level 3)
					Assets			(Level 2)
					(Level 1)
	Assets:
	Cash and cash equivalents	$	187,532		$	187,532		$	—		$	—		Market
	Restricted cash and cash equivalents	101,358			101,358			—			—			Market
	Total	$	288,890		$	288,890		$	—		$	—
	Liabilities:
	Derivative liabilities	$	4,757		$	—		$	4,757		$	—		Income
Fair value assets on a recurring basis using significant unobservable inputs	'
	The following tables reflect the activity for the classes of our assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2013 and 2014, respectively:
		Assets
		Debt Investments
		Three Months Ended June 30,						Six Months Ended June 30, 2014
		2013			2014			2013			2014
	Balance at beginning of period	$	—		$	—		$	40,388		$	—
	Total gains/(losses), net:
	Included in other revenue	—			—			1,613			—
	Settlements	—			—			(42,001		)	—
	Balance at end of period	$	—		$	—		$	—		$	—
Carrying amounts and fair values of financial instruments	'
	The carrying amounts and fair values of our financial instruments at December 31, 2013 and June 30, 2014 are as follows:
		December 31, 2013						June 30, 2014
		Carrying  Amount			Fair Value			Carrying  Amount			Fair Value
		of Asset			of Asset			of Asset			of Asset
		(Liability)			(Liability)			(Liability)			(Liability)
	Securitizations	$	(828,871	)	$	(779,901	)	$	(497,001	)	$	(466,589	)
	ECA term financings	(493,708		)	(506,227		)	(471,978		)	(494,552		)
	Bank financings	(264,256		)	(268,435		)	(583,514		)	(589,012		)
	Senior Notes	(2,150,527		)	(2,325,965		)	(2,200,000		)	(2,396,401		)

Lease_Rental_Revenues_and_Flig1

Lease Rental Revenues and Flight Equipment Held for Lease (Tables)	6 Months Ended
	Jun. 30, 2014
Leases [Abstract]	'
Annual future minimum lease rentals receivable	'
	Minimum future annual lease rentals contracted to be received under our existing operating leases of flight equipment at June 30, 2014 were as follows:
	Year Ending December 31,	Amount
	Remainder of 2014	$	356,704
	2015	672,220
	2016	588,472
	2017	449,088
	2018	326,299
	Thereafter	883,681
	Total	$	3,276,464
Geographic concentration of lease rental revenue earnings	'
	Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows:
		Three Months Ended June 30,						Six Months Ended June 30,
	Region	2013			2014			2013		2014
	Europe	33	%		28	%		33	%	29	%
	Asia and Pacific	38	%		38	%		38	%	40	%
	North America	9	%		10	%		9	%	10	%
	South America	9	%		15	%		9	%	12	%
	Middle East and Africa	11	%		9	%		11	%	9	%
	Total	100	%		100	%		100	%	100	%
Revenue attributable to individual countries	'
	The following table sets forth revenue attributable to individual countries representing at least 10% of total revenue (including maintenance revenue) based on each lessee’s principal place of business:
		Three Months Ended June 30,
		2013									2014
	Country	Revenue				Percent of			Number		Revenue		Percent of		Number
						Total			of				Total		of
						Revenue			Lessees				Revenue		Lessees
	India(1) (3)	$	—			—	%		—		$	25,707	11	%	1
	United States(2) (3)	—				—	%		—		24,390		11	%	5
	China(4)	17,610				10	%		4		$	—	—	%	—
	(1) Total revenue for the three months ended June 30, 2014 includes $19,582 of maintenance revenue related to scheduled lease terminations.
	(2) Total revenue for the three months ended June 30, 2014 includes $5,986 of maintenance revenue related to aircraft impairment.
	(3) Total revenue was less than 10% for the three months ended June 30, 2013.
	(4) Total revenue was less than 10% for the three months ended June 30, 2014.
		Six Months Ended June 30,
		2013									2014
	Country	Revenue				Percent of			Number		Revenue		Percent of		Number
						Total			of				Total		of
						Revenue			Lessees				Revenue		Lessees
	China(1)	$	36,913			11	%		4		—		—	%	—
	United States(1)	33,002				10	%		7		$	—	—	%	—
Geographic concentration of net book value of flight equipment held for lease	'
	Geographic concentration of net book value of flight equipment (includes net book value of flight equipment held for lease and net investment in finance leases) was as follows:
		December 31, 2013						June 30, 2014
	Region	Number			Net Book			Number		Net Book
		of			Value %			of		Value %
		Aircraft						Aircraft(1)
	Europe	64			30	%		62		27	%
	Asia and Pacific	56			41	%		46		40	%
	North America	19			10	%		21		9	%
	South America	14			7	%		13		14	%
	Middle East and Africa	7			11	%		6		10	%
	Off-lease	2		(2)	1	%		—		—	%
	Total	162			100	%		148		100	%
	_______________
	-1	At June 30, 2014, excludes two aircraft classified as Flight Equipment Held for Sale.
	-2	Consisted of two Boeing 747-400 converted freighter aircraft, one of which was subject to a commitment to lease and was delivered to our customer in the first quarter of 2014 and the other is included in Flight Equipment Held for Sale.

Net_Investment_in_Finance_Leas1

Net Investment in Finance Leases (Tables)	6 Months Ended
	Jun. 30, 2014
Leases [Abstract]	'
Schedule Of Components Of Investment In Finance Leases [Table Text Block]	'
	The following table lists the components of our net investment in finance leases at June 30, 2014:
		Amount
	Total lease payments to be received	$	57,971
	Less: Unearned income	(18,630		)
	Estimated residual values of leased flight equipment (unguaranteed)	33,259
	Net investment in finance leases	$	72,600
Schedule of Future Minimum Lease Payments for Capital Leases	'
	At June 30, 2014, minimum future lease payments on finance leases are as follows:
	Year Ending December 31,	Amount
	Remainder of 2014	$	6,466
	2015	12,889
	2016	12,889
	2017	11,974
	2018	4,080
	Thereafter	9,673
	Total	$	57,971

Unconsolidated_Equity_Method_I1

Unconsolidated Equity Method Investment (Tables)	6 Months Ended
	Jun. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Equity Method Investments	'
	The Company has recorded a $2,141 guarantee liability which is reflected in Maintenance payments on the balance sheet.
	Investment in joint venture at December 31, 2013	$	21,123
	Investment in joint venture	1,418
	Earnings from joint venture, net of tax	971
	Distributions	(1,674		)
	Investment in joint venture at June 30, 2014	$	21,838

Secured_and_Unsecured_Debt_Fin1

Secured and Unsecured Debt Financings (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Outstanding amounts of secured and unsecured term debt financings	'
	The following Securitization includes a liquidity facility commitment described in the table below:
				Available Liquidity
	Facility	Liquidity Facility Provider		December 31,				June 30,			Unused	Interest Rate
				2013				2014			Fee	on any Advances
	Securitization No. 2	HSH Nordbank AG		$	65,000			$	65,000		0.50%	1M Libor + 0.75
	The outstanding amounts of our secured and unsecured term debt financings were as follows:
		At December 31, 2013				At June 30, 2014
	Debt Obligation	Outstanding				Outstanding				Interest Rate(1)	Final Stated
		Borrowings				Borrowings					Maturity(2)
	Secured Debt Financings:
	Securitization No. 1(3)	$	225,034			$	—			—%	—
	Securitization No. 2	603,837				497,001				0.46%	6/14/37
	ECA Term Financings	493,708				471,978				3.02% to 3.96%	12/3/21 to 11/30/24
	Bank Financings	264,256				583,514				1.05% to 5.09%	09/15/15 to 04/19/25
	Total secured debt financings	1,586,835				1,552,493
	Unsecured Debt Financings:
	Senior Notes due 2017	500,000				500,000				6.75%	4/15/17
	Senior Notes due 2018(4)	450,527				—				—%	—
	Senior Notes due 2018	400,000				400,000				4.63%	12/5/18
	Senior Notes due 2019	500,000				500,000				6.25%	12/1/19
	Senior Notes due 2020	300,000				300,000				7.63%	4/15/20
	Senior Notes due 2021	—				500,000				5.13%	3/15/21
	2014 Revolving Credit Facility(5)	—				—				N/A	3/31/18
	Total unsecured debt financings	2,150,527				2,200,000
	Total secured and unsecured debt financings	$	3,737,362			$	3,752,493
	-1	Reflects the floating rate in effect at the applicable reset date plus the margin for Securitization No. 2 and six of our Bank Financings. All other financings have a fixed rate.
	-2	For Securitization No. 2, all cash flows available after expenses and interest are applied to debt amortization.
	-3	In February 2014, we repaid the outstanding amount plus accrued interest and fees due under Securitization No. 1 and terminated the related interest rate derivative, for a total cash payment of $255,186, with proceeds from our December 2013 issuance of our Senior Notes due 2018.
	-4	Proceeds from the issuance of our Senior Notes due 2021 were used to pay-off the balance of our 9.75% Senior Notes due 2018 plus accrued interest of $10,238 and the call premium of $32,835 on April 25, 2014.
	-5	On March 31, 2014, we amended and restructured our existing $335,000 2013 Revolving Credit Facility with a new unsecured revolving credit facility (the “2014 Revolving Credit Facility”).  The 2014 Revolving Credit Facility was increased to $450,000, has a term of four years and is scheduled to expire in March 2018 and was undrawn at June 30, 2014.

Dividends_Tables

Dividends (Tables)	6 Months Ended
	Jun. 30, 2014
Dividends [Abstract]	'
Quarterly dividends declared by board of directors	'
	The following table sets forth the quarterly dividends declared by our board of directors for the periods covered in this report:
	Declaration Date	Dividend		Aggregate		Record Date	Payment Date
		per Common		Dividend
		Share		Amount
	February 18, 2013	$	0.165	$	11,268	March 4, 2013	March 15, 2013
	May 1, 2013	$	0.165	$	11,297	May 31, 2013	June 14, 2013
	August 2, 2013	$	0.165	$	13,330	August 30, 2013	September 13, 2013
	October 29, 2013	$	0.2	$	16,163	November 29, 2013	December 13, 2013
	February 21, 2014	$	0.2	$	16,201	March 7, 2014	March 14, 2014
	May 5, 2014	$	0.2	$	16,202	May 30, 2014	June 13, 2014

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Allocation of distributed and undistributed earnings to both common shares and restricted common shares	'
	In applying the two-class method, distributed and undistributed earnings are allocated to both common shares and restricted common shares based on the total weighted average shares outstanding during the period as follows:
		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2014			2013			2014
	Weighted-average shares:
	Common shares outstanding	67,828,919			80,389,996			67,862,513			80,388,691
	Restricted common shares	631,368			643,590			508,288			572,452
	Total weighted-average shares	68,460,287			81,033,586			68,370,801			80,961,143
	Percentage of weighted-average shares:
	Common shares outstanding	99.08	%		99.21	%		99.26	%		99.29	%
	Restricted common shares	0.92	%		0.79	%		0.74	%		0.71	%
	Total	100	%		100	%		100	%		100	%
Basic and Diluted earnings per share	'
	The calculations of both basic and diluted earnings per share are as follows:
		Three Months Ended June 30,								Six Months Ended June 30,
		2013				2014				2013			2014
	Earnings per share – Basic:
	Net income	$	32,854			$	3,136			$	55,918		$	8,913
	Less: Distributed and undistributed earnings allocated to restricted common shares (a)	(303		)		(25		)		(416		)	(63		)
	Earnings available to common shareholders – Basic	$	32,551			$	3,111			$	55,502		$	8,850
	Weighted-average common shares outstanding – Basic	67,828,919				80,389,996				67,862,513			80,388,691
	Earnings per common share – Basic	$	0.48			$	0.04			$	0.82		$	0.11
	Earnings per share – Diluted:
	Net income	$	32,854			$	3,136			$	55,918		$	8,913
	Less: Distributed and undistributed earnings allocated to restricted common shares(a)	(303		)		(25		)		(416		)	(63		)
	Earnings available to common shareholders – Diluted	$	32,551			$	3,111			$	55,502		$	8,850
	Weighted-average common shares outstanding – Basic	67,828,919				80,389,996				67,862,513			80,388,691
	Effect of dilutive shares(b)	—				—				—			—
	Weighted-average common shares outstanding – Diluted	67,828,919				80,389,996				67,862,513			80,388,691
	Earnings per common share – Diluted	$	0.48			$	0.04			$	0.82		$	0.11
	(a)	For the three months ended June 30, 2013 and 2014, distributed and undistributed earnings to restricted shares is 0.92% and 0.79% of net income. For the six months ended June 30, 2013 and 2014, distributed and undistributed earnings to restricted shares is 0.74% and 0.71% of net income. The amount of restricted share forfeitures for all periods present is immaterial to the allocation of distributed and undistributed earnings.
	(b)	For the three and six months ended June 30, 2013 and 2014, we had no dilutive shares.

Income_Taxes_Tables

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Sources of income from continuing operations before income taxes	'
	The sources of income from continuing operations before income taxes and earnings of unconsolidated equity method investment for the three and six months ended June 30, 2013 and 2014 were as follows:
		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2014			2013			2014
	U.S. operations	$	791		$	756		$	1,196		$	1,521
	Non-U.S. operations	35,795			8,417			62,038			13,862
	Total	$	36,586		$	9,173		$	63,234		$	15,383
Analysis of effective income tax rate for continuing operations	'
	Differences between statutory income tax rates and our effective income tax rates applied to pre-tax income consisted of the following:
		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2014			2013			2014
	Notional U.S. federal income tax expense (benefit) at the statutory rate	$	12,805		$	3,211		$	22,132		$	5,384
	U.S. state and local income tax, net	52			40			86			119
	Non-U.S. operations:
	Bermuda	(8,989		)	2,811			(12,865		)	6,240
	Ireland	410			2,537			(491		)	(752		)
	Singapore	171			(1,282		)	147			(2,477		)
	Other	(806		)	(771		)	(1,876		)	(1,369		)
	Non-deductible expenses in the U.S.	97			19			199			318
	Other	(8		)	(7		)	(16		)	(22		)
	Income tax provision	$	3,732		$	6,558		$	7,316		$	7,441

Interest_Net_Tables

Interest, Net (Tables)	6 Months Ended
	Jun. 30, 2014
Interest Income (Expense), Net [Abstract]	'
Components of Interest	'
	The following table shows the components of interest, net:
		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2014			2013			2014
	Interest on borrowings, net settlements on interest rate derivatives, and other liabilities (1)	$	50,823		$	48,172		$	99,414		$	99,857
	Hedge ineffectiveness losses	(24		)	6			104			59
	Amortization of interest rate derivatives related to deferred losses	9,711			8,854			17,985			18,181
	Amortization of deferred financing fees (2)	6,346			3,567			8,781			6,987
	Interest Expense	66,856			60,599			126,284			125,084
	Less interest income	(200		)	(105		)	(476		)	(327		)
	Interest, net	$	66,656		$	60,494		$	125,808		$	124,757
	(1) For the three and six months ended June 30, 2013, includes the loan termination fee of $2,954 related to two ECA aircraft sold in June 2013.
	(2) For the three and six months ended June 30, 2013, includes the write-off of deferred financings fees of $3,825 related to the repayment of two ECA Financings.

Derivatives_Tables

Derivatives (Tables)

6 Months Ended

Jun. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

'

Interest rate derivatives

'

We held the following interest rate derivatives as of June 30, 2014:

Derivative Liabilities

Hedged Item

Current

Effective

Maturity

Future

Floating

Fixed

Balance Sheet

Fair

Notional

Date

Date

Maximum

Rate

Rate

Location

Value

Amount

Notional

Amount

Interest rate derivatives designated as cash flow hedges:

Securitization No. 2

$

422,276

12-Jun

17-Jun

$

422,276

1M LIBOR

1.26%

Fair value of

$

4,757

to

derivative

1.28%

liabilities

Consolidated statement of income related to interest rate derivative contracts

'

Following is the effect of interest rate derivatives on the statement of financial performance for the six months ended June 30, 2014:

Effective Portion

Ineffective Portion

Derivatives in

Amount of

Location of

Amount of

Location of

Amount of

ASC 815

Gain or (Loss)

Gain or (Loss)

Gain or (Loss)

Gain or (Loss)

Gain or (Loss)

Cash Flow

Recognized in

Reclassified from

Reclassified from

Recognized in

Recognized in

Hedging

OCI on

Accumulated

Accumulated

Income on Derivative

Income on

Relationships

Derivative

OCI into Income

OCI into Income (b)

Derivative

(a)

(c)

Interest rate derivatives

($3,577)

Interest expense

($22,140)

Interest expense

($62)

(a)

This represents the change in fair market value of our interest rate derivatives since year end, net of taxes, offset by the amount of actual cash paid related to the net settlements of the interest rate derivatives for the six months ended June 30, 2014.

(b)

This represents the amount of actual cash paid, net of taxes, related to the net settlements of the interest rate derivatives for the six months ended June 30, 2014 plus any effective amortization of net deferred interest rate derivative losses.

(c)

This represents both realized and unrealized ineffectiveness incurred during the six months ended June 30, 2014.

Derivatives Not Designated as Hedging Instruments under ASC 815

Location of Gain

Amount of Gain

or (Loss)

or (Loss)

Recognized in Income

Recognized in Income on

On Derivative

Derivative

Interest rate derivatives

Other income (expense)

$

681

The following table summarizes amounts charged directly to the consolidated statement of income for the three and six months ended June 30, 2013 and 2014, respectively, related to our interest rate derivatives:

Three Months Ended June 30,

Six Months Ended June 30,

2013

2014

2013

2014

Interest expense:

Hedge ineffectiveness losses

$

(24

)

$

6

$

104

$

59

Amortization:

Accelerated amortization of deferred losses (1)

2,027

3

2,027

3

Amortization of loss on designated interest rate derivative

404

—

745

548

Amortization of deferred losses

7,280

8,851

15,213

17,630

Total Amortization

9,711

8,854

17,985

18,181

Total charged to interest expense

$

9,687

$

8,860

$

18,089

$

18,240

Other income:

Mark to market gains on undesignated interest rate derivatives

$

1,657

$

—

$

2,872

$

681

Total charged to other income

$

1,657

$

—

$

2,872

$

681

(1) For the three and six months ended June 30, 2013, represents accelerated amortization of deferred hedge losses related to two aircraft sold in June 2013.

Other_Assets_Tables

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2014
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]	'
Principal components of other assets	'
	The following table describes the principal components of other assets on our consolidated balance sheet as of:
		December 31,		June 30,
		2013		2014
	Deferred debt issuance costs, net of amortization of $61,104 and $46,996, respectively	$	52,464	$	57,848
	Deferred federal income tax asset	1,218		1,046
	Lease incentives and lease premiums, net of amortization of $41,136 and $21,722, respectively	72,181		62,119
	Flight equipment held for sale	9,474		36,939
	Aircraft purchase deposits	10,000		3,000
	Other assets	8,639		18,280
	Total other assets	$	153,976	$	179,232

Accounts_Payable_Accrued_Expen1

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2014
Payables and Accruals [Abstract]	'
Principal components of accounts payable, accrued expenses and other liabilities recorded on our consolidated balance sheet	'
	The following table describes the principal components of accounts payable, accrued expenses and other liabilities recorded on our consolidated balance sheet as of:
		December 31,		June 30,
		2013		2014
	Accounts payable and accrued expenses	$	30,204	$	21,005
	Deferred federal income tax liability	33,178		38,864
	Accrued interest payable	39,213		27,133
	Lease discounts, net of amortization of $6,458 and $4,900 respectively	9,066		44,673
	Total accounts payable, accrued expenses and other liabilities	$	111,661	$	131,675

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Schedule of Accumulated Other Comprehensive Income (Loss)	'
	The following table describes the principal components of accumulated other comprehensive loss recorded on our consolidated balance sheet as of:
	Changes in accumulated other comprehensive loss by component(a)	Three Months Ended June 30, 2014			Six Months Ended June 30, 2014
	Beginning balance	$	(66,208	)	$	(75,905	)
	Amount recognized in other comprehensive loss on derivatives, net of tax benefit of $15 and tax expense of $721, respectively	(1,197		)	(3,577		)
	Amounts reclassified from accumulated other comprehensive loss into income, net of tax expense of $15 and $83, respectively	10,063			22,140
	Net current period other comprehensive income	8,866			18,563
	Ending balance	$	(57,342	)	$	(57,342	)
	(a) All amounts are net of tax. Amounts in parentheses indicate debits.
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	'
	Reclassifications from accumulated other comprehensive loss(a)	Three Months Ended June 30, 2014			Six Months Ended June 30, 2014
	Amount of effective amortization of net deferred interest rate derivative losses(b)	$	8,854		$	18,181
	Effective amount of net settlements of interest rate derivatives, net of tax expense of $15 and $83, respectively(b)	1,209			3,959
	Amount of loss reclassified from accumulated other comprehensive loss into income(c)	$	10,063		$	22,140
	(a) All amounts are net of tax.
	(b) Included in interest expense.
	(c) This represents the effective amounts of actual cash paid related to the net settlements of the interest rate derivatives plus any effective amortization of net deferred interest rate derivative losses (see Note 13. - Derivatives).

Summary_of_Significant_Account2

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2014
	segment
Variable Interest Entity [Line Items]	'
Number of Operating Segments	1
Variable Interest Entity, Primary Beneficiary	'
Variable Interest Entity [Line Items]	'
Number of Consolidated Variable Interest Entities	7

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Liabilities:	'	'
Derivative liabilities	$4,757	$39,992
Recurring | Estimate of Fair Value Measurement	'	'
Assets:	'	'
Cash and cash equivalents	187,532	654,613
Restricted cash and cash equivalents	101,358	122,773
Total	288,890	777,386
Liabilities:	'	'
Derivative liabilities	4,757	39,992
Recurring | Quoted Prices In Active Markets for Identical Assets (Level 1)	'	'
Assets:	'	'
Cash and cash equivalents	187,532	654,613
Restricted cash and cash equivalents	101,358	122,773
Total	288,890	777,386
Liabilities:	'	'
Derivative liabilities	0	0
Recurring | Significant Other Observable Inputs (Level 2)	'	'
Assets:	'	'
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Total	0	0
Liabilities:	'	'
Derivative liabilities	4,757	39,992
Recurring | Significant Unobservable Inputs (Level 3)	'	'
Assets:	'	'
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Total	0	0
Liabilities:	'	'
Derivative liabilities	$0	$0

Fair_Value_Measurements_Detail1

Fair Value Measurements (Details 1) (Recurring, Available-for-sale Securities, USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Recurring | Available-for-sale Securities	'	'	'	'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Balance at beginning of period	$0	$0	$0	$40,388
Total gains/(losses), net:	'	'	'	'
Included in other revenue	0	0	0	1,613
Settlements	0	0	0	-42,001
Balance at end of period	$0	$0	$0	$0

Fair_Value_Measurements_Detail2

Fair Value Measurements (Details 3) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Secured Debt | Significant Other Observable Inputs (Level 2) | Reported Value Measurement | Securitizations	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Debt Instrument, Fair Value Disclosure	($497,001)	($828,871)
Secured Debt | Significant Other Observable Inputs (Level 2) | Reported Value Measurement | ECA Term Financings	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Debt Instrument, Fair Value Disclosure	-471,978	-493,708
Secured Debt | Significant Other Observable Inputs (Level 2) | Reported Value Measurement | Bank financings	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Debt Instrument, Fair Value Disclosure	-583,514	-264,256
Secured Debt | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement | Securitizations	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Debt Instrument, Fair Value Disclosure	-466,589	-779,901
Secured Debt | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement | ECA Term Financings	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Debt Instrument, Fair Value Disclosure	-494,552	-506,227
Secured Debt | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement | Bank financings	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Debt Instrument, Fair Value Disclosure	-589,012	-268,435
Unsecured Debt | Quoted Prices In Active Markets for Identical Assets (Level 1) | Reported Value Measurement | Senior Notes	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Debt Instrument, Fair Value Disclosure	-2,200,000	-2,150,527
Unsecured Debt | Quoted Prices In Active Markets for Identical Assets (Level 1) | Estimate of Fair Value Measurement | Senior Notes	'	'
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'	'
Debt Instrument, Fair Value Disclosure	($2,396,401)	($2,325,965)

Fair_Value_Measurements_Detail3

Fair Value Measurements (Details Textual) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Mar. 31, 2013

Mar. 31, 2013

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

B747-400 Converted Freighter [Member]

A319-100 & B 767-300ER

A-319-100

B-767-300ER

B-737 Classic

B-737-400 & B747-400BCF [Member]

B-747-400BCF [Member]

Off Lease [Member]

Off Lease [Member]

Held for Sale [Member]

Aircraft

Aircraft

Aircraft

Aircraft

Aircraft

Aircraft

Aircraft

Impaired Long-Lived Assets Held and Used [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Aircraft Impaired

'

'

'

'

2

2

1

1

1

2

1

1

'

1

Impairment of Aircraft

$28,306

$0

$46,569

$6,199

'

$6,199

'

'

'

$18,263

'

$17,419

'

$10,723

Maintenance Revenue

36,182

13,185

39,224

30,051

'

9,019

'

'

'

17,176

'

'

3,853

5,986

Other revenue

$2,422

$3,870

$4,252

$9,800

'

$876

'

'

'

'

'

'

$857

$3,626

Lease_Rental_Revenues_and_Flig2

Lease Rental Revenues and Flight Equipment Held for Lease (Details) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Annual future minimum lease rentals receivable	'
Remainder of 2014	$356,704
2014	672,220
2015	588,472
2016	449,088
2017	326,299
Thereafter	883,681
Total	$3,276,464

Lease_Rental_Revenues_and_Flig3

Lease Rental Revenues and Flight Equipment Held for Lease (Details 1) (Lease Rental Revenue, Geographic Concentration Risk)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Percentage of geographic concentration	100.00%	100.00%	100.00%	100.00%
Europe	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Percentage of geographic concentration	28.00%	33.00%	29.00%	33.00%
Asia and Pacific	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Percentage of geographic concentration	38.00%	38.00%	40.00%	38.00%
North America	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Percentage of geographic concentration	10.00%	9.00%	10.00%	9.00%
South America	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Percentage of geographic concentration	15.00%	9.00%	12.00%	9.00%
Middle East and Africa	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Percentage of geographic concentration	9.00%	11.00%	9.00%	11.00%

Lease_Rental_Revenues_and_Flig4

Lease Rental Revenues and Flight Equipment Held for Lease (Details 2) (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Revenue attributable to individual countries	'		'		'		'
Revenue	$183,231		$157,918		$357,566		$314,508
Maintenance revenue (including contra maintenance revenue of $0 and $0 for the three months ended and $0 and $16,382 for the six months ended June 30, 2013 and 2014, respectively)	36,182		13,185		39,224		30,051
India	'		'		'		'
Revenue attributable to individual countries	'		'		'		'
Revenue	25,707	[1],[2]	0	[1],[2]	'		'
Number of Lessees	1	[1],[2]	0	[1],[2]	'		'
Maintenance revenue (including contra maintenance revenue of $0 and $0 for the three months ended and $0 and $16,382 for the six months ended June 30, 2013 and 2014, respectively)	19,582		'		'		'
China	'		'		'		'
Revenue attributable to individual countries	'		'		'		'
Revenue	0	[3]	17,610	[3]	0	[3]	36,913	[3]
Number of Lessees	0	[3]	4	[3]	0	[3]	4	[3]
United States	'		'		'		'
Revenue attributable to individual countries	'		'		'		'
Revenue	24,390	[1],[4]	0	[1],[4]	0	[3]	33,002	[3]
Number of Lessees	5	[1],[4]	0	[1],[4]	0	[3]	7	[3]
Maintenance revenue (including contra maintenance revenue of $0 and $0 for the three months ended and $0 and $16,382 for the six months ended June 30, 2013 and 2014, respectively)	$5,986		'		'		'
Geographic Concentration Risk | Total Revenue [Member] | India	'		'		'		'
Revenue attributable to individual countries	'		'		'		'
Percentage of geographic concentration	11.00%	[1],[2]	0.00%	[1],[2]	'		'
Geographic Concentration Risk | Total Revenue [Member] | China	'		'		'		'
Revenue attributable to individual countries	'		'		'		'
Percentage of geographic concentration	0.00%	[3]	10.00%	[3]	0.00%	[3]	11.00%	[3]
Geographic Concentration Risk | Total Revenue [Member] | United States	'		'		'		'
Revenue attributable to individual countries	'		'		'		'
Percentage of geographic concentration	11.00%	[1],[4]	0.00%	[1],[4]	0.00%	[3]	10.00%	[3]
[1]	Total revenue was less than 10% for the three months ended June 30, 2013.
[2]	Total revenue for the three months ended June 30, 2014 includes $19,582 of maintenance revenue related to scheduled lease terminations.
[3]	Total revenue was less than 10% for the six months ended June 30, 2014.
[4]	Total revenue for the three months ended June 30, 2014 includes $5,986 of maintenance revenue related to aircraft impairment.

Lease_Rental_Revenues_and_Flig5

Lease Rental Revenues and Flight Equipment Held for Lease (Details 3) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Aircraft

Aircraft

Aircraft

India

India

United States

United States

United States

United States

Europe

Europe

Asia and Pacific

Asia and Pacific

North America

North America

China

China

China

China

South America

South America

Middle East and Africa

Middle East and Africa

Off Lease [Member]

Off Lease [Member]

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Geographic Concentration Risk

Lessee

Lessee

Lessee

Lessee

Lessee

Lessee

Aircraft

Aircraft

Aircraft

Aircraft

Aircraft

Aircraft

Lessee

Lessee

Lessee

Lessee

Aircraft

Aircraft

Aircraft

Aircraft

Aircraft

Aircraft

Total Revenue [Member]

Total Revenue [Member]

Total Revenue [Member]

Total Revenue [Member]

Total Revenue [Member]

Total Revenue [Member]

Total Revenue [Member]

Total Revenue [Member]

Total Revenue [Member]

Total Revenue [Member]

Net Book Value

Net Book Value

Net Book Value

Net Book Value

Net Book Value

Net Book Value

Net Book Value

Net Book Value

Net Book Value

Net Book Value

Net Book Value

Net Book Value

Net Book Value

Net Book Value

India

India

United States

United States

United States

United States

China

China

China

China

Europe

Europe

Asia and Pacific

Asia and Pacific

North America

North America

South America

South America

Middle East and Africa

Middle East and Africa

Off Lease [Member]

Off Lease [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revenue

$183,231

$157,918

$357,566

$314,508

'

$25,707

[1],[2]

$0

[1],[2]

$24,390

[1],[3]

$0

[1],[3]

$0

[4]

$33,002

[4]

'

'

'

'

'

'

$0

[4]

$17,610

[4]

$0

[4]

$36,913

[4]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maintenance Revenue

$36,182

$13,185

$39,224

$30,051

'

$19,582

'

$5,986

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Aircraft

148

[5]

'

148

[5]

'

162

'

'

'

'

'

'

62

[5]

64

46

[5]

56

21

[5]

19

'

'

'

'

13

[5]

14

6

[5]

7

0

[5]

2

[6]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of geographic concentration

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11.00%

[1],[2]

0.00%

[1],[2]

11.00%

[1],[3]

0.00%

[1],[3]

0.00%

[4]

10.00%

[4]

0.00%

[4]

10.00%

[4]

0.00%

[4]

11.00%

[4]

100.00%

100.00%

27.00%

30.00%

40.00%

41.00%

9.00%

10.00%

14.00%

7.00%

10.00%

11.00%

0.00%

1.00%

[6]

Number of Lessees

'

'

'

'

'

1

[1],[2]

0

[1],[2]

5

[1],[3]

0

[1],[3]

0

[4]

7

[4]

'

'

'

'

'

'

0

[4]

4

[4]

0

[4]

4

[4]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Total revenue was less than 10% for the three months ended June 30, 2013.

[2]

Total revenue for the three months ended June 30, 2014 includes $19,582 of maintenance revenue related to scheduled lease terminations.

[3]

Total revenue for the three months ended June 30, 2014 includes $5,986 of maintenance revenue related to aircraft impairment.

[4]

Total revenue was less than 10% for the six months ended June 30, 2014.

[5]

At June 30, 2014, excludes two aircraft classified as Flight Equipment Held for Sale.

[6]

Consisted of two Boeing 747-400 converted freighter aircraft, one of which was subject to a commitment to lease and was delivered to our customer in the first quarter of 2014 and the other is included in Flight Equipment Held for Sale.

Lease_Rental_Revenues_and_Flig6

Lease Rental Revenues and Flight Equipment Held for Lease (Details 4)	6 Months Ended	12 Months Ended		3 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2013	Jun. 30, 2014
	Geographic Concentration Risk	Geographic Concentration Risk	B-747-400 [Member]	Held for Sale [Member]
	Net Book Value	Net Book Value	Aircraft	Aircraft
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Number Of Aircraft	'	'	'	2
Number of Offlease Aircraft being Marketed for Lease or Sale	'	'	2	'
Number of Offlease Aircraft Marketed for Lease	'	'	1	'
Percentage of geographic concentration	100.00%	100.00%	'	'

Lease_Rental_Revenues_and_Flig7

Lease Rental Revenues and Flight Equipment Held for Lease (Details Textual) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2013

Jun. 30, 2013

Jun. 30, 2013

Jun. 30, 2014

Mar. 31, 2014

Mar. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Customer Group One

Customer Group One

Customer Group One

Customer Group Two

Customer Group Two

Other Customers

Other Customers

Other Customers

Other Customers

Other Customers

Lease Rental Revenue

Lease Rental Revenue

Lease Rental Revenue

Lease Rental Revenue

Lease Rental Revenue

Lease Rental Revenue

Lease Rental Revenue

Lease Rental Revenue

Maintenance Payments

Maintenance Payments

Lessee

Lessee

Lessee

Lessee

Lessee

Lessee

Lessee

Customer Concentration Risk

Customer Concentration Risk

Customer Concentration Risk

Customer Concentration Risk

Customer Concentration Risk

Customer Concentration Risk

Customer Concentration Risk

Customer Concentration Risk

Customer Group One

Customer Group One

Customer Group One

Customer Group One

Customer Group Two

Customer Group Two

Customer Group Two

Customer Group Two

Revenue, Major Customer [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Entity-Wide Revenue, Major Customer, Number

1

1

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of geographic concentration

'

'

'

'

'

'

'

'

'

'

9.00%

8.00%

6.00%

8.00%

11.00%

23.00%

10.00%

23.00%

'

'

Percentage of lease rental revenues accounted by customers

'

'

'

'

'

5.00%

'

5.00%

5.00%

5.00%

'

'

'

'

'

'

'

'

'

'

Number of Lessees With 5% of Lease Rental Revenue

'

'

'

4

4

'

0

0

'

'

'

'

'

'

'

'

'

'

'

'

Amounts of lease incentive liabilities recorded in the consolidated balance sheets

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$26,742

$28,611

Net_Investment_in_Finance_Leas2

Net Investment in Finance Leases Narrative (Details)	Jun. 30, 2014
	Aircraft
	Customer
United States	'
Capital Leased Assets [Line Items]	'
Capital Leased Assets, Number of Units	4
Capital Leased Assets, Number of Customers	2
CANADA	'
Capital Leased Assets [Line Items]	'
Capital Leased Assets, Number of Units	1
CROATIA	'
Capital Leased Assets [Line Items]	'
Capital Leased Assets, Number of Units	1

Net_Investment_in_Finance_Leas3

Net Investment in Finance Leases Net Investment in Finance Leases (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Receivables [Abstract]	'	'
Capital Leases, Future Minimum Payments Receivable, Next Twelve Months	$6,466	'
Capital Leases, Net Investment in Direct Financing Leases [Abstract]	'	'
Total lease payments to be received	57,971	'
Less: Unearned income	-18,630	'
Estimated residual values of leased flight equipment (unguaranteed)	33,259	'
Net investment in finance leases	72,600	145,173
2014	12,889	'
2015	12,889	'
2016	11,974	'
2017	4,080	'
Thereafter	9,673	'
Capital Leases, Future Minimum Payments Receivable	$57,971	'

Unconsolidated_Equity_Method_I2

Unconsolidated Equity Method Investment (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Equity Method Investments	$21,838	'	$21,838	'	$21,123
Customer Advances and Deposits	433,703	'	433,703	'	442,432
Income (Loss) from Equity Method Investments	521	0	971	0	'
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	'	'	651	0	'
Equity Method Investee [Member] | OTTP [Member]	'	'	'	'	'
Equity Method Investments	21,838	'	21,838	'	21,123
Equity Method Investment, Ownership Percentage	30.00%	'	30.00%	'	'
Equity Method Investments Before Earnings	'	'	1,418	'	'
Income (Loss) from Equity Method Investments	'	'	971	'	'
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	'	'	-1,674	'	'
A-330-200 [Member] | Equity Method Investee [Member] | OTTP [Member]	'	'	'	'	'
Customer Advances and Deposits	$2,141	'	$2,141	'	'

Variable_Interest_Entities_Det

Variable Interest Entities (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2014
In Thousands, except Per Share data, unless otherwise specified			Variable Interest Entity, Primary Beneficiary	Variable Interest Entity, Primary Beneficiary	Variable Interest Entity, Primary Beneficiary	ACS Ireland VIEs	ACS Ireland VIEs	ACS Ireland VIEs	Air Knight VIEs	Air Knight VIEs
			Entity	Securitization No. 1	Securitization No. 2	Variable Interest Entity, Primary Beneficiary	Variable Interest Entity, Primary Beneficiary	Variable Interest Entity, Primary Beneficiary	Variable Interest Entity, Primary Beneficiary	Variable Interest Entity, Primary Beneficiary
			Aircraft	Class A-1 Notes	Class A-1 Notes	Aircraft		Class E-1 Securities	ECA Term Financings	ECA Term Financings
				Subsidiary	Subsidiary					Term_Loan
Variable Interest Entity [Line Items]	'	'	'	'	'	'	'	'	'	'
Number of VIE's consolidated	'	'	7	'	'	'	'	'	'	'
Number of Aircrafts	'	'	15	'	'	'	'	'	'	'
Number of Subsidiaries in Securitization No.2	'	'	'	2	2	'	'	'	'	'
Percentage of common shares owned	'	'	'	'	'	95.00%	'	'	'	'
Limitation of trust risk to annual dividend	'	'	'	'	'	$2	'	'	'	'
Number of aircraft transferred to historical cost basis	'	'	'	'	'	7	'	'	'	'
Combined assets	'	'	'	'	'	$189,908	'	'	'	'
Borrowings from secured financings	1,552,493	1,586,835	'	'	'	'	'	40,351	'	'
Combined Liabilities	'	'	'	'	'	'	155,415	'	'	'
Type of term loans	'	'	'	'	'	'	'	'	'	8
Debt instrument, term	'	'	'	'	'	'	'	'	'12 years	'
Net book value of flight equipment held for lease	'	'	'	'	'	'	'	'	'	656,434
Consolidated debt outstanding	'	'	'	'	'	'	'	'	'	$471,978

Secured_and_Unsecured_Debt_Fin2

Secured and Unsecured Debt Financings (Details) (USD $)

3 Months Ended

6 Months Ended

1 Months Ended

0 Months Ended

1 Months Ended

6 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Aug. 02, 2013

Feb. 28, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Feb. 18, 2014

Jun. 30, 2014

Jun. 30, 2014

Line of Credit

Line of Credit

Bank Financings, March 2014 [Member]

2014 Revolving Credit Facility [Member]

2013 Revolving Credit Facility

Securitization No. 1

Securitization No. 1

Securitization No. 1

Securitization No. 2

Securitization No. 2

ECA Term Financings

ECA Term Financings

Bank Financings

Bank Financings

Senior Notes Due 2017

Senior Notes Due 2017

Senior Notes due 2018

Senior Notes due 2018

Senior Notes due 2018

Senior Notes Due 2018 with 4.625 Interest Rate [Member]

Senior Notes Due 2018 with 4.625 Interest Rate [Member]

Senior Notes Due 2019

Senior Notes Due 2019

Senior Notes Due 2020 [Member]

Senior Notes Due 2020 [Member]

Senior Notes due 2021 [Member]

Senior Notes due 2021 [Member]

Senior Notes due 2021 [Member]

Terminated Interest Rate Contract [Member]

Terminated Interest Rate Contract [Member]

Terminated Interest Rate Contract [Member]

Revolving Credit Facility

Revolving Credit Facility

Notes Payable to Banks

Line of Credit

Line of Credit

Secured Debt

Secured Debt

Secured Debt

Secured Debt

Secured Debt

Notes Payable, Other Payables

Notes Payable, Other Payables

Notes Payable to Banks

Notes Payable to Banks

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Securitization No. 1

Securitization No. 1

ECA Term Financings

B-737-800 [Member]

Revolving Credit Facility

Revolving Credit Facility

variable_loan

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$26,863

$11,211

$5,890

Write off of Deferred Debt Issuance Cost

3,735

3,825

'

3,825

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of credit facility, current borrowing capacity

'

'

'

'

'

'

'

'

450,000

335,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayments of Long-term Debt

'

'

827,512

294,064

'

'

'

'

'

'

255,186

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of debt instruments

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Term debt financings assumed in asset acquisitions

'

'

39,061

84,721

'

'

'

40,809

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Outstanding amounts of secured and unsecured term debt financings

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Borrowings from secured financings

1,552,493

'

1,552,493

'

1,586,835

'

'

'

'

'

'

0

[1]

225,034

[1]

497,001

603,837

471,978

493,708

583,514

264,256

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Borrowings from unsecured financings

2,200,000

'

2,200,000

'

2,150,527

0

[2]

0

[2]

'

'

'

'

'

'

'

'

'

'

'

'

500,000

500,000

0

[3]

'

450,527

[3]

400,000

400,000

500,000

500,000

300,000

300,000

500,000

'

0

'

'

'

Total secured and unsecured debt financings

$3,752,493

'

$3,752,493

'

$3,737,362

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate

'

'

'

'

'

'

'

'

'

'

'

0.00%

[1],[4]

'

0.46%

[4]

'

'

'

'

'

6.75%

[4]

'

'

9.75%

'

4.63%

[4]

'

6.25%

[4]

'

7.63%

[4]

'

5.13%

[4]

5.13%

'

'

'

'

Minimum effective interest rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.02%

[4]

'

1.05%

[4]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum effective interest rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.96%

[4]

'

5.09%

[4]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, term

'

'

'

'

'

'

'

'

'4 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

In February 2014, we repaid the outstanding amount plus accrued interest and fees due under Securitization No. 1 and terminated the related interest rate derivative, for a total cash payment of $255,186, with proceeds from our December 2013 issuance of our Senior Notes due 2018.

[2]

On March 31, 2014, we amended and restructured our existing $335,000 2013 Revolving Credit Facility with a new unsecured revolving credit facility (the “2014 Revolving Credit Facility”). The 2014 Revolving Credit Facility was increased to $450,000, has a term of four years and is scheduled to expire in March 2018 and was undrawn at June 30, 2014.

[3]

Proceeds from the issuance of our Senior Notes due 2021 were used to pay-off the balance of our 9.75% Senior Notes due 2018 plus accrued interest of $10,238 and the call premium of $32,835 on April 25, 2014.

[4]

Reflects the floating rate in effect at the applicable reset date plus the margin for Securitization No. 2 and six of our Bank Financings. All other financings have a fixed rate.

Secured_and_Unsecured_Debt_Fin3

Secured and Unsecured Debt Financings (Details 1) (USD $)

3 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

6 Months Ended

1 Months Ended

1 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Feb. 28, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Apr. 25, 2014

Apr. 25, 2014

31-May-13

Feb. 28, 2014

Feb. 28, 2014

Feb. 28, 2014

Feb. 28, 2014

Feb. 28, 2014

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Mar. 31, 2014

Aug. 02, 2013

Secured Debt

Secured Debt

Secured Debt

Secured Debt

Secured Debt

Secured Debt

Senior Notes

Senior Notes

Notes Payable to Banks

Notes Payable to Banks

Notes Payable to Banks

Notes Payable to Banks

Notes Payable to Banks

Notes Payable to Banks

Notes Payable to Banks

Senior Notes

Senior Notes

Senior Notes

Senior Notes

Line of Credit

Securitization No. 1

Securitization No. 1

Securitization No. 2

Securitization No. 2

Securitization No. 2

Securitization No. 2

Securitization No. 1

Bank Financings, May 2013 [Member]

Bank Financings, February 2014, Fixed Rate Loans [Member]

Bank Financings, December 2013 [Member]

Bank Financings, February 2014, Floating Rate Loans [Member]

Bank Financings, February 2014 [Member]

Bank Financings, February 2014 [Member]

Bank Financings, March 2014 [Member]

Senior Notes Due 2020 [Member]

Senior Notes due 2021 [Member]

Senior Notes due 2021 [Member]

2013 Revolving Credit Facility

HSH Nordbank AG

HSH Nordbank AG

London Interbank Offered Rate (LIBOR)

A-320-200

B-777-300 & A-330-200 [Member]

B-777-300 [Member]

B-777-300 & A-330-200 [Member]

B-777-300 & A-330-200 [Member]

A-320-200

B-737-800 [Member]

Revolving Credit Facility

Aircraft

fixed_loan

Aircraft

variable_loan

Aircraft

variable_loan

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Loan Termination Fee

'

$2,954

'

$2,954

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Available Liquidity

'

'

'

'

'

'

'

65,000

65,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unused Fee

'

'

'

'

'

'

'

0.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, basis spread on variable rate

'

'

'

'

'

'

'

'

'

75.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of debt instruments

'

'

'

'

'

'

'

'

'

'

'

'

'

1

'

2

'

'

2

'

'

'

'

'

Interest rate

'

'

'

'

'

0.00%

[1],[2]

0.46%

[1]

'

'

'

'

'

'

'

'

'

'

'

'

7.63%

[1]

5.13%

[1]

5.13%

9.75%

'

Repayments of Long-term Debt

'

'

827,512

294,064

255,186

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Accrued Interest Payable

'

'

'

'

'

'

'

'

'

'

10,238

10,238

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Call Premium

'

'

'

'

'

'

'

'

'

'

32,835

32,835

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, face amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

303,200

'

'

'

'

500,000

'

'

Term debt financings assumed in asset acquisitions

'

'

39,061

84,721

'

'

'

'

'

'

'

'

'

'

'

'

'

'

40,809

'

'

'

'

'

Number of aircraft acquired

'

'

'

'

'

'

'

'

'

'

'

'

2

'

2

'

'

1

'

'

'

'

'

'

Line of credit facility, current borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

335,000

Write off of Deferred Debt Issuance Cost

$3,735

$3,825

'

$3,825

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Reflects the floating rate in effect at the applicable reset date plus the margin for Securitization No. 2 and six of our Bank Financings. All other financings have a fixed rate.

[2]

In February 2014, we repaid the outstanding amount plus accrued interest and fees due under Securitization No. 1 and terminated the related interest rate derivative, for a total cash payment of $255,186, with proceeds from our December 2013 issuance of our Senior Notes due 2018.

Dividends_Details

Dividends (Details) (USD $)	0 Months Ended						3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	5-May-14	Feb. 21, 2014	Oct. 29, 2013	Aug. 02, 2013	1-May-13	Feb. 18, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Dividends [Abstract]	'	'	'	'	'	'	'	'	'	'
Common Stock, Dividends, Per Share, Declared	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.20	$0.17	$0.40	$0.33
Aggregate Dividend Amount	$16,202	$16,201	$16,163	$13,330	$11,297	$11,268	'	'	'	'

Earnings_Per_Share_Details

Earnings Per Share (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Weighted-average shares:	'	'	'	'
Common shares outstanding	80,389,996	67,828,919	80,388,691	67,862,513
Restricted common shares	643,590	631,368	572,452	508,288
Total Weighted Average Shares	81,033,586	68,460,287	80,961,143	68,370,801
Percentage of weighted-average shares:	'	'	'	'
Common shares outstanding	99.21%	99.08%	99.29%	99.26%
Restricted common shares	0.79%	0.92%	0.71%	0.74%
Total	'	100.00%	100.00%	100.00%

Earnings_Per_Share_Details_1

Earnings Per Share (Details 1) (USD $)	3 Months Ended				6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Earnings Per Share [Abstract]	'		'		'		'
Participating Securities, Distributed and Undistributed Earnings of Net Income, Percent	0.79%		0.92%		0.71%		0.74%
Earnings per share – Basic:	'		'		'		'
Net income (loss)	$3,136		$32,854		$8,913		$55,918
Less: Distributed and undistributed earnings allocated to restricted common shares (a)	-25	[1]	-303	[1]	-63	[1]	-416	[1]
Earnings available to common shareholders – Basic	3,111		32,551		8,850		55,502
Weighted-average common shares outstanding – Basic	80,389,996		67,828,919		80,388,691		67,862,513
Earnings per common share – Basic	$0.04		$0.48		$0.11		$0.82
Earnings per share – Diluted:	'		'		'		'
Net income (loss)	3,136		32,854		8,913		55,918
Less: Distributed and undistributed earnings allocated to restricted common shares (a)	-25	[1]	-303	[1]	-63	[1]	-416	[1]
Earnings available to common shareholders – Diluted	$3,111		$32,551		$8,850		$55,502
Weighted-average common shares outstanding – Basic	80,389,996		67,828,919		80,388,691		67,862,513
Effect of dilutive shares(b)	0	[2]	0	[2]	0	[2]	0	[2]
Weighted-average common shares outstanding – Diluted	80,389,996		67,828,919		80,388,691		67,862,513
Earnings per common share – Diluted	$0.04		$0.48		$0.11		$0.82
[1]	For the three months ended June 30, 2013 and 2014, distributed and undistributed earnings to restricted shares is 0.92% and 0.79% of net income. For the six months ended June 30, 2013 and 2014, distributed and undistributed earnings to restricted shares is 0.74% and 0.71% of net income. The amount of restricted share forfeitures for all periods present is immaterial to the allocation of distributed and undistributed earnings.
[2]	For the three and six months ended June 30, 2013 and 2014, we had no dilutive shares.

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Sources of income from continuing operations before income taxes	'	'	'	'
U.S. operations	$756	$791	$1,521	$1,196
Non-U.S. operations	8,417	35,795	13,862	62,038
Income from continuing operations before income taxes	$9,173	$36,586	$15,383	$63,234

Income_Taxes_Details_1

Income Taxes (Details 1) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Analysis of effective income tax rate for continuing operations	'	'	'	'
Notional U.S. federal income tax expense (benefit) at the statutory rate	$3,211	$12,805	$5,384	$22,132
U.S. state and local income tax, net	40	52	119	86
Non-deductible expenses in the U.S.	19	97	318	199
Other	-7	-8	-22	-16
Income tax provision	6,558	3,732	7,441	7,316
Bermuda [Member]	'	'	'	'
Analysis of effective income tax rate for continuing operations	'	'	'	'
Non-U.S. operations:	'	'	6,240	-12,865
Ireland [Member]	'	'	'	'
Analysis of effective income tax rate for continuing operations	'	'	'	'
Non-U.S. operations:	'	'	-752	-491
Other [Member]	'	'	'	'
Analysis of effective income tax rate for continuing operations	'	'	'	'
Non-U.S. operations:	'	'	-1,369	-1,876
SINGAPORE | Foreign Tax Authority [Member]	'	'	'	'
Analysis of effective income tax rate for continuing operations	'	'	'	'
Non-U.S. operations:	-1,282	171	-2,477	147
Other Foreign Country [Member] | Foreign Tax Authority [Member]	'	'	'	'
Analysis of effective income tax rate for continuing operations	'	'	'	'
Non-U.S. operations:	-771	-806	'	'
IRELAND | Foreign Tax Authority [Member]	'	'	'	'
Analysis of effective income tax rate for continuing operations	'	'	'	'
Non-U.S. operations:	2,537	410	'	'
BERMUDA | Foreign Tax Authority [Member]	'	'	'	'
Analysis of effective income tax rate for continuing operations	'	'	'	'
Non-U.S. operations:	$2,811	($8,989)	'	'

Income_Taxes_Income_Taxes_Text

Income Taxes Income Taxes (Textual) (Details) (USD $)	3 Months Ended			6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Abstract]	'	'	'	'	'
Effective Income Tax Rate, Continuing Operations	71.50%	10.20%	'	48.40%	11.60%
Asset impairment charges, fleet review	'	'	'	'	'

Interest_Net_Details

Interest, Net (Details) (USD $)	3 Months Ended			6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013		Jun. 30, 2014	Jun. 30, 2013
Interest Income (Expense), Net [Abstract]	'	'		'	'
Interest on borrowings, net settlements on interest rate derivatives, and other liabilities (1)	$48,172	$50,823	[1]	$99,857	$99,414	[1]
Hedge ineffectiveness losses	6	-24		59	104
Cash flow hedges reclassified into earnings	8,854	9,711		18,181	17,985
Amortization of deferred financing costs	3,567	6,346	[2]	6,987	8,781	[2]
Interest Expense	60,599	66,856		125,084	126,284
Less interest income	-105	-200		-327	-476
Interest, net	$60,494	$66,656		$124,757	$125,808
[1]	For the three and six months ended June 30, 2013, includes the loan termination fee of $2,954 related to two ECA aircraft sold in June 2013.
[2]	For the three and six months ended June 30, 2013, includes the write-off of deferred financings fees of $3,825 related to the repayment of two ECA Financings.

Interest_Net_Narrative_Details

Interest, Net Narrative (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2013
Debt Instrument [Line Items]	'	'	'
Debt Instrument, Loan Termination Fee	'	$2,954	$2,954
Write off of Deferred Debt Issuance Cost	$3,735	$3,825	$3,825
ECA Term Financings	'	'	'
Debt Instrument [Line Items]	'	'	'
Number of Aircraft Sold	'	'	2
Number Of Repaid Term Financing Loans	'	'	2

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	Jun. 30, 2014	Sep. 30, 2014	Dec. 31, 2014
In Thousands, unless otherwise specified	Aircraft	Subsequent Event [Member]	B-777-300 [Member]
		Aircraft	Subsequent Event [Member]
			Aircraft
Commitments and Contingencies Disclosure [Abstract]	'	'	'
Unrecorded Unconditional Purchase Obligation, Minimum Quantity Required	7	'	'
Unrecorded Unconditional Purchase Obligation	$490,155	'	'
Types of Commercial Aircraft [Line Items]	'	'	'
Aircraft Expected to be Acquired	'	3	4

Derivatives_Details

Derivatives (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified			Interest rate derivatives designated as cash flow hedges	Not Designated as Hedging Instrument	Cash Flow Hedging	Cash Flow Hedging	Cash Flow Hedging	Cash Flow Hedging
			Securitization No. 1	Securitization No. 1	Interest Rate Contract	Interest Rate Contract	Interest Rate Contract	Interest Rate Contract
			London Interbank Offered Rate (LIBOR)	London Interbank Offered Rate (LIBOR)	Interest rate derivatives designated as cash flow hedges	Interest rate derivatives designated as cash flow hedges	Interest rate derivatives designated as cash flow hedges	Interest rate derivatives designated as cash flow hedges
					Securitization No. 2	Securitization No. 2	Securitization No. 2	Derivative Liabilities
						Minimum	Maximum	Securitization No. 2
Derivatives, Fair Value [Line Items]	'	'	'	'	'	'	'	'
Current Notional Amount	'	'	'	'	$422,276	'	'	'
Future Maximum Notional Amount	'	'	'	'	422,276	'	'	'
Floating Rate	'	'	'	'	'1M LIBOR	'	'	'
Fixed Rate	'	'	'	'	'	1.26%	1.28%	'
Derivative liabilities	$4,757	$39,992	'	'	'	'	'	$4,757
Derivative, Basis Spread on Variable Rate	'	'	'	'	'	'	'	'

Derivatives_Details_1

Derivatives (Details 1) (Interest Rate Contract, USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014		Jun. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'		'
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (b)	'	'	$4,044		'
Interest Expense	'	'	'		'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'		'
Amount of Gain or (Loss) Recognized in Income on Derivative (c)	-6	24	-59		-104
Not Designated as Hedging Instrument | Other income (expense) [Member]	'	'	'		'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'		'
Amount of Gain or (Loss) Recognized in Income on Derivative (c)	'	'	681		'
Interest rate derivatives designated as cash flow hedges | Derivatives in ASC 815 Cash Flow Hedging Relationship [Member]	'	'	'		'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'		'
Amount of Gain or (Loss) Recognized in OCI on Derivative (a)	'	'	-3,577	[1]	'
Interest rate derivatives designated as cash flow hedges | Derivatives in ASC 815 Cash Flow Hedging Relationship [Member] | Interest Expense	'	'	'		'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'		'
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (b)	'	'	-22,140	[2]	'
Amount of Gain or (Loss) Recognized in Income on Derivative (c)	'	'	($62)	[3]	'
[1]	This represents the change in fair market value of our interest rate derivatives since year end, net of taxes, offset by the amount of actual cash paid related to the net settlements of the interest rate derivatives for the six months ended June 30, 2014.
[2]	This represents the amount of actual cash paid, net of taxes, related to the net settlements of the interest rate derivatives for the six months ended June 30, 2014 plus any effective amortization of net deferred interest rate derivative losses.
[3]	This represents both realized and unrealized ineffectiveness incurred during the six months ended June 30, 2014.

Derivatives_Details_2

Derivatives (Details 2) (USD $)	3 Months Ended			6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013		Jun. 30, 2014	Jun. 30, 2013
Amortization:	'	'		'	'
Total Amortization	($8,854)	($9,711)		($18,181)	($17,985)
Interest Expense | Interest Rate Contract	'	'		'	'
Interest expense:	'	'		'	'
Hedge ineffectiveness losses	6	-24		59	104
Amortization of Deferred Hedge Losses, Accelerated	3	2,027	[1]	3	2,027	[1]
Amortization:	'	'		'	'
Amortization of loss of designated interest rate derivative	0	404		548	745
Amortization of deferred losses	8,851	7,280		17,630	15,213
Total Amortization	8,854	9,711		18,181	17,985
Total charged to interest expense	8,860	9,687		18,240	18,089
Other income:	'	'		'	'
Total charged to interest expense	8,860	9,687		18,240	18,089
Other Income | Interest Rate Contract	'	'		'	'
Amortization:	'	'		'	'
Total charged to interest expense	0	1,657		681	2,872
Other income:	'	'		'	'
Mark to market gains on undesignated interest rate derivatives	0	1,657		681	2,872
Total charged to interest expense	$0	$1,657		$681	$2,872
[1]	For the three and six months ended June 30, 2013, represents accelerated amortization of deferred hedge losses related to two aircraft sold in June 2013.

Derivatives_Details_Textual

Derivatives (Details Textual) (USD $)	6 Months Ended				6 Months Ended		0 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Feb. 18, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
	Interest rate derivatives designated as cash flow hedges	Interest Rate Contract	Interest Rate Contract	Interest Rate Contract	Terminated Interest Rate Contract [Member]	Term Financing No.1 -- terminated 2012	Securitization Number One [Member]	Securitization Number One [Member]	Term Financing No.1 -- terminated 2008	ECA Term Financings	Other Financings
				Interest rate derivatives designated as cash flow hedges		Terminated Interest Rate Contract [Member]	Terminated Interest Rate Contract [Member]	Terminated Interest Rate Contract [Member]	Terminated Interest Rate Contract [Member]	Terminated Interest Rate Contract [Member]	Terminated Interest Rate Contract [Member]
Derivative [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Weighted Average Interest Pay Rate Of Derivatives	'	1.27%	3.03%	'	'	'	'	'	'	'	'
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred	'	$5,319	'	'	'	$11,313	$26,863	$11,211	$1,227	$5,890	$1,283
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (b)	'	4,044	'	'	17,633	'	'	'	'	'	'
Interest Rate Derivatives Deferred Gain Or Loss Expected To Be Amortized In Next Twelve Months	'	'	'	'	30,924	'	'	'	'	'	'
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion	548	'	'	'	'	'	'	'	'	'	'
Debt Instrument, Accrued Interest Payable	'	'	'	$289	'	'	'	'	'	'	'

Other_Assets_Details

Other Assets (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Principal components of other assets	'	'
Deferred debt issuance costs, net of amortization of $61,104 and $46,996, respectively	$57,848	$52,464
Deferred federal income tax asset	1,046	1,218
Lease incentives and lease premiums, net of amortization of $41,136 and $21,722, respectively	62,119	72,181
Flight equipment held for sale	36,939	9,474
Deposits Assets	3,000	10,000
Other assets	18,280	8,639
Total other assets	179,232	153,976
Amortization of deferred debt issuance costs	46,996	61,104
Amortization of lease incentives and lease premiums	$21,722	$41,136

Accounts_Payable_Accrued_Expen2

Accounts Payable, Accrued Expenses and Other Liabilities (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Payables and Accruals [Abstract]	'	'
Accounts payable and accrued expenses	$21,005	$30,204
Deferred federal income tax liability	38,864	33,178
Accrued interest payable	27,133	39,213
Lease discounts, net of amortization of $6,458 and $4,900 respectively	44,673	9,066
Total accounts payable, accrued expenses and other liabilities	131,675	111,661
Deferred Revenue, Leases, Accumulated Amortization	$4,900	$6,458

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Details) (USD $)	3 Months Ended			6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013	Jun. 30, 2014		Jun. 30, 2013
Accumulated Other Comprehensive Income [Roll Forward]	'		'	'		'
Beginning balance	'		'	($75,905)		'
Net current period other comprehensive income	8,866		17,838	18,563		29,938
Ending balance	-57,342		'	-57,342		'
Tax Expense from Amount Recognized in Other Comprehensive Income Related to Derivatives	0		193	804		311
Interest Expense	60,599		66,856	125,084		126,284
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Contract	'		'	'		'
Accumulated Other Comprehensive Income [Roll Forward]	'		'	'		'
Beginning balance	-66,208	[1]	'	-75,905	[1]	'
Amount recognized in other comprehensive loss on derivatives, net of tax benefit of $15 and tax expense of $721, respectively	-1,197	[1]	'	-3,577	[1]	'
Amount of loss reclassified from accumulated other comprehensive loss into income(c)	10,063	[1]	'	22,140	[1]	'
Net current period other comprehensive income	8,866	[1]	'	18,563	[1]	'
Ending balance	-57,342	[1]	'	-57,342	[1]	'
Tax Expense from Amount Recognized in Other Comprehensive Income Related to Derivatives	-15		'	721		'
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income [Member]	'		'	'		'
Accumulated Other Comprehensive Income [Roll Forward]	'		'	'		'
Amount of loss reclassified from accumulated other comprehensive loss into income(c)	10,063	[2],[3]	'	22,140	[2],[3]	'
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges Amortization [Member] | Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income [Member]	'		'	'		'
Accumulated Other Comprehensive Income [Roll Forward]	'		'	'		'
Interest Expense	8,854	[3],[4]	'	18,181	[3],[4]	'
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges, Net Settlements [Member] | Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income [Member]	'		'	'		'
Accumulated Other Comprehensive Income [Roll Forward]	'		'	'		'
Tax Expense from Amount Reclassified from Accumulated Other Comprehensive Income into Income	15		'	83		'
Interest Expense	$1,209	[3]	'	$3,959	[3]	'
[1]	All amounts are net of tax. Amounts in parentheses indicate debits.
[2]	This represents the effective amounts of actual cash paid related to the net settlements of the interest rate derivatives plus any effective amortization of net deferred interest rate derivative losses (see Note 13. - Derivatives).
[3]	All amounts are net of tax.
[4]	Included in interest expense.