Aircastle (AYR) 10-K 11 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Feb. 05, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	Aircastle LTD
Entity Central Index Key	1,362,988
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,235.9
Entity Common Stock, Shares Outstanding		78,564,901

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 155,904	$ 169,656
Accounts receivable	8,566	3,334
Restricted cash and cash equivalents	98,137	98,884
Restricted liquidity facility collateral	65,000	65,000
Flight equipment held for lease, net of accumulated depreciation of $1,306,024 and $1,294,063, respectively	5,867,062	5,579,718
Net investment in finance and sales-type leases	201,211	106,651
Unconsolidated equity method investment	50,377	46,453
Other assets	123,707	105,450
Total assets	6,569,964	6,175,146
LIABILITIES
Borrowings from secured financings, net of debt issuance costs	1,146,238	1,373,131
Borrowings from unsecured financings, net of debt issuance costs	2,894,918	2,371,456
Accounts payable, accrued expenses and other liabilities	131,058	140,863
Lease rentals received in advance	67,327	53,216
Liquidity facility	65,000	65,000
Security deposits	115,642	117,689
Maintenance payments	370,281	333,456
Total liabilities	$ 4,790,464	$ 4,454,811
Commitments and Contingencies
SHAREHOLDERS’ EQUITY
Preference shares, $.01 par value, 50,000,000 shares authorized, no shares issued and outstanding	$ 0	$ 0
Common shares, $.01 par value, 250,000,000 shares authorized, 80,232,260 shares issued and outstanding at December 31, 2015; and 80,983,249 shares issued and outstanding at December 31, 2014	802	810
Additional paid-in capital	1,550,337	1,565,180
Retained earnings	241,574	192,805
Accumulated other comprehensive loss	(13,213)	(38,460)
Total shareholders’ equity	1,779,500	1,720,335
Total liabilities and shareholders’ equity	$ 6,569,964	$ 6,175,146

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accumulated depreciation on flight equipment held for lease	$ 1,306,024	$ 1,294,063
Borrowings from secured financings	$ 1,146,238	$ 1,373,131
Common shares, par value	$ 0.01	$ 0.01
Common shares, shares authorized	250,000,000	250,000,000
Common shares, shares issued	80,232,260	80,983,249
Common shares, shares outstanding	80,232,260	80,983,249
Preference shares, par value	$ 0.01	$ 0.01
Preference shares, shares authorized	50,000,000	50,000,000
Preference shares, shares issued	0	0
Preference shares, shares outstanding	0	0
Variable Interest Entity, Primary Beneficiary | ACS Ireland
Borrowings from secured financings	$ 0	$ 64,183

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Lease rental revenue	$ 733,417	$ 714,654	$ 644,929
Finance and sales-type lease revenue	7,658	10,906	16,165
Amortization of net lease discounts and lease incentives	(10,664)	(6,172)	(32,411)
Maintenance revenue	71,049	88,006	68,342
Total lease rentals	801,460	807,394	697,025
Other revenue	17,742	11,208	11,620
Total revenues	819,202	818,602	708,645
Expenses:
Depreciation	318,783	299,365	284,924
Interest, net	243,577	238,378	243,757
Selling, general and administrative (including non-cash share based payment expense of $5,537, $4,244 and $4,569, respectively)	56,198	55,773	53,436
Impairment of aircraft	119,835	93,993	117,306
Maintenance and other costs	11,502	7,239	13,631
Total expenses	749,895	694,748	713,054
Other income (expense):
Gain on sale of flight equipment	58,017	23,146	37,220
Gains (Losses) on Extinguishment of Debt	0	(36,570)	0
Other	919	1,207	6,132
Total other income (expense)	58,936	(12,217)	43,352
Income from continuing operations before income taxes and earnings of unconsolidated equity method investment	128,243	111,637	38,943
Income tax provision	12,771	13,863	9,215
Earnings of unconsolidated equity method investment, net of tax	6,257	3,054	53
Net income	$ 121,729	$ 100,828	$ 29,781
Earnings per common share — Basic:
Net income per share (in dollars per share)	$ 1.50	$ 1.25	$ 0.40
Earnings per common share — Diluted:
Net income per share (in dollars per share)	1.50	1.25	0.40
Dividends declared per share (in dollars per share)	$ 0.900	$ 0.820	$ 0.695

Consolidated Statements of Inc5

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Non-cash share based payment expense	$ 5,537	$ 4,244	$ 4,569

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 121,729	$ 100,828	$ 29,781
Other comprehensive income, net of tax:
Net change in fair value of derivatives, net of tax expense of $35, $828 and $482, respectively	1,224	2,466	17,120
Net derivative loss reclassified into earnings	24,023	34,979	33,265
Other comprehensive income	25,247	37,445	50,385
Total comprehensive income	$ 146,976	$ 138,273	$ 80,166

Consolidated Statements of Com7

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net of tax expense	$ 35	$ 828	$ 482

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment, Transfers and Changes	$ 40,327	$ 66,146	$ 53,510
Net income	121,729	100,828	29,781
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	318,783	299,365	284,924
Amortization of deferred financing costs	14,878	13,961	14,719
Amortization of net lease discounts and lease incentives	10,664	6,172	32,411
Deferred income taxes	(6,889)	2,863	4,416
Non-cash share based payment expense	5,537	4,244	4,569
Cash flow hedges reclassified into earnings	24,023	34,979	33,265
Security deposits and maintenance payments included in earnings	(35,843)	(107,031)	(60,112)
Gain on the sale of flight equipment	(58,017)	(23,146)	(37,220)
Gains (Losses) on Extinguishment of Debt	0	36,570	0
Impairment of aircraft	119,835	93,993	117,306
Other	(896)	(878)	(5,323)
Changes on certain assets and liabilities:
Accounts receivable	(5,406)	(509)	3,397
Other assets	(5,033)	(11,146)	1,164
Accounts payable, accrued expenses and other liabilities	7,255	1,345	3,016
Lease rentals received in advance	15,665	7,176	(2,276)
Net cash provided by operating activities	526,285	458,786	424,037
Cash flows from investing activities:
Acquisition and improvement of flight equipment	(1,320,669)	(1,672,460)	(1,263,706)
Proceeds from sale of flight equipment	562,518	832,961	568,045
Restricted cash and cash equivalents related to sale of flight equipment	(17,000)	0	0
Aircraft purchase deposits and progress payments, net of returned deposits and aircraft sales deposits	(6,812)	0	(6,094)
Net investment in finance leases	(91,648)	(14,258)	(11,595)
Collections on finance and sales-type leases	9,559	10,312	9,508
Unconsolidated equity method investment and associated costs	0	(18,255)	(20,189)
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	0	667	0
Principal repayments on debt investment	0	0	42,001
Other	(610)	(569)	(903)
Net cash used in investing activities	(864,662)	(861,602)	(682,933)
Proceeds from (Repurchase of) Equity	(20,881)	(2,092)	197,437
Cash flows from financing activities:
Proceeds from secured and unsecured debt financings	975,000	1,003,200	563,230
Repayments of secured and unsecured debt financings	(681,393)	(984,517)	(510,162)
Deferred financing costs	(11,881)	(15,843)	(10,865)
Restricted secured liquidity facility collateral	0	42,000	0
Liquidity facility	0	(42,000)	0
Restricted cash and cash equivalents related to financing activities	17,747	23,889	(10,831)
Payments of Debt Extinguishment Costs	0	(32,835)	0
Security deposits and maintenance payments received	152,391	178,805	200,678
Security deposits and maintenance payments returned	(33,398)	(152,900)	(82,137)
Payments for terminated cash flow hedges	0	(33,427)	0
Dividends paid	(72,960)	(66,421)	(52,058)
Net cash provided by (used in) financing activities	324,625	(82,141)	295,292
Net increase in cash and cash equivalents	(13,752)	(484,957)	36,396
Cash and cash equivalents at beginning of year	169,656	654,613	618,217
Cash and cash equivalents at end of year	155,904	169,656	654,613
Supplemental disclosures of cash flow information:
Cash paid during the year for interest	195,162	201,611	195,350
Cash paid during the year for income taxes	12,716	5,144	487
Supplemental disclosures of non-cash investing activities:
Security deposits, maintenance liabilities and other liabilities settled in sale of flight equipment	107,396	84,215	58,862
Advance lease rentals, security deposits and maintenance reserves assumed in asset acquisitions	13,307	56,298	88,882
Term debt financings assumed in asset acquisitions	$ 0	$ 39,061	$ 84,721

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2012	$ 1,415,626	$ 686	$ 1,360,555	$ 180,675	$ (126,290)
Beginning Balance (in shares) at Dec. 31, 2012		68,639,729
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares to stockholders, directors and employees		$ 128	205,130
Issuance of common shares to stockholders, directors and employees (in shares)		12,796,051
Repurchase of common shares from directors and employees	(7,821)	$ (6)	(7,815)
Repurchase of common shares from directors and employees (in shares)		(628,805)
Amortization of share based payments	4,569		4,569
Excess tax benefit from stock based compensation			(333)
Dividends declared	(52,058)			(52,058)
Net income	29,781			29,781
Net change in fair value of derivatives, net of tax expense of $35, $828 and $482, respectively	17,120				17,120
Net derivative loss reclassified into earnings	33,265				33,265
Beginning Balance (in shares) at Dec. 31, 2013		80,806,975
Beginning Balance at Dec. 31, 2013	1,645,407	$ 808	1,562,106	158,398	(75,905)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares to stockholders, directors and employees	0	$ 4	(4)
Issuance of common shares to stockholders, directors and employees (in shares)		354,547
Repurchase of common shares from directors and employees	(2,092)	$ (2)	(2,090)
Repurchase of common shares from directors and employees (in shares)		(178,273)
Amortization of share based payments	4,244		4,244
Excess tax benefit from stock based compensation	924		924
Dividends declared	(66,421)			(66,421)
Net income	100,828			100,828
Net change in fair value of derivatives, net of tax expense of $35, $828 and $482, respectively	2,466				2,466
Net derivative loss reclassified into earnings	$ 34,979				34,979
Beginning Balance (in shares) at Dec. 31, 2014	80,983,249	80,983,249
Beginning Balance at Dec. 31, 2014	$ 1,720,335	$ 810	1,565,180	192,805	(38,460)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares to stockholders, directors and employees		$ 3	(3)
Issuance of common shares to stockholders, directors and employees (in shares)		306,593
Repurchase of common shares from directors and employees	(20,881)	$ (11)	(20,870)
Repurchase of common shares from directors and employees (in shares)		(1,057,582)
Amortization of share based payments	5,537		5,537
Excess tax benefit from stock based compensation	493		493
Dividends declared	(72,960)			(72,960)
Net income	121,729			121,729
Net change in fair value of derivatives, net of tax expense of $35, $828 and $482, respectively	1,224				1,224
Net derivative loss reclassified into earnings	$ 24,023				(24,023)
Beginning Balance (in shares) at Dec. 31, 2015	80,232,260	80,232,260
Beginning Balance at Dec. 31, 2015	$ 1,779,500	$ 802	$ 1,550,337	$ 241,574	$ (13,213)

Consolidated Statements of Ch10

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Tax effect of change in fair value of derivatives	$ 35	$ 828	$ 482
Accumulated Other Comprehensive Income (Loss)
Tax effect of change in fair value of derivatives	$ 35	$ 828	$ 482

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	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. 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 (“U.S. GAAP”). The Company manages, analyzes and reports on its business and results of operations on the basis of one operating segment: leasing, financing, selling and managing commercial flight equipment. Our chief executive officer is the chief operating decision maker. The Company’s management has reviewed and evaluated all events or transactions for potential recognition and/or disclosure since the balance sheet date of December 31, 2015 through the date on which the consolidated financial statements included in this Form 10-K were issued. Effective July 1, 2015, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015-03, Interest - Imputation of Interest (Subtopic 835-30) Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. The guidance in the new standard is limited to the presentation of debt issuance costs and does not affect the recognition and measurement of debt issuance costs. The standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The new guidance is applied on a retrospective basis. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. 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. Risk and Uncertainties In the normal course of business, Aircastle encounters several significant types of economic risk including credit, market, aviation industry and capital market risks. Credit risk is the risk of a lessee’s inability or unwillingness to make contractually required payments and to fulfill its other contractual obligations. Market risk reflects the change in the value of derivatives and financings due to changes in interest rate spreads or other market factors, including the value of collateral underlying derivatives and financings. Aviation industry risk is the risk of a downturn in the commercial aviation industry which could adversely impact a lessee’s ability to make payments, increase the risk of unscheduled lease terminations and depress lease rates and the value of the Company’s aircraft. Capital market risk is the risk that the Company is unable to obtain capital at reasonable rates to fund the growth of our business or to refinance existing debt facilities. Use of Estimates The preparation of financial statements in conformity with U.S. 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. Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Aircastle considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. Restricted cash and cash equivalents consists primarily of rent collections, maintenance payments and security deposits received from lessees pursuant to the terms of various lease agreements held in lockbox accounts in accordance with our financings. Changes in restricted cash and cash equivalents related to rent collections are reflected within operating activities of our Consolidated Statements of Cash Flows for non-cash trapped financings. Changes in restricted cash and cash equivalents related to rent collections are reflected within financing activities of our Consolidated Statements of Cash Flows for cash trapped financings. Changes in restricted cash related to the sale of flight equipment are reflected within investing activities of our Consolidated Statements of Cash Flows. Changes in restricted cash and cash equivalents related to maintenance payments and security deposits are reflected within financing activities of our Consolidated Statements of Cash Flows. Virtually all of our cash and cash equivalents and restricted cash and cash equivalents are held by three major financial institutions. Flight Equipment Held for Lease and Depreciation Flight equipment held for lease is stated at cost and depreciated using the straight-line method, typically over a 25 -year life from the date of manufacture for passenger aircraft and over a 30 to 35 -year life for freighter aircraft, depending on whether the aircraft is a converted or purpose-built freighter, to estimated residual values. Estimated residual values are generally determined to be approximately 15% of the manufacturer’s estimated realized price for passenger aircraft when new and 5% to 10% for freighter aircraft when new. Management may make exceptions to this policy on a case-by-case basis when, in its judgment, the residual value calculated pursuant to this policy does not appear to reflect current expectations of value. Examples of situations where exceptions may arise include but are not limited to: • flight equipment where estimates of the manufacturer’s realized sales prices are not relevant (e.g., freighter conversions); • flight equipment where estimates of the manufacturers’ realized sales prices are not readily available; and • flight equipment which may have a shorter useful life due to obsolescence. Major improvements and modifications incurred in connection with the acquisition of aircraft that are required to get the aircraft ready for initial service are capitalized and depreciated over the remaining life of the flight equipment. For planned major maintenance activities for aircraft off-lease, the Company capitalizes the actual maintenance costs by applying the deferral method. Under the deferral method, we capitalize the actual cost of major maintenance events, which are depreciated on a straight-line basis over the period until the next maintenance event is required. In accounting for flight equipment held for lease, we make estimates about the expected useful lives, the fair value of attached leases, acquired maintenance liabilities and the estimated residual values. In making these estimates, we rely upon actual industry experience with the same or similar aircraft types and our anticipated lessee’s utilization of the aircraft. When we acquire an aircraft with a lease, determining the fair value of attached leases requires us to make assumptions regarding the current fair values of leases for specific aircraft. We estimate a range of current lease rates of like aircraft in order to determine if the attached lease is within a fair value range. If a lease is below or above the range of current lease rates, we present value the estimated amount below or above the fair value range over the remaining term of the lease. The resulting lease discount or premium is amortized into lease rental income over the remaining term of the lease. Impairment of Flight Equipment We perform a recoverability assessment of all aircraft in our fleet, on an aircraft-by-aircraft basis annually during the third quarter. In addition, a recoverability assessment is performed whenever events or changes in circumstances, or indicators, suggest that the carrying amount or net book value of an asset may not be recoverable. Indicators may include, but are not limited to, a significant lease restructuring or early lease termination, significant change in aircraft model’s storage levels, the introduction of newer technology aircraft or engines, an aircraft type is no longer in production or a significant airworthiness directive is issued. When we perform a recoverability assessment, we measure whether the estimated future undiscounted net cash flows expected to be generated by the aircraft exceed its net book value. The undiscounted cash flows consist of cash flows from currently contracted lease rental and maintenance payments, future projected lease rates, transition costs, estimated down time, estimated residual or scrap values for an aircraft, economic conditions and other factors. In the event that an aircraft does not meet the recoverability test, the aircraft will be adjusted to fair value, resulting in an impairment charge. See Note 2 — Fair Value Measurements. Management develops the assumptions used in the recoverability analysis based on current and future expectations of the global demand for a particular aircraft type and historical experience in the aircraft leasing market and aviation industry, as well as information received from third party industry sources. The factors considered in estimating the undiscounted cash flows are impacted by changes in future periods due to changes in projected lease rental and maintenance payments, residual values, economic conditions, technology, airline demand for a particular aircraft type and other factors. In monitoring the aircraft in our fleet for impairment charges, we identify those aircraft that are most susceptible to failing the recoverability assessment and monitor those aircraft more closely, which may result in more frequent recoverability assessments. The recoverability in the value of these aircraft is more sensitive to changes in contractual cash flows, future cash flow estimates and residual values or scrap values for each aircraft. These are typically older aircraft for which lessee demand is declining. Net Investment in Finance and Sales-Type Leases If a lease meets specific criteria at the inception or at any lease modification date, we recognize the lease as a Net investment in finance and sales-type leases on our Consolidated Balance Sheets. For sales-type leases, we recognize the difference between the net book value of the aircraft and the Net investment in finance and sales-type leases as a gain or loss on sale of fight equipment, less any initial direct costs and lease incentives . The Net investment in finance and sales-type leases consists of lease receivables, less the unearned income, plus the estimated unguaranteed residual value of the leased flight equipment at the lease end date. The unearned income is recognized as Finance and sales-type lease revenue in our Consolidated Statements of Income over the lease term in a manner that produces a constant rate of return on the Net investment in finance and sales-type leases. Collectability of finance and sales-type leases is evaluated periodically on an individual customer level. The evaluation of the collectability of the finance and sales-type leases considers the credit of the lessee and the value of the underlying aircraft. An allowance for credit losses is established if there is evidence that we will be unable to collect all amounts due according to the original contractual terms of the Net investment in finance and sales-type leases. At December 31, 2015 , we had no allowance for credit losses for our Net investment in finance and sales-type leases. When collectability is not reasonably assured, the customer is placed on non-accrual status, and revenue is recognized when cash payments are received. Unconsolidated Equity Method Investment Aircastle accounts for its interest in an unconsolidated joint venture using the equity method as we do not control the joint venture entity. Under the equity method, the investment is initially recorded at cost and the carrying amount is affected by its share of the unconsolidated joint venture’s undistributed earnings and losses, and distributions of dividends and capital. Security Deposits Most of our operating leases require the lessee to pay Aircastle a security deposit or provide a letter of credit. Security deposits represent cash received from the lessee that is held on deposit until lease expiration. Aircastle’s operating leases also obligate the lessees to maintain flight equipment and comply with all governmental requirements applicable to the flight equipment, including without limitation, operational, maintenance, registration requirements and airworthiness directives. Maintenance Payments Typically, under an operating lease, the lessee is responsible for performing all maintenance but might be required to make payments to us for heavy maintenance, overhaul or replacement of certain high-value components of the aircraft. These maintenance payments are based on hours or cycles of utilization or on calendar time, depending upon the component, and are required to be made monthly in arrears or at the end of the lease term. Whether to permit a lessee to make maintenance payments at the end of the lease term, rather than requiring such payments to be made monthly, depends on a variety of factors, including the creditworthiness of the lessee, the level of security deposit which may be provided by the lessee and market conditions at the time we enter into the lease. If a lease requires monthly maintenance payments, we would typically be obligated to reimburse the lessee for costs they incur for heavy maintenance, overhaul or replacement of certain high-value components to the extent of maintenance payments received in respect of the specific maintenance event, usually shortly following completion of the relevant work. If a lease requires end of lease term maintenance payments, typically the lessee would be required to pay us for its utilization of the aircraft during the lease; however, in some cases, we may owe a net payment to the lessee in the event heavy maintenance is performed and paid for by the lessee during the lease term and the aircraft is returned to us in better condition that at lease inception. We record monthly maintenance payments by the lessee as accrued maintenance payments liabilities in recognition of our contractual commitment to refund such receipts. In these contracts, we do not recognize such maintenance payments as maintenance revenue during the lease. Reimbursements to the lessee upon the receipt of evidence of qualifying maintenance work are charged against the existing accrued maintenance payments liability. We currently defer maintenance revenue recognition of all monthly maintenance payments collected until the end of the lease, when we are able to determine the amount, if any, by which the monthly maintenance payments received from a lessee exceed costs to be incurred by that lessee in performing heavy maintenance. End of lease term maintenance payments made to us are recognized as maintenance revenue, and end of lease term maintenance payments we make to a lessee are recorded as contra maintenance revenue. Lease Incentives and Amortization Many of our leases contain provisions which may require us to pay a portion of the lessee’s costs for heavy maintenance, overhaul or replacement of certain high-value components. We account for these expected payments as lease incentives, which are amortized as a reduction of revenue over the life of the lease. We estimate the amount of our portion for such costs, typically for the first major maintenance event for the airframe, engines, landing gear and auxiliary power units, expected to be paid to the lessee based on assumed utilization of the related aircraft by the lessee, the anticipated amount of the maintenance event cost and the estimated amounts the lessee is responsible to pay. This estimated lease incentive is not recognized as a lease incentive liability at the inception of the lease. We recognize the lease incentive as a reduction of lease revenue on a straight-line basis over the life of the lease, with the offset being recorded as a lease incentive liability which is included in maintenance payments on the balance sheet. The payment to the lessee for the lease incentive liability is first recorded against the lease incentive liability, and any excess above the lease incentive liability is recorded as a prepaid lease incentive asset, which is included in other assets on the balance sheet and continues to amortize over the remaining life of the lease. Lease acquisition costs related to reconfiguration of the aircraft cabin, other lessee specific modifications and other direct costs are capitalized and amortized into revenue over the initial life of the lease, assuming no lease renewals, and are included in other assets. Income Taxes Aircastle uses an asset and liability based approach in accounting for income taxes. Deferred income tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statement and tax basis of existing assets and liabilities using enacted rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount estimated by us to be realizable. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. We did not have any unrecognized tax benefits. Lease Revenue Recognition We lease flight equipment under net operating leases with lease terms typically ranging from three to seven years. We generally do not offer renewal terms or purchase options in our leases, although certain of our operating leases allow the lessee the option to extend the lease for an additional term. Operating leases with fixed rentals and step rentals are recognized on a straight-line basis over the term of the initial lease, assuming no renewals. Operating lease rentals that adjust based on a London Interbank Offered Rate (“LIBOR”) index are recognized on a straight-line basis over the period the rentals are fixed and accruable. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the customer is placed on non-accrual status, and revenue is recognized when cash payments are received. Comprehensive Income Comprehensive income consists of net income and other gains and losses, net of income taxes, if any, affecting shareholders’ equity that, under U.S. GAAP, are excluded from net income. At December 31, 2015 and 2014 , such amount consists of the effective portion of fluctuations in the fair value of derivatives designated as cash flow hedges. Share Based Compensation Aircastle recognizes compensation cost relating to share-based payment transactions in the financial statements based on the fair value of the equity instruments issued. Aircastle uses the straight-line method of accounting for compensation cost on share-based payment awards that contain pro-rata vesting provisions. Deferred Financing Costs Deferred financing costs, which are included in borrowings from secured and unsecured financings, net of debt issuance costs, in the Consolidated Balance Sheets, are amortized using the interest method for amortizing loans over the lives of the relevant related debt. Proposed Accounting Pronouncements We anticipate the FASB will issue Accounting Standards Codification (“ASC”) 842 (“ASC 842”), “ Leases ” which will replace the existing guidance in ASC 840, Leases, in early 2016. Based on the FASB’s tentative decisions, the accounting for leases by lessors would basically remain unchanged from the concepts existing in current ASC 840 accounting. The FASB tentatively decided that lessors would 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 standard will be effective for public entities beginning after December 15, 2018. Based on the original Leases re-exposure draft and the FASB’s tentative decisions, we believe the standard will not have a material impact on our consolidated financial statements. We do not believe that the adoption of the standard will significantly impact our existing or potential lessees' economic decisions to lease aircraft. 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, 2017. 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. We are in the process of determining the impact the standard will have on our consolidated financial statements and related disclosures. On August 27, 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40). The standard requires management of public companies to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management should evaluate whether there are conditions or events, considered in the aggregate, that raises substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or available to be issued, when applicable). The standard is effective for annual periods ending after December 15, 2016 and interim periods thereafter, and early adoption is permitted. We believe the standard will not have a material impact on our consolidated financial statements and related disclosures. In February 2015, the FASB issued ASU No. 2015-02, Consolidation - Amendments to the Consolidation Analysis (Topic 810). The update amends the guidelines for determining whether certain legal entities should be consolidated and reduces the number of consolidation models. This new standard affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. This standard will be effective for interim and annual reporting periods beginning on January 1, 2016. The standard may be applied retrospectively or through a cumulative effect adjustment to equity as of the beginning of the year of adoption. We adopted the standard on its required effective date of January 1, 2016. The standard will not have a material impact on our consolidated financial statements and related disclosures.

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Notes)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	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, 2015 and 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 as of December 31, 2015 Fair Value Measurements at December 31, 2015 Using Fair Value Hierarchy Level 1 Level 2 Level 3 Valuation Technique Assets : Cash and cash equivalents $ 155,904 $ 155,904 $ — $ — Market Restricted cash and cash equivalents 98,137 98,137 — — Market Total $ 254,041 $ 254,041 $ — $ — Liabilities : Derivative liabilities $ 1,283 $ — $ 1,283 $ — Income Fair Value Fair Value Measurements at December 31, 2014 Using Fair Value Hierarchy Level 1 Level 2 Level 3 Valuation Assets : Cash and cash equivalents $ 169,656 $ 169,656 $ — $ — Market Restricted cash and cash equivalents 98,884 98,884 — — Market Total $ 268,540 $ 268,540 $ — $ — Liabilities : Derivative liabilities $ 2,879 $ — $ 2,879 $ — 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. For the years ended December 31, 2015 and 2014 , we had no transfers into or out of Level 3. We measure the fair value of certain assets and liabilities on a non-recurring basis, when U.S. 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 Annual Fleet-Wide Review We perform our annual fleet-wide recoverability assessment during the third quarter. This recoverability assessment is a comparison of the carrying value of each aircraft to its undiscounted expected future cash flows. We develop the assumptions used in the recoverability assessment, including those relating to current and future demand for each aircraft type, based on management’s experience in the aircraft leasing industry, as well as information received from third-party sources. Estimates of the undiscounted cash flows for each aircraft type are impacted by changes in contracted and future expected lease rates, residual values, expected scrap values, economic conditions and other factors. In our 2015 assessment, we reduced forecasted future cash flows for our six Boeing 747-400 converted freighter aircraft not subject to sales agreements, all of which are more than twenty years old. Our new forecast reflects the persisting glut of supply in the air cargo market resulting from weak growth in demand combined with the growth in capacity arising from new production air freighters and higher belly capacity in latest generation wide-body passenger aircraft. In addition to these market-wide impacts, our older freighters were affected specifically by the imposition of age limits in certain countries and by lower utilization levels. As a result, we determined that each of our older converted freighter aircraft was on its last lease, and we reduced our residual value assumptions for these aircraft and expect to scrap them following lease expiry. During the third quarter of 2015, we therefore impaired four of these aircraft, which had an aggregate net book value as of August 31, 2015 of $115,888 , writing down their book values by a total of $34,575 , with a fair value date of September 1, 2015. For one of these aircraft, we recorded maintenance revenue of $5,858 , as we no longer plan to reinvest these funds. In the 2014 assessment, we determined that the cash flows expected to be generated by two of our McDonnell Douglas MD-11 freighter aircraft did not support their carrying values. As a result, during the third quarter of 2014, we impaired these two aircraft, which had an aggregate net book value as of June 30, 2014 of $53,777 , writing down their book values by a total of $19,515 . We also shortened their expected lives from 25 to 21 years and reduced their residual values. Other Impairments In December 2015, one of our Airbus A330-300 aircraft was returned to us early as a result of a lease termination. We elected not to reinvest in certain major maintenance needed to release this aircraft and instead have classified it as held for sale. As a result, we recorded an impairment of $16,896 for this aircraft, partially offset by maintenance revenue of $9,055 , reversed lease incentives of $4,487 and other revenue of $1,778 . In September 2015, MAS informed us that it was effectively rejecting the lease on our Boeing 777-200ER aircraft as part of its restructuring. This aircraft, which was manufactured in 1998, was the only aircraft we had on lease to MAS. We repossessed it in October 2015. We reduced the carrying value of this aircraft to our best estimate of scrap value. While we had not decided to dispose of the aircraft, this write-down was driven by weak overall demand tor older wide-body aircraft, an increase in the supply of competing aircraft and the difficulty of recovering high redeployment costs given the proliferation of aircraft age limits across the world. This write-down resulted in an impairment of $37,770 , partially offset by $1,200 of other revenue from a letter of credit we drew following the lease rejection. Also in September 2015, we modified the lease agreement with respect to one Airbus A321-200 aircraft. We elected not to reinvest in certain major maintenance events during the lease term, and the lessee agreed to release its rights to certain maintenance payments. As a result, we recorded an impairment of $6,058 and maintenance revenue of $7,109 for this aircraft. In the second quarter of 2015, we impaired two McDonnell Douglas MD-11 freighter aircraft and one Boeing 737-800 aircraft and recorded impairment charges totaling $23,955 and maintenance revenue of $18,234 . During 2014, we impaired three Boeing 747-400 converted freighter aircraft, two Boeing 737-400 aircraft, two Airbus A320-200 aircraft and one Boeing 757-200 aircraft and recorded impairment charges totaling $ 73,557 . For these aircraft, we recorded maintenance revenue of $ 51,627 and other revenue of $ 698 and reversed lease incentives of $ 4,081 . Other than the aircraft discussed above, management believes that the net book value of each of our aircraft is currently supported by the estimated future undiscounted cash flows expected to be generated by that aircraft, and accordingly, no other aircraft were impaired as a consequence of this recoverability assessment. However, if our estimates or assumptions change, we may revise our cash flow assumptions and record future impairment charges. While we believe that the estimates and related assumptions used in the recoverability assessment are appropriate, actual results could differ from those estimates. 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 No. 2, 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, 2015 and 2014 are as follows: December 31, 2015 December 31, 2014 Carrying Amount of Liability Fair Value of Liability Carrying Amount of Liability Fair Value of Liability Securitizations $ 125,366 $ 123,696 $ 391,680 $ 376,752 Credit Facilities 225,000 225,000 200,000 200,000 ECA term financings 404,491 422,640 449,886 471,918 Bank financings 636,970 653,699 554,888 560,285 Senior Notes 2,700,000 2,832,125 2,200,000 2,300,615 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 Fligh

Lease Rental Revenues and Flight Equipment Held for Lease	12 Months Ended
	Dec. 31, 2015
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 December 31, 2015 were as follows: Year Ending December 31, Amount 2016 $ 706,122 2017 625,842 2018 553,790 2019 484,976 2020 414,926 Thereafter 1,173,535 Total $ 3,959,191 The classification of regions in the tables below is determined based on the principal location of the lessee of each aircraft. Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows: Year Ended December 31, Region 2015 2014 2013 Europe 28 % 29 % 33 % Asia and Pacific 42 % 40 % 38 % North America 5 % 9 % 10 % Middle East and Africa 9 % 9 % 10 % South America 16 % 13 % 9 % Total 100 % 100 % 100 % The following table shows the number of lessees with lease rental revenue of at least 5% and their combined total percentage of lease rental revenue for the years indicated: Year Ending December 31, 2015 2014 2013 Number of Lessees Combined % of Lease Rental Revenue Number of Lessees Combined % of Lease Rental Revenue Number of Lessees Combined % of Lease Rental Revenue Largest lessees by lease rental revenue 3 17.00 % 3 17.00 % 4 24.00 % The following table sets forth revenue attributable to individual countries representing at least 10% of total revenue (including maintenance revenue) in any year based on each lessee’s principal place of business for the years indicated: Year Ending December 31, 2015 2014 2013 Country Revenue % of Total Revenue Revenue % of Total Revenue Revenue % of Total Revenue Russia (1) $ — — % $ 86,512 11 % $ — — % United States (2) — — % — — % 74,274 10 % ______________ (1) Total revenue attributable to Russia was less than 10% for the twelve months ended December 31, 2015 and 2013. For the twelve months ended December 31, 2014, includes $29,867 of maintenance revenue related to early lease terminations. (2) Total revenue attributable to the United States was less than 10% for the twelve months ended December 31, 2015 and 2014. Geographic concentration of net book value of flight equipment held for lease was as follows: December 31, 2015 December 31, 2014 Region Number of Aircraft Net Book Value % Number of Aircraft Net Book Value % Asia and Pacific 49 39 % 46 40 % Europe 64 26 % 65 29 % South America 22 19 % 13 14 % Middle East and Africa 9 10 % 6 10 % North America 17 6 % 17 7 % Off-lease 1 (1) — % 1 (2) — % Total 162 100 % 148 100 % ______________ (1) Consisted of one Boeing 777-200ER aircraft that was being marketed for lease at December 31, 2015. (2) Consisted of one Airbus A320-200 aircraft, which was subject to a commitment to lease and was delivered to our customer in February 2015. At December 31, 2015, three lessees in Indonesia represented 11% , or $661,178 , of net book value of flight equipment based on each lessee’s principal place of business. At December 31, 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, 2015 and 2014 , the amounts of lease incentive liabilities recorded in maintenance payments on the Consolidated Balance Sheets were $ 21,432 and $22,833 , respectively.

Net Investment in Finance Lease

Net Investment in Finance Leases	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Net Investment in Finance Leases	Net Investment in Finance and Sales-Type Leases At December 31, 2015 , our net investment in finance and sales-type leases represents seven aircraft leased to two customers in the United States, one aircraft leased to a customer in the Netherlands and three aircraft leased to two customers in Germany. The following table lists the components of our net investment in finance and sales-type leases at December 31, 2015 : Amount Total lease payments to be received $ 156,364 Less: Unearned income (69,175 ) Estimated residual values of leased flight equipment (unguaranteed) 114,022 Net investment in finance and sales-type leases $ 201,211 At December 31, 2015 , minimum future lease payments on finance and sales-type leases are as follows: Year Ending December 31, Amount 2016 $ 26,075 2017 24,247 2018 18,625 2019 18,545 2020 17,690 Thereafter 51,182 Total lease payments to be received $ 156,364

Unconsolidated Equity Method In

Unconsolidated Equity Method Investment	12 Months Ended
	Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Unconsolidated Equity Method Investment	Unconsolidated Equity Method Investment On December 19, 2013, the Company and an affiliate of Teachers’ formed a joint venture (the “JV”), in which we have a 30% equity interest, to invest in leased aircraft. Teachers’ currently holds 10.0% of our outstanding common shares. We source and service investments in this joint venture and provide marketing, asset management and administrative services to it and are paid market-based fees for those services, which are recorded in Other revenue in our Consolidated Statements of Income. The Company has recorded in its Consolidated Balance Sheet a $6,670 guarantee liability in Maintenance payments and a $5,400 guarantee liability in Security deposits representing its share of the respective exposures. Amount Investment in joint venture at December 31, 2013 $ 21,123 Investment in joint venture 26,050 Earnings from joint venture, net of tax 3,054 Distributions (3,774 ) Investment in joint venture at December 31, 2014 46,453 Investment in joint venture 3,394 Earnings from joint venture, net of tax 6,257 Distributions (5,727 ) Investment in joint venture at December 31, 2015 $ 50,377

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [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 12 aircraft discussed below. Securitizations 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. 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 impact 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 the 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 December 31, 2015 , the assets of ACS Ireland 2 include four aircraft transferred into the VIEs at historical cost basis in connection with Securitization No. 2. The assets of ACS Ireland 2, net of intercompany receivables, as of December 31, 2015 are $ 65,952 . The liabilities of ACS Ireland 2, net of $40,351 Class E-1 Securities held by the Company and intercompany payables, which are eliminated in consolidation, as of December 31, 2015 are $42,140 . 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. The related aircraft, with a net book value as of December 31, 2015 of $ 619,530 , were included in our flight equipment held for lease. The consolidated debt outstanding, net of debt issuance costs, of the Air Knight VIEs as of December 31, 2015 is $ 390,712 .

Borrowings from Secured and Uns

Borrowings from Secured and Unsecured Debt Financings	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Borrowings from Secured and Unsecured Debt Financings	Borrowings from Secured and Unsecured Debt Financings The outstanding amounts of our secured and unsecured term debt financings were as follows: At December 31, 2015 At December 31, 2014 Debt Obligation Outstanding Borrowings Number of Aircraft Interest Rate (1) Final Stated Maturity Outstanding Borrowings Secured Debt Financings: Securitization No. 2 (2) $ 125,366 23 0.59% 06/14/37 $ 391,680 ECA Term Financings 404,491 8 3.02% to 3.96% 12/03/21 to 11/30/24 449,886 Bank Financings 636,970 13 1.32% to 5.09% 10/26/17 to 01/19/26 554,888 Less: Debt Issuance Costs (20,589 ) (23,323 ) Total secured debt financings, net of debt issuance costs 1,146,238 44 1,373,131 Unsecured Debt Financings: Senior Notes due 2017 500,000 6.750% 04/15/17 500,000 Senior Notes due 2018 400,000 4.625% 12/05/18 400,000 Senior Notes due 2019 500,000 6.250% 12/01/19 500,000 Senior Notes due 2020 300,000 7.625% 04/15/20 300,000 Senior Notes due 2021 500,000 5.125% 03/15/21 500,000 Senior Notes due 2022 500,000 5.500% 02/15/22 — Revolving Credit Facility 225,000 2.672% 05/13/19 200,000 Less: Debt Issuance Costs (30,082 ) (28,544 ) Total unsecured debt financings, net of debt issuance costs 2,894,918 2,371,456 Total secured and unsecured debt financings, net of debt issuance costs $ 4,041,156 $ 3,744,587 _______________ (1) Reflects the floating rate in effect at the applicable reset date plus the margin for Securitization No. 2, three of our Bank Financings and our Revolving Credit Facility. 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. The following securitization structure includes liquidity facility commitments described in the table below: Facility Liquidity Facility Provider Available Liquidity Unused Fee Interest Rate on any Advances December 31, December 31, Securitization No. 2 HSH Nordbank AG $ 65,000 $ 65,000 0.50% 1 M Libor + 0.75 The purpose of this facility is to provide liquidity for Securitization No. 2 in the event that cash flow from lease contracts and other revenue sources is not sufficient to pay operating expenses with respect to the aircraft portfolio, interest payments and interest rate hedging payments for Securitization No. 2. Secured Debt Financings: ECA Term Financings As described in Note 6 - Variable Interest Entities, we refer to our COFACE-supported financings as “ECA Term Financings.” In addition, Aircastle has guaranteed the repayment of the ECA Term Financings. The borrowings under these financings at December 31, 2015 have a weighted average rate of interest of 3.57% . Bank Financings In May 2015, we entered into two floating rate loans with The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Development Bank of Japan Inc. These loans, which total $150,000 , are secured by two A330-300 aircraft that we acquired in the fourth quarter of 2014. Our Bank Financings contain, among other customary provisions, a $500,000 minimum net worth covenant and, in some cases, a cross-default to other financings with the same lender. In addition, Aircastle has guaranteed the repayment of the Bank Financings. The borrowings under these financings at December 31, 2015 have a weighted average rate of interest of 3.23% . Unsecured Debt Financings: Senior Notes due 2022 On January 15, 2015, Aircastle Limited issued $500,000 aggregate principal amount of Senior Notes due 2022 (the “2022 Senior Notes”). The 2022 Senior Notes will mature on February 15, 2022 and bear interest at the rate of 5.50% per annum, payable semi-annually on February 15 and August 15 of each year, commencing on August 15, 2015. Interest will accrue on the 2022 Senior Notes from January 15, 2015. The Company may redeem the Senior Notes due 2022 at any time at a redemption price equal to (a) 100% of the principal amount of the notes redeemed, plus accrued and unpaid interest thereon to, but not including, the redemption date and (b) the sum of the present values of the remaining scheduled payments of principal and interest on the notes from the redemption date through the maturity date of the notes (computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points), plus accrued and unpaid interest to, but not including, the redemption date. In addition, on or before February 15, 2018, we may redeem up to 35% of the aggregate principal amount of the notes issued under the indenture at a redemption price equal to 105.50% plus accrued and unpaid interest thereon, with the net proceeds of certain equity offerings. If the Company undergoes a change of control, it must offer to repurchase the Senior Notes due 2021 at 101% of the principal amount, plus accrued and unpaid interest. The Senior Notes due 2021 are not guaranteed by any of the Company’s subsidiaries or any third party. Proceeds from the issuance were used to pay-off our Revolving Credit Facility and for general corporate purposes. Revolving Credit Facility In January 26, 2015, we increased the size of our Revolving Credit Facility from $450,000 to $600,000 . On May 13, 2015, we extended the maturity of our Revolving Credit Facility to May 13, 2019. At December 31, 2015 , we had $225,000 drawn on the facility. Maturities of the secured and unsecured debt financings over the next five years and thereafter are as follows: Year Ending December 31, Amount 2016 $ 221,936 2017 672,027 2018 521,864 2019 834,661 2020 412,240 Thereafter 1,433,268 Total $ 4,095,996 ____________ As of December 31, 2015 , we are in compliance with all applicable covenants in our financings.

Shareholders' Equity and Share

Shareholders' Equity and Share Based Payment	12 Months Ended
	Dec. 31, 2015
Shareholders’ Equity and Share Based Payment [Abstract]
Shareholders’ Equity and Share Based Payment	Shareholders’ Equity and Share Based Payment In January 2006, the Board of Directors (the “Board”) and shareholders managed by affiliates of Fortress Investment Group LLC (the “Fortress Shareholders”) adopted the Aircastle Investment Limited 2005 Equity and Incentive Plan, and the Board and the Fortress Shareholders approved an amendment to and restatement thereof on July 20, 2006 (as so amended and restated, the “2005 Plan”). On March 14, 2014, the Board of Directors adopted the Aircastle Limited 2014 Omnibus Incentive Plan (the “2014 Plan”). The 2014 Plan was approved by shareholders at the Company’s 2014 Annual General Meeting of Shareholders on May 22, 2014. The 2014 Plan replaced the 2005 Plan. The purposes of the 2014 Plan are to provide an additional incentive to selected officers, employees, non-employee directors, independent contractors, and consultants of the Company or its affiliates whose contributions are essential to the growth and success of the business of the Company and its affiliates, to strengthen the commitment of such persons to the Company and its affiliates, motivate such persons to faithfully and diligently perform their responsibilities and attract and retain competent and dedicated persons whose efforts will result in the long-term growth and profitability of the Company and its affiliates. To accomplish such purposes, the 2014 Plan provides that the Company may grant options, share appreciation rights, restricted shares, restricted share units, share bonuses, other share-based awards, cash awards or any combination of the foregoing. The 2014 Plan provides that grantees of restricted common shares will have all of the rights of shareholders, including the right to receive dividends, other than the right to sell, transfer, assign or otherwise dispose of the shares until the lapse of the restricted period. Generally, the restricted common shares vest over three to five year periods based on continued service and are being expensed on a straight-line basis over the requisite service period of the awards. The terms of the grants provide for accelerated vesting under certain circumstances, including termination without cause following a change of control. The maximum number of Common Shares reserved for issuance under the 2014 Plan is 2,500,000 Common Shares, which includes 713,540 Common Shares remaining under the 2005 Plan that became available for reuse following the adoption of the 2014 Plan. Awards outstanding under the 2005 Plan in the amount of 302,942 shares will continue to vest subject to the terms and conditions of the 2005 Plan and the applicable awards agreements which are included in the below table. A summary of the fair value of non-vested shares for the years ended December 31, 2015 , 2014 and 2013 is as follows: Non-vested Shares Shares (in 000’s) Weighted Average Grant Date Fair Value Non-vested at January 1, 2013 561.2 $ 12.21 Granted 457.5 13.98 Canceled (1.5 ) 13.11 Vested (322.5 ) 11.96 Non-vested at December 31, 2013 694.7 13.49 Granted 341.1 18.80 Canceled (69.1 ) 15.89 Vested (345.4 ) 13.47 Non-vested at December 31, 2014 621.3 16.15 Granted 308.8 21.58 Canceled (10.6 ) 19.22 Vested (268.1 ) 15.82 Non-vested at December 31, 2015 651.4 $ 18.81 The fair value of the restricted common shares granted in 2015, 2014 and 2013 were determined based upon the market price of the shares at the grant date. The total unrecognized compensation cost, adjusted for estimated forfeitures, related to all non-vested shares as of December 31, 2015 , in the amount of $6,957 , is expected to be recognized over a weighted average period of 2.06 years. On October 31, 2014 , our Board of Directors authorized the repurchase of $100,000 of the Company’s common shares. Under the program, the Company may purchase its common shares from time to time in the open market or in privately negotiated transactions. During the fourth quarter of 2015, we repurchased 955,235 common shares at a total cost of $18,921 , including commissions, under the repurchase program. In addition, as of February 5, 2016, we repurchased an additional 1,650,778 common shares at an aggregate cost of $ 31,079 , including commissions, during 2016. Accordingly, as of February 5, 2016, under this program we have repurchased a total of 2,606,013 common shares at a total cost of $50,000 , including commissions, at an average price per share of $19.19 . The remaining dollar value of common shares that may be purchased under the program is $50,000 . On February 18, 2015, the Company, Marubeni and a subsidiary of Marubeni entered into an amendment and restatement of the Shareholder Agreement, which (1) modified the terms of the Shareholder Agreement to immediately permit acquisitions by Marubeni and its affiliates of voting securities of the Company in the secondary market pursuant to a Rule 10b5-1 plan that would result in Marubeni and its affiliates collectively holding more than 21.0% but no more than 27.5% of the voting power of the Company and (2) extended the term of the standstill provision of the Shareholder Agreement by 18 months to January 2025. As of February 5, 2016, Marubeni held 27.0% % of our voting securities.

Dividends

Dividends	12 Months Ended
	Dec. 31, 2015
Dividends [Abstract]
Dividends	Dividends The following table sets forth the quarterly dividends declared by our Board of Directors for the three years ended December 31, 2015 : Declaration Date Dividend per Common Share Aggregate Dividend Amount Record Date Payment Date October 30, 2015 $ 0.240 $ 19,377 November 30, 2015 December 15, 2015 August 4, 2015 $ 0.220 $ 17,860 August 31, 2015 September 15, 2015 May 4, 2015 $ 0.220 $ 17,863 May 29, 2015 June 15, 2015 February 17, 2015 $ 0.220 $ 17,860 March 6, 2015 March 13, 2015 October 31, 2014 $ 0.220 $ 17,817 November 28, 2014 December 15, 2014 July 28, 2014 $ 0.200 $ 16,201 August 29, 2014 September 12, 2014 May 5, 2014 $ 0.200 $ 16,202 May 30, 2014 June 13, 2014 February 21, 2014 $ 0.200 $ 16,201 March 7, 2014 March 14, 2014 October 29, 2013 $ 0.200 $ 16,163 November 29, 2013 December 13, 2013 August 2, 2013 $ 0.165 $ 13,330 August 30, 2013 September 13, 2013 May 1, 2013 $ 0.165 $ 11,297 May 31, 2013 June 14, 2013 February 18, 2013 $ 0.165 $ 11,268 March 4, 2013 March 15, 2013

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2015
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 and diluted EPS 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 are 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: Year Ended December 31, 2015 2014 2013 Weighted-average shares: Common shares outstanding 80,489,391 80,389,349 73,652,996 Restricted common shares 615,611 588,077 593,616 Total weighted-average shares 81,105,002 80,977,426 74,246,612 Year Ended December 31, 2015 2014 2013 Percentage of weighted-average shares: Common shares outstanding 99.24 % 99.27 % 99.20 % Restricted common shares 0.76 % 0.73 % 0.80 % Total 100.00 % 100.00 % 100.00 % The calculations of both basic and diluted earnings per share for the years ended December 31, 2015 , 2014 and 2013 are as follows: Year Ended December 31, 2015 2014 2013 Earnings per common share — Basic: Income from continuing operations $ 121,729 $ 100,828 $ 29,781 Less: Distributed and undistributed earnings allocated to restricted common shares (a) (924 ) (732 ) (238 ) Income from continuing operations available to common shareholders — Basic $ 120,805 $ 100,096 $ 29,543 Weighted-average common shares outstanding — Basic 80,489,391 80,389,349 73,652,996 Net income per common share — Basic $ 1.50 $ 1.25 $ 0.40 Earnings per common share — Diluted: Income from continuing operations $ 121,729 $ 100,828 $ 29,781 Less: Distributed and undistributed earnings allocated to restricted common shares (a) (924 ) (732 ) (238 ) Income from continuing operations available to common shareholders — Diluted $ 120,805 $ 100,096 $ 29,543 Weighted-average common shares outstanding — Basic 80,489,391 80,389,349 73,652,996 Effect of diluted shares — (b) — (b) — (b) Weighted-average common shares outstanding — Diluted 80,489,391 80,389,349 73,652,996 Net income per common share — Diluted $ 1.50 $ 1.25 $ 0.40 _____________ (a) For the years ended December 31, 2015 , 2014 and 2013 , distributed and undistributed earnings to restricted shares is 0.76% , 0.73% and 0.80% , respectively, 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 years ended December 31, 2015 , 2014 and 2013 , we have no dilutive shares.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
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 years ended December 31, 2015 , 2014 and 2013 were as follows: Year Ended December 31, 2015 2014 2013 U.S. operations $ 2,433 $ 2,047 $ 2,730 Non-U.S. operations 125,810 109,590 36,213 Income from continuing operations before income taxes and earnings of unconsolidated equity method investment $ 128,243 $ 111,637 $ 38,943 The components of the income tax provision from continuing operations for the year ended December 31, 2015 , 2014 and 2013 consisted of the following: Year Ended December 31, 2015 2014 2013 Current: United States: Federal $ 4,167 $ 1,571 $ 1,742 State 994 390 515 Non-U.S 14,499 9,040 2,542 Current income tax provision 19,660 11,001 4,799 Deferred: United States: Federal 829 2,335 963 State 57 932 386 Non-U.S (7,775 ) (405 ) 3,067 Deferred income tax provision (benefit) (6,889 ) 2,862 4,416 Total $ 12,771 $ 13,863 $ 9,215 Significant components of the Company’s deferred tax assets and liabilities at December 31, 2015 , 2014 and 2013 consisted of the following: Year Ended December 31, 2015 2014 2013 Deferred tax assets: Non-cash share based payments $ 1,483 $ 1,106 $ 1,139 Net operating loss carry forwards 52,007 42,900 23,137 Interest rate derivatives — 35 863 Other 761 340 356 Total deferred tax assets 54,251 44,381 25,495 Deferred tax liabilities: Accelerated depreciation (87,716 ) (79,360 ) (56,312 ) Other (442 ) (1,795 ) (1,143 ) Total deferred tax liabilities (88,158 ) (81,155 ) (57,455 ) Net deferred tax liabilities $ (33,907 ) $ (36,774 ) $ (31,960 ) The Company had approximately $27,631 of net operating loss (“NOL”) carry forwards available at December 31, 2015 to offset future taxable income subject to U.S. graduated tax rates. If not utilized, these carry forwards expire between 2030 through 2035. The Company also had NOL carry forwards of $520,177 with no expiration date to offset future Irish, Mauritius and Singapore taxable income. Deferred tax assets and liabilities are included in other assets and accounts payable and accrued liabilities, respectively, in the accompanying Consolidated Balance Sheets. We do not expect to incur income taxes on future distributions of undistributed earnings of non-U.S. subsidiaries and accordingly, no deferred income taxes have been provided for the distributions of such earnings. As of December 31, 2015 we have elected to permanently reinvest our accumulated undistributed U.S. earnings of $10,603 . Accordingly, no U.S. withholding taxes have been provided. Withholding tax of $3,181 would be due if such earnings were remitted. 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. Differences between statutory income tax rates and our effective income tax rates applied to pre-tax income from continuing operations at December 31, 2015 , 2014 and 2013 consisted of the following: Year Ended December 31, 2015 2014 2013 Notional U.S. federal income tax expense at the statutory rate: $ 44,885 $ 39,073 $ 13,630 U.S. state and local income tax, net 221 189 195 Non-U.S. operations: Bermuda (20,789 ) (12,424 ) 4,749 Ireland (3,073 ) (4,732 ) (5,514 ) Singapore (5,650 ) (5,529 ) (597 ) Other low tax jurisdictions (3,395 ) (2,890 ) (3,608 ) Non-deductible expenses in the U.S. 737 644 447 Other (165 ) (468 ) (87 ) Provision for income taxes $ 12,771 $ 13,863 $ 9,215 The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. We did not have any unrecognized tax benefits. We conduct business globally and, as a result, the Company and its subsidiaries or branches are subject to foreign, U.S. federal and various state and local income taxes, as well as withholding taxes. In the normal course of business the Company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as Ireland and the United States. With few exceptions, the Company and its subsidiaries or branches remain subject to examination for all periods since inception. Our policy is that we will recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. We did not accrue interest or penalties associated with any unrecognized tax benefits, nor was any interest expense or penalty recognized during the year.

Interest, Net

Interest, Net	12 Months Ended
	Dec. 31, 2015
Interest Income (Expense), Net [Abstract]
Interest, Net	Interest, Net The following table shows the components of interest, net for the years ended December 31, 2015 , 2014 and 2013 : Year Ended December 31, 2015 2014 2013 Interest on borrowings, net settlements on interest rate derivatives, and other liabilities $ 204,326 $ 189,135 $ 196,176 Hedge ineffectiveness losses 455 738 371 Amortization of interest rate derivatives related to deferred losses 24,023 34,979 33,265 Amortization of deferred financing fees and debt discount 14,878 13,961 14,719 Interest Expense 243,682 238,813 244,531 Less: Interest income (105 ) (435 ) (774 ) Interest, net $ 243,577 $ 238,378 $ 243,757

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Rent expense, primarily for the corporate office and sales and marketing facilities, was approximately $1,163 , $1,150 and $1,236 for the years ended December 31, 2015 , 2014 and 2013 , respectively. As of December 31, 2015 , Aircastle is obligated under non-cancelable operating leases relating principally to office facilities in Stamford, Connecticut; Dublin, Ireland; and Singapore for future minimum lease payments as follows: Year Ending December 31, Amount 2016 $ 921 2017 736 2018 751 2019 765 2020 779 Thereafter 1,602 Total $ 5,554 On June 12, 2015, Aircastle entered into a purchase agreement with Embraer S.A. (“Embraer”) under which we agreed to acquire 25 new E-Jet E2 aircraft with purchase rights for an additional 25 E-Jet E2 aircraft. Deliveries of the 25 aircraft are scheduled to begin in 2018 for the E190-E2 aircraft and 2019 for the E195-E2 aircraft with the last delivery scheduled in March 2021. At December 31, 2015 , the table below includes $142,170 of progress payments, which begin in May 2016. At December 31, 2015 , we had commitments to acquire 35 aircraft, including the above referenced 25 Embraer E-2 aircraft, for $1,347,836 . Commitments, including contractual price escalations and other adjustments, for these aircraft at December 31, 2015 , net of amounts already paid are as follows: Year Ending December 31, Amount 2016 $ 273,508 2017 170,252 2018 258,130 2019 293,267 2020 214,401 Thereafter 138,278 Total $ 1,347,836 As of February 5, 2016, we have commitments to acquire 37 aircraft for $ 1,423,836 .

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2015
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 Sheets as of: December 31, 2015 2014 Deferred federal income tax asset $ 1,362 $ 567 Lease incentives and lease premiums, net of amortization of $31,623 and $26,477, respectively 86,874 75,587 Flight equipment held for sale 12,901 7,455 Other assets 22,570 21,841 Total other assets $ 123,707 $ 105,450

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2015
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 Sheets as of: December 31, 2015 2014 Accounts payable and accrued expenses $ 34,457 $ 40,765 Deferred federal income tax liability 35,269 37,340 Accrued interest payable 37,606 27,795 Lease discounts, net of amortization of $19,403 and $9,247, respectively 22,443 32,084 Fair value of derivative liabilities 1,283 2,879 Total accounts payable, accrued expenses and other liabilities $ 131,058 $ 140,863

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss (Notes)	12 Months Ended
	Dec. 31, 2015
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 Sheets as of: Changes in accumulated other comprehensive loss by component (a) Twelve Months Ended December 31, 2015 2014 Beginning balance $ (38,460 ) $ (75,905 ) Amount recognized in other comprehensive loss on derivatives, net of tax expense of $14 and $718, respectively (2,113 ) (3,683 ) Amounts reclassified from accumulated other comprehensive loss into income, net of tax expense of $21 and $110, respectively 27,360 41,128 Net current period other comprehensive income 25,247 37,445 Ending balance $ (13,213 ) $ (38,460 ) (a) All amounts are net of tax. Amounts in parentheses indicate debits. Reclassifications from accumulated other comprehensive loss (a) Twelve Months Ended December 31, 2015 2014 Losses on cash flow hedges Amount of effective amortization of net deferred interest rate derivative losses (b) $ 24,023 $ 34,979 Effective amount of net settlements of interest rate derivatives, net of tax expense of $21 and $110, respectively (b) 3,337 6,149 Amount of loss reclassified from accumulated other comprehensive loss into income $ 27,360 $ 41,128 (a) All amounts are net of tax. (b) Included in interest expense. At December 31, 2015 , the amount of deferred net loss expected to be reclassified from OCI into interest expense over the next twelve months related to our terminated interest rate derivatives is $9,056 , of which $1,118 relates to Senior Notes due 2017 and 2020 interest rate derivatives, $4,855 relates to Senior Notes due 2018 interest rate derivatives, $1,749 relates to ECA Term Financings and $1,334 relates to other financings.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	Quarterly Financial Data (Unaudited) Quarterly results of our operations for the years ended December 31, 2015 and 2014 are summarized below: Fourth Third Second First 2015 Revenues $ 208,267 $ 212,074 $ 204,565 $ 194,296 Net income (loss) $ 50,641 $ (13,989 ) $ 41,808 $ 43,269 Basic earnings (loss) per share: Net income (loss) $ 0.63 $ (0.17 ) $ 0.51 $ 0.53 Diluted earnings (loss) per share: Net income (loss) $ 0.63 $ (0.17 ) $ 0.51 $ 0.53 2014 Revenues $ 238,257 $ 177,596 $ 226,146 $ 176,603 Net income $ 72,764 $ 19,151 $ 3,136 $ 5,777 Basic earnings per share: Net income $ 0.90 $ 0.24 $ 0.04 $ 0.07 Diluted earnings per share: Net income $ 0.90 $ 0.24 $ 0.04 $ 0.07 The sum of the quarterly earnings per share amounts may not equal the annual amount reported since per share amounts are computed independently for each period presented.

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
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 sel
Principles of Consolidation	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.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. 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.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents	Cash and Cash Equivalents and Restricted Cash and Cash Equivalents Aircastle considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. Restricted cash and cash equivalents consists primarily of rent collections, maintenance payments and security deposits received from lessees pursuant to the terms of various lease agreements held in lockbox accounts in accordance with our financings. Changes in restricted cash and cash equivalents related to rent collections are reflected within operating activities of our Consolidated Statements of Cash Flows for non-cash trapped financings. Changes in restricted cash and cash equivalents related to rent collections are reflected within financing activities of our Consolidated Statements of Cash Flows for cash trapped financings. Changes in restricted cash related to the sale of flight equipment are reflected within investing activities of our Consolidated Statements of Cash Flows. Changes in restricted cash and cash equivalents related to maintenance payments and security deposits are reflected within financing activities of our Consolidated Statements of Cash Flows.
Flight Equipment Held for Lease and Depreciation	Flight Equipment Held for Lease and Depreciation Flight equipment held for lease is stated at cost and depreciated using the straight-line method, typically over a 25 -year life from the date of manufacture for passenger aircraft and over a 30 to 35 -year life for freighter aircraft, depending on whether the aircraft is a converted or purpose-built freighter, to estimated residual values. Estimated residual values are generally determined to be approximately 15% of the manufacturer’s estimated realized price for passenger aircraft when new and 5% to 10% for freighter aircraft when new. Management may make exceptions to this policy on a case-by-case basis when, in its judgment, the residual value calculated pursuant to this policy does not appear to reflect current expectations of value. Examples of situations where exceptions may arise include but are not limited to: • flight equipment where estimates of the manufacturer’s realized sales prices are not relevant (e.g., freighter conversions); • flight equipment where estimates of the manufacturers’ realized sales prices are not readily available; and • flight equipment which may have a shorter useful life due to obsolescence. Major improvements and modifications incurred in connection with the acquisition of aircraft that are required to get the aircraft ready for initial service are capitalized and depreciated over the remaining life of the flight equipment. For planned major maintenance activities for aircraft off-lease, the Company capitalizes the actual maintenance costs by applying the deferral method. Under the deferral method, we capitalize the actual cost of major maintenance events, which are depreciated on a straight-line basis over the period until the next maintenance event is required. In accounting for flight equipment held for lease, we make estimates about the expected useful lives, the fair value of attached leases, acquired maintenance liabilities and the estimated residual values. In making these estimates, we rely upon actual industry experience with the same or similar aircraft types and our anticipated lessee’s utilization of the aircraft. When we acquire an aircraft with a lease, determining the fair value of attached leases requires us to make assumptions regarding the current fair values of leases for specific aircraft. We estimate a range of current lease rates of like aircraft in order to determine if the attached lease is within a fair value range. If a lease is below or above the range of current lease rates, we present value the estimated amount below or above the fair value range over the remaining term of the lease. The resulting lease discount or premium is amortized into lease rental income over the remaining term of the lease. Lease Incentives and Amortization Many of our leases contain provisions which may require us to pay a portion of the lessee’s costs for heavy maintenance, overhaul or replacement of certain high-value components. We account for these expected payments as lease incentives, which are amortized as a reduction of revenue over the life of the lease. We estimate the amount of our portion for such costs, typically for the first major maintenance event for the airframe, engines, landing gear and auxiliary power units, expected to be paid to the lessee based on assumed utilization of the related aircraft by the lessee, the anticipated amount of the maintenance event cost and the estimated amounts the lessee is responsible to pay. This estimated lease incentive is not recognized as a lease incentive liability at the inception of the lease. We recognize the lease incentive as a reduction of lease revenue on a straight-line basis over the life of the lease, with the offset being recorded as a lease incentive liability which is included in maintenance payments on the balance sheet. The payment to the lessee for the lease incentive liability is first recorded against the lease incentive liability, and any excess above the lease incentive liability is recorded as a prepaid lease incentive asset, which is included in other assets on the balance sheet and continues to amortize over the remaining life of the lease. Lease acquisition costs related to reconfiguration of the aircraft cabin, other lessee specific modifications and other direct costs are capitalized and amortized into revenue over the initial life of the lease, assuming no lease renewals, and are included in other assets.
Impairment of Flight Equipment	Impairment of Flight Equipment We perform a recoverability assessment of all aircraft in our fleet, on an aircraft-by-aircraft basis annually during the third quarter. In addition, a recoverability assessment is performed whenever events or changes in circumstances, or indicators, suggest that the carrying amount or net book value of an asset may not be recoverable. Indicators may include, but are not limited to, a significant lease restructuring or early lease termination, significant change in aircraft model’s storage levels, the introduction of newer technology aircraft or engines, an aircraft type is no longer in production or a significant airworthiness directive is issued. When we perform a recoverability assessment, we measure whether the estimated future undiscounted net cash flows expected to be generated by the aircraft exceed its net book value. The undiscounted cash flows consist of cash flows from currently contracted lease rental and maintenance payments, future projected lease rates, transition costs, estimated down time, estimated residual or scrap values for an aircraft, economic conditions and other factors. In the event that an aircraft does not meet the recoverability test, the aircraft will be adjusted to fair value, resulting in an impairment charge. See Note 2 — Fair Value Measurements. Management develops the assumptions used in the recoverability analysis based on current and future expectations of the global demand for a particular aircraft type and historical experience in the aircraft leasing market and aviation industry, as well as information received from third party industry sources. The factors considered in estimating the undiscounted cash flows are impacted by changes in future periods due to changes in projected lease rental and maintenance payments, residual values, economic conditions, technology, airline demand for a particular aircraft type and other factors. In monitoring the aircraft in our fleet for impairment charges, we identify those aircraft that are most susceptible to failing the recoverability assessment and monitor those aircraft more closely, which may result in more frequent recoverability assessments. The recoverability in the value of these aircraft is more sensitive to changes in contractual cash flows, future cash flow estimates and residual values or scrap values for each aircraft. These are typically older aircraft for which lessee demand is declining.
Net Investment in Finance Leases	Net Investment in Finance and Sales-Type Leases If a lease meets specific criteria at the inception or at any lease modification date, we recognize the lease as a Net investment in finance and sales-type leases on our Consolidated Balance Sheets. For sales-type leases, we recognize the difference between the net book value of the aircraft and the Net investment in finance and sales-type leases as a gain or loss on sale of fight equipment, less any initial direct costs and lease incentives . The Net investment in finance and sales-type leases consists of lease receivables, less the unearned income, plus the estimated unguaranteed residual value of the leased flight equipment at the lease end date. The unearned income is recognized as Finance and sales-type lease revenue in our Consolidated Statements of Income over the lease term in a manner that produces a constant rate of return on the Net investment in finance and sales-type leases. Collectability of finance and sales-type leases is evaluated periodically on an individual customer level. The evaluation of the collectability of the finance and sales-type leases considers the credit of the lessee and the value of the underlying aircraft. An allowance for credit losses is established if there is evidence that we will be unable to collect all amounts due according to the original contractual terms of the Net investment in finance and sales-type leases. At December 31, 2015 , we had no allowance for credit losses for our Net investment in finance and sales-type leases.
Unconsolidated Equity Method Investment	Unconsolidated Equity Method Investment Aircastle accounts for its interest in an unconsolidated joint venture using the equity method as we do not control the joint venture entity. Under the equity method, the investment is initially recorded at cost and the carrying amount is affected by its share of the unconsolidated joint venture’s undistributed earnings and losses, and distributions of dividends and capital.
Security Deposits	Security Deposits Most of our operating leases require the lessee to pay Aircastle a security deposit or provide a letter of credit. Security deposits represent cash received from the lessee that is held on deposit until lease expiration. Aircastle’s operating leases also obligate the lessees to maintain flight equipment and comply with all governmental requirements applicable to the flight equipment, including without limitation, operational, maintenance, registration requirements and airworthiness directives.
Maintenance Payments	Maintenance Payments Typically, under an operating lease, the lessee is responsible for performing all maintenance but might be required to make payments to us for heavy maintenance, overhaul or replacement of certain high-value components of the aircraft. These maintenance payments are based on hours or cycles of utilization or on calendar time, depending upon the component, and are required to be made monthly in arrears or at the end of the lease term. Whether to permit a lessee to make maintenance payments at the end of the lease term, rather than requiring such payments to be made monthly, depends on a variety of factors, including the creditworthiness of the lessee, the level of security deposit which may be provided by the lessee and market conditions at the time we enter into the lease. If a lease requires monthly maintenance payments, we would typically be obligated to reimburse the lessee for costs they incur for heavy maintenance, overhaul or replacement of certain high-value components to the extent of maintenance payments received in respect of the specific maintenance event, usually shortly following completion of the relevant work. If a lease requires end of lease term maintenance payments, typically the lessee would be required to pay us for its utilization of the aircraft during the lease; however, in some cases, we may owe a net payment to the lessee in the event heavy maintenance is performed and paid for by the lessee during the lease term and the aircraft is returned to us in better condition that at lease inception. We record monthly maintenance payments by the lessee as accrued maintenance payments liabilities in recognition of our contractual commitment to refund such receipts. In these contracts, we do not recognize such maintenance payments as maintenance revenue during the lease. Reimbursements to the lessee upon the receipt of evidence of qualifying maintenance work are charged against the existing accrued maintenance payments liability. We currently defer maintenance revenue recognition of all monthly maintenance payments collected until the end of the lease, when we are able to determine the amount, if any, by which the monthly maintenance payments received from a lessee exceed costs to be incurred by that lessee in performing heavy maintenance. End of lease term maintenance payments made to us are recognized as maintenance revenue, and end of lease term maintenance payments we make to a lessee are recorded as contra maintenance revenue.
Income Taxes	Income Taxes Aircastle uses an asset and liability based approach in accounting for income taxes. Deferred income tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statement and tax basis of existing assets and liabilities using enacted rates applicable to the periods in which the differences are expected to affect taxable income. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount estimated by us to be realizable. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities.
Lease Revenue Recognition	Lease Revenue Recognition We lease flight equipment under net operating leases with lease terms typically ranging from three to seven years. We generally do not offer renewal terms or purchase options in our leases, although certain of our operating leases allow the lessee the option to extend the lease for an additional term. Operating leases with fixed rentals and step rentals are recognized on a straight-line basis over the term of the initial lease, assuming no renewals. Operating lease rentals that adjust based on a London Interbank Offered Rate (“LIBOR”) index are recognized on a straight-line basis over the period the rentals are fixed and accruable. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the customer is placed on non-accrual status, and revenue is recognized when cash payments are received.
Comprehensive Income	Comprehensive Income Comprehensive income consists of net income and other gains and losses, net of income taxes, if any, affecting shareholders’ equity that, under U.S. GAAP, are excluded from net income. At December 31, 2015 and 2014 , such amount consists of the effective portion of fluctuations in the fair value of derivatives designated as cash flow hedges.
Share Based Compensation	Share Based Compensation Aircastle recognizes compensation cost relating to share-based payment transactions in the financial statements based on the fair value of the equity instruments issued. Aircastle uses the straight-line method of accounting for compensation cost on share-based payment awards that contain pro-rata vesting provisions.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs, which are included in borrowings from secured and unsecured financings, net of debt issuance costs, in the Consolidated Balance Sheets, are amortized using the interest method for amortizing loans over the lives of the relevant related debt.
Recent Unadopted Accounting Pronouncements	Proposed Accounting Pronouncements We anticipate the FASB will issue Accounting Standards Codification (“ASC”) 842 (“ASC 842”), “ Leases ” which will replace the existing guidance in ASC 840, Leases, in early 2016. Based on the FASB’s tentative decisions, the accounting for leases by lessors would basically remain unchanged from the concepts existing in current ASC 840 accounting. The FASB tentatively decided that lessors would 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 standard will be effective for public entities beginning after December 15, 2018. Based on the original Leases re-exposure draft and the FASB’s tentative decisions, we believe the standard will not have a material impact on our consolidated financial statements. We do not believe that the adoption of the standard will significantly impact our existing or potential lessees' economic decisions to lease aircraft. 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, 2017. 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. We are in the process of determining the impact the standard will have on our consolidated financial statements and related disclosures. On August 27, 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40). The standard requires management of public companies to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management should evaluate whether there are conditions or events, considered in the aggregate, that raises substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or available to be issued, when applicable). The standard is effective for annual periods ending after December 15, 2016 and interim periods thereafter, and early adoption is permitted. We believe the standard will not have a material impact on our consolidated financial statements and related disclosures. In February 2015, the FASB issued ASU No. 2015-02, Consolidation - Amendments to the Consolidation Analysis (Topic 810). The update amends the guidelines for determining whether certain legal entities should be consolidated and reduces the number of consolidation models. This new standard affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. This standard will be effective for interim and annual reporting periods beginning on January 1, 2016. The standard may be applied retrospectively or through a cumulative effect adjustment to equity as of the beginning of the year of adoption. We adopted the standard on its required effective date of January 1, 2016. The standard will not have a material impact on our consolidated financial statements and related disclosures.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2015 and 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 as of December 31, 2015 Fair Value Measurements at December 31, 2015 Using Fair Value Hierarchy Level 1 Level 2 Level 3 Valuation Technique Assets : Cash and cash equivalents $ 155,904 $ 155,904 $ — $ — Market Restricted cash and cash equivalents 98,137 98,137 — — Market Total $ 254,041 $ 254,041 $ — $ — Liabilities : Derivative liabilities $ 1,283 $ — $ 1,283 $ — Income Fair Value Fair Value Measurements at December 31, 2014 Using Fair Value Hierarchy Level 1 Level 2 Level 3 Valuation Assets : Cash and cash equivalents $ 169,656 $ 169,656 $ — $ — Market Restricted cash and cash equivalents 98,884 98,884 — — Market Total $ 268,540 $ 268,540 $ — $ — Liabilities : Derivative liabilities $ 2,879 $ — $ 2,879 $ — Income
Carrying amounts and fair values of financial instruments	The carrying amounts and fair values of our financial instruments at December 31, 2015 and 2014 are as follows: December 31, 2015 December 31, 2014 Carrying Amount of Liability Fair Value of Liability Carrying Amount of Liability Fair Value of Liability Securitizations $ 125,366 $ 123,696 $ 391,680 $ 376,752 Credit Facilities 225,000 225,000 200,000 200,000 ECA term financings 404,491 422,640 449,886 471,918 Bank financings 636,970 653,699 554,888 560,285 Senior Notes 2,700,000 2,832,125 2,200,000 2,300,615

Lease Rental Revenues and Fli30

Lease Rental Revenues and Flight Equipment Held for Lease (Tables)	12 Months Ended
	Dec. 31, 2015
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 December 31, 2015 were as follows: Year Ending December 31, Amount 2016 $ 706,122 2017 625,842 2018 553,790 2019 484,976 2020 414,926 Thereafter 1,173,535 Total $ 3,959,191
Geographic concentration of lease rental revenue earnings	Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows: Year Ended December 31, Region 2015 2014 2013 Europe 28 % 29 % 33 % Asia and Pacific 42 % 40 % 38 % North America 5 % 9 % 10 % Middle East and Africa 9 % 9 % 10 % South America 16 % 13 % 9 % Total 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) in any year based on each lessee’s principal place of business for the years indicated: Year Ending December 31, 2015 2014 2013 Country Revenue % of Total Revenue Revenue % of Total Revenue Revenue % of Total Revenue Russia (1) $ — — % $ 86,512 11 % $ — — % United States (2) — — % — — % 74,274 10 % ______________ (1) Total revenue attributable to Russia was less than 10% for the twelve months ended December 31, 2015 and 2013. For the twelve months ended December 31, 2014, includes $29,867 of maintenance revenue related to early lease terminations. (2) Total revenue attributable to the United States was less than 10% for the twelve months ended December 31, 2015 and 2014.
Geographic concentration of net book value of flight equipment held for lease	Geographic concentration of net book value of flight equipment held for lease was as follows: December 31, 2015 December 31, 2014 Region Number of Aircraft Net Book Value % Number of Aircraft Net Book Value % Asia and Pacific 49 39 % 46 40 % Europe 64 26 % 65 29 % South America 22 19 % 13 14 % Middle East and Africa 9 10 % 6 10 % North America 17 6 % 17 7 % Off-lease 1 (1) — % 1 (2) — % Total 162 100 % 148 100 % ______________ (1) Consisted of one Boeing 777-200ER aircraft that was being marketed for lease at December 31, 2015. (2) Consisted of one Airbus A320-200 aircraft, which was subject to a commitment to lease and was delivered to our customer in February 2015.

Net Investment in Finance Lea31

Net Investment in Finance Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Schedule of Components of our Net Investment in Finance Leases	The following table lists the components of our net investment in finance and sales-type leases at December 31, 2015 : Amount Total lease payments to be received $ 156,364 Less: Unearned income (69,175 ) Estimated residual values of leased flight equipment (unguaranteed) 114,022 Net investment in finance and sales-type leases $ 201,211
Schedule of Future Minimum Lease Payments for Capital Leases	At December 31, 2015 , minimum future lease payments on finance and sales-type leases are as follows: Year Ending December 31, Amount 2016 $ 26,075 2017 24,247 2018 18,625 2019 18,545 2020 17,690 Thereafter 51,182 Total lease payments to be received $ 156,364

Unconsolidated Equity Method 32

Unconsolidated Equity Method Investment (Tables)	12 Months Ended
	Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Amount Investment in joint venture at December 31, 2013 $ 21,123 Investment in joint venture 26,050 Earnings from joint venture, net of tax 3,054 Distributions (3,774 ) Investment in joint venture at December 31, 2014 46,453 Investment in joint venture 3,394 Earnings from joint venture, net of tax 6,257 Distributions (5,727 ) Investment in joint venture at December 31, 2015 $ 50,377

Borrowings from Secured and U33

Borrowings from Secured and Unsecured Debt Financings (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Outstanding amounts of secured and unsecured term debt financings	The following securitization structure includes liquidity facility commitments described in the table below: Facility Liquidity Facility Provider Available Liquidity Unused Fee Interest Rate on any Advances December 31, December 31, Securitization No. 2 HSH Nordbank AG $ 65,000 $ 65,000 0.50% 1 M Libor + 0.75 The outstanding amounts of our secured and unsecured term debt financings were as follows: At December 31, 2015 At December 31, 2014 Debt Obligation Outstanding Borrowings Number of Aircraft Interest Rate (1) Final Stated Maturity Outstanding Borrowings Secured Debt Financings: Securitization No. 2 (2) $ 125,366 23 0.59% 06/14/37 $ 391,680 ECA Term Financings 404,491 8 3.02% to 3.96% 12/03/21 to 11/30/24 449,886 Bank Financings 636,970 13 1.32% to 5.09% 10/26/17 to 01/19/26 554,888 Less: Debt Issuance Costs (20,589 ) (23,323 ) Total secured debt financings, net of debt issuance costs 1,146,238 44 1,373,131 Unsecured Debt Financings: Senior Notes due 2017 500,000 6.750% 04/15/17 500,000 Senior Notes due 2018 400,000 4.625% 12/05/18 400,000 Senior Notes due 2019 500,000 6.250% 12/01/19 500,000 Senior Notes due 2020 300,000 7.625% 04/15/20 300,000 Senior Notes due 2021 500,000 5.125% 03/15/21 500,000 Senior Notes due 2022 500,000 5.500% 02/15/22 — Revolving Credit Facility 225,000 2.672% 05/13/19 200,000 Less: Debt Issuance Costs (30,082 ) (28,544 ) Total unsecured debt financings, net of debt issuance costs 2,894,918 2,371,456 Total secured and unsecured debt financings, net of debt issuance costs $ 4,041,156 $ 3,744,587 _______________ (1) Reflects the floating rate in effect at the applicable reset date plus the margin for Securitization No. 2, three of our Bank Financings and our Revolving Credit Facility. 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.
Schedule of Maturities of Long-term Debt	$450,000 to $600,000 . On May 13, 2015, we extended the maturity of our Revolving Credit Facility to May 13, 2019. At December 31, 2015 , we had $225,000 drawn on the facility. Maturities of the secured and unsecured debt financings over the next five years and thereafter are as follows: Year Ending December 31, Amount 2016 $ 221,936 2017 672,027 2018 521,864 2019 834,661 2020 412,240 Thereafter 1,433,268 Total $ 4,095,996 ____________

Shareholders' Equity and Shar34

Shareholders' Equity and Share Based Payment (Tables)	12 Months Ended
	Dec. 31, 2015
Shareholders’ Equity and Share Based Payment [Abstract]
Schedule of Nonvested Restricted Stock Units Activity	A summary of the fair value of non-vested shares for the years ended December 31, 2015 , 2014 and 2013 is as follows: Non-vested Shares Shares (in 000’s) Weighted Average Grant Date Fair Value Non-vested at January 1, 2013 561.2 $ 12.21 Granted 457.5 13.98 Canceled (1.5 ) 13.11 Vested (322.5 ) 11.96 Non-vested at December 31, 2013 694.7 13.49 Granted 341.1 18.80 Canceled (69.1 ) 15.89 Vested (345.4 ) 13.47 Non-vested at December 31, 2014 621.3 16.15 Granted 308.8 21.58 Canceled (10.6 ) 19.22 Vested (268.1 ) 15.82 Non-vested at December 31, 2015 651.4 $ 18.81

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Dec. 31, 2015
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 three years ended December 31, 2015 : Declaration Date Dividend per Common Share Aggregate Dividend Amount Record Date Payment Date October 30, 2015 $ 0.240 $ 19,377 November 30, 2015 December 15, 2015 August 4, 2015 $ 0.220 $ 17,860 August 31, 2015 September 15, 2015 May 4, 2015 $ 0.220 $ 17,863 May 29, 2015 June 15, 2015 February 17, 2015 $ 0.220 $ 17,860 March 6, 2015 March 13, 2015 October 31, 2014 $ 0.220 $ 17,817 November 28, 2014 December 15, 2014 July 28, 2014 $ 0.200 $ 16,201 August 29, 2014 September 12, 2014 May 5, 2014 $ 0.200 $ 16,202 May 30, 2014 June 13, 2014 February 21, 2014 $ 0.200 $ 16,201 March 7, 2014 March 14, 2014 October 29, 2013 $ 0.200 $ 16,163 November 29, 2013 December 13, 2013 August 2, 2013 $ 0.165 $ 13,330 August 30, 2013 September 13, 2013 May 1, 2013 $ 0.165 $ 11,297 May 31, 2013 June 14, 2013 February 18, 2013 $ 0.165 $ 11,268 March 4, 2013 March 15, 2013

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
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: Year Ended December 31, 2015 2014 2013 Weighted-average shares: Common shares outstanding 80,489,391 80,389,349 73,652,996 Restricted common shares 615,611 588,077 593,616 Total weighted-average shares 81,105,002 80,977,426 74,246,612 Year Ended December 31, 2015 2014 2013 Percentage of weighted-average shares: Common shares outstanding 99.24 % 99.27 % 99.20 % Restricted common shares 0.76 % 0.73 % 0.80 % Total 100.00 % 100.00 % 100.00 %
Basic and Diluted earnings per share	The calculations of both basic and diluted earnings per share for the years ended December 31, 2015 , 2014 and 2013 are as follows: Year Ended December 31, 2015 2014 2013 Earnings per common share — Basic: Income from continuing operations $ 121,729 $ 100,828 $ 29,781 Less: Distributed and undistributed earnings allocated to restricted common shares (a) (924 ) (732 ) (238 ) Income from continuing operations available to common shareholders — Basic $ 120,805 $ 100,096 $ 29,543 Weighted-average common shares outstanding — Basic 80,489,391 80,389,349 73,652,996 Net income per common share — Basic $ 1.50 $ 1.25 $ 0.40 Earnings per common share — Diluted: Income from continuing operations $ 121,729 $ 100,828 $ 29,781 Less: Distributed and undistributed earnings allocated to restricted common shares (a) (924 ) (732 ) (238 ) Income from continuing operations available to common shareholders — Diluted $ 120,805 $ 100,096 $ 29,543 Weighted-average common shares outstanding — Basic 80,489,391 80,389,349 73,652,996 Effect of diluted shares — (b) — (b) — (b) Weighted-average common shares outstanding — Diluted 80,489,391 80,389,349 73,652,996 Net income per common share — Diluted $ 1.50 $ 1.25 $ 0.40 _____________ (a) For the years ended December 31, 2015 , 2014 and 2013 , distributed and undistributed earnings to restricted shares is 0.76% , 0.73% and 0.80% , respectively, 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 years ended December 31, 2015 , 2014 and 2013 , we have no dilutive shares.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
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 years ended December 31, 2015 , 2014 and 2013 were as follow
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The components of the income tax provision from continuing operations for the year ended December 31, 2015 , 2014 and 2013 consisted of the following: Year Ended December 31, 2015 2014 2013 Current: United States: Federal $ 4,167 $ 1,571 $ 1,742 State 994 390 515 Non-U.S 14,499 9,040 2,542 Current income tax provision 19,660 11,001 4,799 Deferred: United States: Federal 829 2,335 963 State 57 932 386 Non-U.S (7,775 ) (405 ) 3,067 Deferred income tax provision (benefit) (6,889 ) 2,862 4,416 Total $ 12,771 $ 13,863 $ 9,215
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Significant components of the Company’s deferred tax assets and liabilities at December 31, 2015 , 2014 and 2013 consisted of the following: Year Ended December 31, 2015 2014 2013 Deferred tax assets: Non-cash share based payments $ 1,483 $ 1,106 $ 1,139 Net operating loss carry forwards 52,007 42,900 23,137 Interest rate derivatives — 35 863 Other 761 340 356 Total deferred tax assets 54,251 44,381 25,495 Deferred tax liabilities: Accelerated depreciation (87,716 ) (79,360 ) (56,312 ) Other (442 ) (1,795 ) (1,143 ) Total deferred tax liabilities (88,158 ) (81,155 ) (57,455 ) Net deferred tax liabilities $ (33,907 ) $ (36,774 ) $ (31,960 )
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 from continuing operations at December 31, 2015 , 2014 and 2013 consisted of the following: Year Ended December 31, 2015 2014 2013 Notional U.S. federal income tax expense at the statutory rate: $ 44,885 $ 39,073 $ 13,630 U.S. state and local income tax, net 221 189 195 Non-U.S. operations: Bermuda (20,789 ) (12,424 ) 4,749 Ireland (3,073 ) (4,732 ) (5,514 ) Singapore (5,650 ) (5,529 ) (597 ) Other low tax jurisdictions (3,395 ) (2,890 ) (3,608 ) Non-deductible expenses in the U.S. 737 644 447 Other (165 ) (468 ) (87 ) Provision for income taxes $ 12,771 $ 13,863 $ 9,215

Interest, Net (Tables)

Interest, Net (Tables)	12 Months Ended
	Dec. 31, 2015
Interest Income (Expense), Net [Abstract]
Components of interest	The following table shows the components of interest, net for the years ended December 31, 2015 , 2014 and 2013 : Year Ended December 31, 2015 2014 2013 Interest on borrowings, net settlements on interest rate derivatives, and other liabilities $ 204,326 $ 189,135 $ 196,176 Hedge ineffectiveness losses 455 738 371 Amortization of interest rate derivatives related to deferred losses 24,023 34,979 33,265 Amortization of deferred financing fees and debt discount 14,878 13,961 14,719 Interest Expense 243,682 238,813 244,531 Less: Interest income (105 ) (435 ) (774 ) Interest, net $ 243,577 $ 238,378 $ 243,757

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Operating Leases of Lessee Disclosure	As of December 31, 2015 , Aircastle is obligated under non-cancelable operating leases relating principally to office facilities in Stamford, Connecticut; Dublin, Ireland; and Singapore for future minimum lease payments as follows: Year Ending December 31, Amount 2016 $ 921 2017 736 2018 751 2019 765 2020 779 Thereafter 1,602 Total $ 5,554

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2015
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 Sheets as of: December 31, 2015 2014 Deferred federal income tax asset $ 1,362 $ 567 Lease incentives and lease premiums, net of amortization of $31,623 and $26,477, respectively 86,874 75,587 Flight equipment held for sale 12,901 7,455 Other assets 22,570 21,841 Total other assets $ 123,707 $ 105,450

Accounts Payable, Accrued Exp41

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Principal components of accounts payable, accrued expenses and other liabilities recorded on our consolidated balance sheet	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 Sheets as of: December 31, 2015 2014 Accounts payable and accrued expenses $ 34,457 $ 40,765 Deferred federal income tax liability 35,269 37,340 Accrued interest payable 37,606 27,795 Lease discounts, net of amortization of $19,403 and $9,247, respectively 22,443 32,084 Fair value of derivative liabilities 1,283 2,879 Total accounts payable, accrued expenses and other liabilities $ 131,058 $ 140,863

Accumulated Other Comprehensi42

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table describes the principal components of accumulated other comprehensive loss recorded on our Consolidated Balance Sheets as of: Changes in accumulated other comprehensive loss by component (a) Twelve Months Ended December 31, 2015 2014 Beginning balance $ (38,460 ) $ (75,905 ) Amount recognized in other comprehensive loss on derivatives, net of tax expense of $14 and $718, respectively (2,113 ) (3,683 ) Amounts reclassified from accumulated other comprehensive loss into income, net of tax expense of $21 and $110, respectively 27,360 41,128 Net current period other comprehensive income 25,247 37,445 Ending balance $ (13,213 ) $ (38,460 ) (a) All amounts are net of tax. Amounts in parentheses indicate debits.
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications from accumulated other comprehensive loss (a) Twelve Months Ended December 31, 2015 2014 Losses on cash flow hedges Amount of effective amortization of net deferred interest rate derivative losses (b) $ 24,023 $ 34,979 Effective amount of net settlements of interest rate derivatives, net of tax expense of $21 and $110, respectively (b) 3,337 6,149 Amount of loss reclassified from accumulated other comprehensive loss into income $ 27,360 $ 41,128 (a) All amounts are net of tax. (b) Included in interest expense.

Quarterly Financial Data (Una43

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of unaudited quarterly financial data	Quarterly results of our operations for the years ended December 31, 2015 and 2014 are summarized below: Fourth Third Second First 2015 Revenues $ 208,267 $ 212,074 $ 204,565 $ 194,296 Net income (loss) $ 50,641 $ (13,989 ) $ 41,808 $ 43,269 Basic earnings (loss) per share: Net income (loss) $ 0.63 $ (0.17 ) $ 0.51 $ 0.53 Diluted earnings (loss) per share: Net income (loss) $ 0.63 $ (0.17 ) $ 0.51 $ 0.53 2014 Revenues $ 238,257 $ 177,596 $ 226,146 $ 176,603 Net income $ 72,764 $ 19,151 $ 3,136 $ 5,777 Basic earnings per share: Net income $ 0.90 $ 0.24 $ 0.04 $ 0.07 Diluted earnings per share: Net income $ 0.90 $ 0.24 $ 0.04 $ 0.07

Summary of Significant Accoun44

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2015Entityfinancial_institutionsegment
Accounting Policies [Abstract]
Number of Operating Segments | segment	1
Property, Plant and Equipment [Line Items]
Number of Major Financial Institutions | financial_institution	3
Passenger Aircraft
Property, Plant and Equipment [Line Items]
Estimated useful life	25 years
Estimated residual value	15.00%
Freighter Aircraft | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	30 years
Estimated residual value	5.00%
Freighter Aircraft | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	35 years
Estimated residual value	10.00%
Flight Equipment | Minimum | Property Subject to Operating Lease
Property, Plant and Equipment [Line Items]
Operating Leases, Term of Contract	3 years
Flight Equipment | Maximum | Property Subject to Operating Lease
Property, Plant and Equipment [Line Items]
Operating Leases, Term of Contract	7 years
Variable Interest Entity, Primary Beneficiary
Property, Plant and Equipment [Line Items]
Number of VIE's consolidated | Entity	7

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Liabilities:
Derivative liabilities	$ 1,283	$ 2,879
Recurring | Quoted Prices In Active Markets for Identical Assets (Level 1)
Assets:
Cash and cash equivalents	155,904	169,656
Restricted cash and cash equivalents	98,137	98,884
Total	254,041	268,540
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	1,283	2,879
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
Estimate of Fair Value Measurement | Recurring
Assets:
Cash and cash equivalents	155,904	169,656
Restricted cash and cash equivalents	98,137	98,884
Total	254,041	268,540
Liabilities:
Derivative liabilities	$ 1,283	$ 2,879

Fair Value Measurements (Deta46

Fair Value Measurements (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Secured Debt [Member] | Significant Other Observable Inputs (Level 2) | Reported Value Measurement | Securitization And Term Debt Financing
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 125,366	$ 391,680
Secured Debt [Member] | 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	404,491	449,886
Secured Debt [Member] | 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	636,970	554,888
Secured Debt [Member] | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement | Securitization And Term Debt Financing
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	123,696	376,752
Secured Debt [Member] | 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	422,640	471,918
Secured Debt [Member] | 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	653,699	560,285
Unsecured Debt [Member] | Quoted Prices In Active Markets for Identical Assets (Level 1) | Reported Value Measurement | Revolving Credit Facility [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	225,000	200,000
Unsecured Debt [Member] | 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	2,700,000	2,200,000
Unsecured Debt [Member] | 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	$ 2,832,125	$ 2,300,615

Fair Value Measurements Fair 47

Fair Value Measurements Fair Value Measurements (Details 4) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of aircraft		$ 119,835	$ 93,993	$ 117,306
Maintenance Revenue		71,049	88,006	68,342
Other Revenue, Net		$ 17,742	11,208	$ 11,620
Transactional [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of aircraft	$ 23,955		73,557
Maintenance Revenue	$ 18,234		51,627
Other Revenue, Net			$ 698

Fair Value Measurements (Deta48

Fair Value Measurements (Details Textual) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)Aircraft	Dec. 31, 2014USD ($)Aircraft	Jun. 30, 2015USD ($)Aircraft	Sep. 30, 2014Aircraft	Dec. 31, 2015USD ($)Aircraft	Dec. 31, 2014USD ($)Aircraft	Dec. 31, 2013USD ($)	Aug. 31, 2015USD ($)	Jun. 30, 2014USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Book Value	$ 5,867,062		$ 5,579,718			$ 5,867,062	$ 5,579,718		$ 115,888
Asset Impairment Charges						119,835	93,993	$ 117,306
Maintenance Revenue						71,049	88,006	68,342
Other Revenue, Net						$ 17,742	11,208	$ 11,620
Aircraft
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Book Value										$ 53,777
Maximum | Aircraft | McDonnell Douglas MD-11F Freighter Aircraft [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated useful life						25 years
Minimum | Aircraft | McDonnell Douglas MD-11F Freighter Aircraft [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated useful life						21 years
Transactional [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges				$ 23,955			73,557
Maintenance Revenue				$ 18,234			51,627
Other Revenue, Net							698
Lease Incentive Reversal							$ 4,081
Transactional [Member] | A330-300 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges	16,896
Maintenance Revenue	9,055
Other Revenue, Net	1,778
Lease Incentive Reversal	$ 4,487
Transactional [Member] | B-737-800 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of Impaired Aircraft | Aircraft				1
Transactional [Member] | B-777-200 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges		$ 37,770
Other Revenue, Net		$ 1,200
Transactional [Member] | B747-400 Converted Freighter [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of Impaired Aircraft | Aircraft					3
Transactional [Member] | B-737 Classic [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of Impaired Aircraft | Aircraft							2
Transactional [Member] | McDonnell Douglas MD-11F Freighter Aircraft [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of Impaired Aircraft | Aircraft				2
Transactional [Member] | A-320-200
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of Impaired Aircraft | Aircraft			2
Transactional [Member] | B-757-200 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of Impaired Aircraft | Aircraft			1
Transactional [Member] | A321-200 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of Impaired Aircraft | Aircraft		1
Asset Impairment Charges		$ 6,058
Maintenance Revenue		7,109
Fleet Review [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges		34,575
Maintenance Revenue		$ 5,858
Fleet Review [Member] | B747-400 Converted Freighter [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aircraft with Reduced Cash Flow Forecasts due to Annual Fleet Review | Aircraft		6
Number of Impaired Aircraft | Aircraft		4
Number of Aircraft Impaired with Maintenance Revenue Recorded | Aircraft		1
Fleet Review [Member] | McDonnell Douglas MD-11F Freighter Aircraft [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of Impaired Aircraft | Aircraft						2
Asset Impairment Charges						$ 19,515

Lease Rental Revenues and Fli49

Lease Rental Revenues and Flight Equipment Held for Lease (Details) $ in Thousands	Dec. 31, 2015USD ($)
Annual future minimum lease rentals receivable
2,014	$ 706,122
2,015	625,842
2,016	553,790
2,017	484,976
2,018	414,926
Thereafter	1,173,535
Total	$ 3,959,191

Lease Rental Revenues and Fli50

Lease Rental Revenues and Flight Equipment Held for Lease (Details 1) - Lease Revenue - Geographic Concentration Risk	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	100.00%	100.00%	100.00%
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	28.00%	29.00%	33.00%
Asia and Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	42.00%	40.00%	38.00%
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	5.00%	9.00%	10.00%
Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	9.00%	9.00%	10.00%
South America
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	16.00%	13.00%	9.00%

Lease Rental Revenues and Fli51

Lease Rental Revenues and Flight Equipment Held for Lease (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Aug. 31, 2015
Revenue from External Customer [Line Items]
Maintenance Revenue	$ 71,049	$ 88,006	$ 68,342
Revenue	733,417	714,654	644,929
Net Book Value	5,867,062	5,579,718		$ 115,888
RUSSIAN FEDERATION
Revenue from External Customer [Line Items]
Maintenance Revenue		29,867
Revenue	0	86,512	0
UNITED STATES
Revenue from External Customer [Line Items]
Revenue	$ 0	$ 0	$ 74,274
Geographic Concentration Risk | Total Revenue | RUSSIAN FEDERATION
Revenue from External Customer [Line Items]
Percentage of geographic concentration	0.00%	11.00%	0.00%
Geographic Concentration Risk | Total Revenue | UNITED STATES
Revenue from External Customer [Line Items]
Percentage of geographic concentration	0.00%	0.00%	10.00%
Geographic Concentration Risk | Leased Assets [Member]
Revenue from External Customer [Line Items]
Percentage of geographic concentration	100.00%	100.00%

Lease Rental Revenues and Fli52

Lease Rental Revenues and Flight Equipment Held for Lease (Details 4) - Aircraft	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	162		148
Number of offlease aircraft marketed for lease	1		1
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	64		65
Asia and Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	49		46
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	17		17
South America
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	22		13
Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	9		6
Off-lease
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	1	[1]	1
Geographic Concentration Risk | Leased Assets [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	100.00%		100.00%
Geographic Concentration Risk | Leased Assets [Member] | Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	26.00%		29.00%
Geographic Concentration Risk | Leased Assets [Member] | Asia and Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	39.00%		40.00%
Geographic Concentration Risk | Leased Assets [Member] | North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	6.00%		7.00%
Geographic Concentration Risk | Leased Assets [Member] | South America
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	19.00%		14.00%
Geographic Concentration Risk | Leased Assets [Member] | Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	10.00%		10.00%
Geographic Concentration Risk | Leased Assets [Member] | Off-lease
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	0.00%		0.00%
[1]	Consisted of one Airbus A320-200 aircraft, which was subject to a commitment to lease and was delivered to our customer in February 2015.

Lease Rental Revenues and Fli53

Lease Rental Revenues and Flight Equipment Held for Lease (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Lessee	Dec. 31, 2014USD ($)Lessee	Dec. 31, 2013Lessee	Aug. 31, 2015USD ($)
Revenue, Major Customer [Line Items]
Net Book Value	$ 5,867,062	$ 5,579,718		$ 115,888
Maintenance Payments
Revenue, Major Customer [Line Items]
Lease incentive, payable	$ 21,432	$ 22,833
Major Customer Group 1
Revenue, Major Customer [Line Items]
Concentration Risk, Number of Customers in Major Customer Group | Lessee	3	3	4
Lease Revenue | Customer Concentration Risk | Major Customer Group 1
Revenue, Major Customer [Line Items]
Percentage of geographic concentration	17.00%	17.00%	24.00%
INDONESIA
Revenue, Major Customer [Line Items]
Number of Lessees at Period End | Lessee	3
Net Book Value	$ 661,178
INDONESIA | Leased Assets [Member]
Revenue, Major Customer [Line Items]
Percentage of geographic concentration	11.00%

Net Investment in Finance Lea54

Net Investment in Finance Leases Narrative (Details)	Dec. 31, 2015AircraftCustomer
UNITED STATES
Capital Leased Assets [Line Items]
Capital Leased Assets, Number of Units	7
Capital Leased Assets, Number of Customers | Customer	2
NETHERLANDS
Capital Leased Assets [Line Items]
Capital Leased Assets, Number of Units	1
GERMANY
Capital Leased Assets [Line Items]
Capital Leased Assets, Number of Units	3
Capital Leased Assets, Number of Customers | Customer	2

Net Investment in Finance Lea55

Net Investment in Finance Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Leases [Abstract]
Total lease payments to be received	$ 156,364
Less: Unearned income	(69,175)
Estimated residual values of leased flight equipment (unguaranteed)	114,022
Net investment in finance and sales-type leases	201,211	$ 106,651
2,014	26,075
2,015	24,247
2,016	18,625
2,017	18,545
2,018	17,690
Thereafter	51,182
Total lease payments to be received	$ 156,364

Unconsolidated Equity Method 56

Unconsolidated Equity Method Investment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Feb. 05, 2016
Schedule of Equity Method Investments [Line Items]
Proceeds from Sale of Flight Equipment	$ 562,518	$ 832,961	$ 568,045
Customer Advances and Deposits	370,281	333,456
Movement in Equity Method Investment [Roll Forward]
Investment in joint venture at December 31, 2013	46,453
Earnings from joint venture, net of tax	6,257	3,054	53
Investment in joint venture at December 31, 2014	50,377	46,453
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	0	667	0
Return of Capital and Cumulative Net Income (Loss) from Equity Method Investment	$ (5,727)	(3,774)
Equity Method Investee | OTPP [Member]
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Equity Method Investments		26,050
Equity Method Investment, Ownership Percentage	30.00%
Movement in Equity Method Investment [Roll Forward]
Investment in joint venture at December 31, 2013	$ 46,453	21,123
Investment in joint venture	3,394
Earnings from joint venture, net of tax	6,257	3,054
Investment in joint venture at December 31, 2014	50,377	$ 46,453	$ 21,123
Maintenance Payments | Equity Method Investee | OTPP [Member]
Schedule of Equity Method Investments [Line Items]
Customer Advances and Deposits	6,670
security deposit [Member] | Equity Method Investee | OTPP [Member]
Schedule of Equity Method Investments [Line Items]
Customer Advances and Deposits	$ 5,400
Subsequent Event [Member] | OTPP [Member]
Schedule of Equity Method Investments [Line Items]
Percentage Ownership of Aircastle's Outstanding Shares				10.00%

Variable Interest Entities (Det

Variable Interest Entities (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)AircraftTerm_LoanSubsidiaryEntity$ / shares	Dec. 31, 2014USD ($)
Variable Interest Entity [Line Items]
Borrowings from secured financings, net of debt issuance costs	$ 1,146,238	$ 1,373,131
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Number of VIE's consolidated | Entity	7
Number of Aircraft Sold | Aircraft	12
Variable Interest Entity, Primary Beneficiary | Securitization No. 2 | Class A-1 Notes [Member]
Variable Interest Entity [Line Items]
Number of Variable Interest Entities | Subsidiary	2
ACS Ireland VIEs [Member] | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Percentage of common shares owned	95.00%
Limitation of trust risk to annual dividend | $ / shares	$ 2
Number of aircraft transferred to historical cost basis | Aircraft	4
Combined assets	$ 65,952
Elimination of class E-1 securities by consolidation	42,140
ACS Ireland VIEs [Member] | Variable Interest Entity, Primary Beneficiary | Class E-1 Securities [Member]
Variable Interest Entity [Line Items]
Borrowings from secured financings, net of debt issuance costs	$ 40,351
Air Knight VIEs [Member] | Variable Interest Entity, Primary Beneficiary | ECA Term Financings
Variable Interest Entity [Line Items]
Number of outstanding term loan | Term_Loan	8
Debt Instrument, Term	12 years
Net book value of flight equipment held for lease	$ 619,530
Consolidated debt outstanding	$ 390,712

Borrowings from Secured and U58

Borrowings from Secured and Unsecured Debt Financings (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2015USD ($)Aircraft	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Borrowings from secured financings		$ 1,146,238	$ 1,373,131
Number of Aircraft Financed | Aircraft		44
Borrowings from unsecured financings, net of debt issuance costs		$ 2,894,918	2,371,456
Total		4,041,156	3,744,587
Secured Debt [Member]
Debt Instrument [Line Items]
Borrowings from secured financings		1,146,238	1,373,131
Line of Credit | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowings from unsecured financings, net of debt issuance costs		225,000	200,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Borrowings from unsecured financings, net of debt issuance costs		$ 2,894,918	2,371,456
Revolving Credit Facility [Member] | Line of Credit
Debt Instrument [Line Items]
Interest rate on senior notes due		2.6719%
Unsecured Debt [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense		$ (30,082)	(28,544)
Securitization No. 2 | Secured Debt [Member]
Debt Instrument [Line Items]
Borrowings from secured financings		$ 125,366	391,680
Number of Aircraft Financed | Aircraft		23
Interest rate on senior notes due	[1]	0.5855%
ECA Term Financings | Notes Payable, Other Payables
Debt Instrument [Line Items]
Borrowings from secured financings		$ 404,491	449,886
Number of Aircraft Financed | Aircraft		8
Debt instrument, interest rate, stated percentage rate range, minimum	[1]	3.02%
Debt instrument, interest rate, stated percentage rate range, maximum	[1]	3.96%
Bank Financings | Notes Payable to Banks
Debt Instrument [Line Items]
Borrowings from secured financings		$ 636,970	554,888
Number of Aircraft Financed | Aircraft		13
Debt instrument, interest rate, stated percentage rate range, minimum	[1]	1.32%
Debt instrument, interest rate, stated percentage rate range, maximum	[1]	5.09%
Secured Debt [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense		$ (20,589)	(23,323)
Senior Notes due 2017 | Senior Notes
Debt Instrument [Line Items]
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000	500,000
Interest rate on senior notes due	[1]	6.75%
Senior Notes Due 2018 with 9.75 Interest Rate [Member] | Senior Notes
Debt Instrument [Line Items]
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000	0
Interest rate on senior notes due	[1]	5.50%
Senior Notes due 2018 with 4.625% Interest Rate | Senior Notes
Debt Instrument [Line Items]
Borrowings from unsecured financings, net of debt issuance costs		$ 400,000	400,000
Interest rate on senior notes due	[1]	4.625%
Senior Notes due 2019 | Senior Notes
Debt Instrument [Line Items]
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000	500,000
Interest rate on senior notes due	[1]	6.25%
Senior Notes due 2020 | Senior Notes
Debt Instrument [Line Items]
Borrowings from unsecured financings, net of debt issuance costs		$ 300,000	300,000
Interest rate on senior notes due	[1]	7.625%
Senior Notes Due 2021 [Member] [Member] | Senior Notes
Debt Instrument [Line Items]
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000	$ 500,000
Senior Notes due 2021 [Member] | Senior Notes
Debt Instrument [Line Items]
Interest rate on senior notes due	[1]	5.125%
[1]	Reflects the floating rate in effect at the applicable reset date plus the margin for Securitization No. 2, three of our Bank Financings and our Revolving Credit Facility. All other financings have a fixed rate.

Borrowings from Secured and U59

Borrowings from Secured and Unsecured Debt Financings (Details 1) - Secured Debt [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Securitization No. 1 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest Rate on any Advances	100.00%
Securitization No. 2 | HSH Nordbank AG
Debt Instrument [Line Items]
Available Liquidity	$ 65,000	$ 65,000
Unused Fee	0.50%
Securitization No. 2 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest Rate on any Advances	75.00%

Borrowings from Secured and U60

Borrowings from Secured and Unsecured Debt Financings Borrowings from Secured and Unsecured Debt Financings (Details 2) $ in Thousands	Dec. 31, 2015USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2,014	$ 221,936
2,015	672,027
Long-term Debt, Maturities, Repayments of Principal in Year Three	521,864
2,017	834,661
Long-term Debt, Maturities, Repayments of Principal in Year Five	412,240
Thereafter	1,433,268
Total	$ 4,095,996	[1]
[1]	___

Borrowings from Secured and U61

Borrowings from Secured and Unsecured Debt Financings (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	May. 31, 2015AircraftBankfinancings	Mar. 31, 2015	Dec. 31, 2015USD ($)Aircraft	Dec. 31, 2014USD ($)Aircraft	Dec. 31, 2013USD ($)	Aug. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Jan. 26, 2015USD ($)	Jan. 15, 2015USD ($)	Mar. 31, 2014USD ($)
Debt Instrument [Line Items]
Repayments of Long-term Debt			$ 681,393	$ 984,517	$ 510,162
Number of Aircraft | Aircraft			162	148
Net Book Value			$ 5,867,062	$ 5,579,718		$ 115,888
Borrowings from unsecured financings, net of debt issuance costs			2,894,918	2,371,456
Term debt financings assumed in asset acquisitions			0	39,061	$ 84,721
Line of Credit | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowings from unsecured financings, net of debt issuance costs			$ 225,000	$ 200,000
Bank Financings, Floating Rate [Member] | Notes Payable to Banks | A330-300 [Member]
Debt Instrument [Line Items]
Number of debt instruments | Bankfinancings	2
Debt Instrument, Face Amount							$ 150,000
Number Of Aircraft | Aircraft	2
Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage									5.50%
Borrowings from unsecured financings, net of debt issuance costs									$ 500,000
Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member] | Company Redemption Option
Debt Instrument [Line Items]
Interest Rate on any Advances		5000.00%
Debt Instrument, Redemption Price, Percentage		105.50%
Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member] | Company Redemption Option | Maximum
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		100.00%
Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member] | Change in Control
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		101.00%
Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member] | Change in Control | Maximum
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		35.00%
ECA Term Financings | Notes Payable, Other Payables
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate			3.57%
Bank Financings | Notes Payable, Other Payables
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate			3.23%
Debt Instrument, Minimum Net Worth Covenant Required			$ 500,000
2013 Revolving Credit Facility | Line of Credit | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity								$ 600,000		$ 450,000
Line of Credit Facility, Fair Value of Amount Outstanding			$ 225,000

Shareholders' Equity and Shar62

Shareholders' Equity and Share Based Payment (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Non-vested beginning balance	621,300	694,700
Granted	308,800	341,100	457,500
Cancelled	(10,600)	(69,100)	(1,500)
Vested	(268,100)	(345,400)	(322,500)
Non-vested ending balance	651,400	621,300	694,700
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments, Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Beginning Period, Weighted average grant date fair value	$ 16.15	$ 13.49	$ 12.21
Weighted average grant date fair value, Non-vested shares granted	21.58	18.80	13.98
Weighted average grant date fair value, Non-vested shares cancelled	19.22	15.89	13.11
Weighted average grant date fair value, Vested shares	15.82	13.47	11.96
Ending Period, Weighted average grant date fair value	$ 18.81	$ 16.15	$ 13.49

Shareholders' Equity and Shar63

Shareholders' Equity and Share Based Payment Shareholders' Equity and Share Based Payment (Details Textual) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2016	Feb. 05, 2016	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Feb. 18, 2015	Jan. 01, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchased During Period, Value				$ 20,881	$ 2,092	$ 7,821
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized			$ 6,957	$ 6,957
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition				2 years 22 days
Common shares, par value			$ 0.01	$ 0.01	$ 0.01
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number			651,400	651,400	621,300	694,700		561,200
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage Ownership of Aircastle's Outstanding Shares							21.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage Ownership of Aircastle's Outstanding Shares							27.50%
2014 plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance			2,500,000	2,500,000
2005 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance			713,540	713,540
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number			302,942	302,942
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchased During Period, Value			$ 18,921
Stock Repurchased During Period, Shares			955,235
Remaining authorized repurchase amount					$ 100,000
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock Acquired, Average Cost Per Share		$ 19.19
Remaining authorized repurchase amount		$ 50,000
Subsequent Event [Member] | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchased During Period, Value	$ 31,079	$ 50,000
Stock Repurchased During Period, Shares	1,650,778	2,606,013
Marubeni [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage Ownership of Aircastle's Outstanding Shares		27.00%

Dividends (Details)

Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 30, 2015	Aug. 04, 2015	May. 04, 2015	Feb. 17, 2015	Oct. 31, 2014	Jul. 28, 2014	May. 05, 2014	Feb. 21, 2014	Oct. 29, 2013	Aug. 02, 2013	May. 01, 2013	Feb. 18, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Dividends [Abstract]
Dividend per Common Share	$ 0.24	$ 0.22	$ 0.22	$ 0.22	$ 0.22	$ 0.200	$ 0.200	$ 0.2000	$ 0.200	$ 0.165	$ 0.165	$ 0.165	$ 0.900	$ 0.820	$ 0.695
Aggregate Dividend Amount	$ 19,377	$ 17,860	$ 17,863	$ 17,860	$ 17,817	$ 16,201	$ 16,202	$ 16,201	$ 16,163	$ 13,330	$ 11,297	$ 11,268	$ 72,960	$ 66,421	$ 52,058

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Weighted-average shares:
Common shares outstanding	80,489,391	80,389,349	73,652,996
Restricted common shares	615,611	588,077	593,616
Total weighted average shares	81,105,002	80,977,426	74,246,612
Percentage of weighted-average shares:
Common shares outstanding	99.24%	99.27%	99.20%
Restricted common shares	0.76%	0.73%	0.80%
Total	100.00%	100.00%	100.00%

Earnings Per Share (Details 1)

Earnings Per Share (Details 1) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Restricted common shares									0.76%		0.73%	0.80%
Earnings per common share — Basic:
Income from continuing operations	$ 50,641	$ (13,989)	$ 41,808	$ 43,269	$ 72,764	$ 19,151	$ 3,136	$ 5,777	$ 121,729		$ 100,828	$ 29,781
Less: Distributed and undistributed earnings allocated to restricted common shares(a)									(924)	[1]	(732)	(238)
Income from continuing operations available to common shareholders — Basic									$ 120,805		$ 100,096	$ 29,543
Weighted-average common shares outstanding — Basic									80,489,391		80,389,349	73,652,996
Net income per share (in dollars per share)	$ 0.63	$ (0.17)	$ 0.51	$ 0.53	$ 0.90	$ 0.24	$ 0.04	$ 0.07	$ 1.50		$ 1.25	$ 0.40
Earnings per common share — Diluted:
Income from continuing operations	$ 50,641	$ (13,989)	$ 41,808	$ 43,269	$ 72,764	$ 19,151	$ 3,136	$ 5,777	$ 121,729		$ 100,828	$ 29,781
Income from continuing operations available to common shareholders — Diluted									$ 120,805		$ 100,096	$ 29,543
Weighted-average common shares outstanding — Basic									80,489,391		80,389,349	73,652,996
Effect of diluted shares									0	[2]	0
Weighted-average common shares outstanding — Diluted									80,489,391		80,389,349	73,652,996
Net income per share (in dollars per share)	$ 0.63	$ (0.17)	$ 0.51	$ 0.53	$ 0.90	$ 0.24	$ 0.04	$ 0.07	$ 1.50		$ 1.25	$ 0.40
[1]	For the years ended December 31, 2015, 2014 and 2013, distributed and undistributed earnings to restricted shares is 0.76%, 0.73% and 0.80%, respectively, 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 years ended December 31, 2015, 2014 and 2013, we have no dilutive shares.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Sources of income from continuing operations before income taxes
U.S. operations	$ 2,433	$ 2,047	$ 2,730
Non-U.S. operations	125,810	109,590	36,213
Income from continuing operations before income taxes and earnings of unconsolidated equity method investment	$ 128,243	$ 111,637	$ 38,943

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal	$ 4,167	$ 1,571	$ 1,742
State	994	390	515
Non-U.S	14,499	9,040	2,542
Current income tax provision	19,660	11,001	4,799
Deferred:
Federal	829	2,335	963
State	57	932	386
Non-U.S	(7,775)	(405)	3,067
Deferred income tax provision (benefit)	(6,889)	2,862	4,416
Total	$ 12,771	$ 13,863	$ 9,215

Income Taxes (Details 3)

Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets:
Non-cash share based payments	$ 1,483	$ 1,106	$ 1,139
Net operating loss carry forwards	52,007	42,900	23,137
Interest rate derivatives	0	35	863
Other	761	340	356
Total deferred tax assets	54,251	44,381	25,495
Deferred tax liabilities:
Accelerated depreciation	(87,716)	(79,360)	(56,312)
Other	(442)	(1,795)	(1,143)
Total deferred tax liabilities	88,158	81,155	57,455
Deferred Income Tax Liabilities, Net	(33,907)	(36,774)	$ (31,960)
Deferred Tax Liabilities, Net	$ (35,269)	$ (37,340)

Income Taxes (Details 4)

Income Taxes (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Analysis of effective income tax rate for continuing operations
Notional U.S. federal income tax expense at the statutory rate:	$ 44,885	$ 39,073	$ 13,630
U.S. state and local income tax, net	221	189	195
Non-deductible expenses in the U.S.	737	644	447
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	(165)	(468)	(87)
Income tax provision	12,771	13,863	9,215
Bermuda | Foreign Tax Authority
Analysis of effective income tax rate for continuing operations
Non-U.S. operations	(20,789)	(12,424)	4,749
Ireland | Foreign Tax Authority
Analysis of effective income tax rate for continuing operations
Non-U.S. operations	(3,073)	(4,732)	(5,514)
SINGAPORE | Foreign Tax Authority
Analysis of effective income tax rate for continuing operations
Non-U.S. operations	(5,650)	(5,529)	(597)
Other low tax jurisdictions | Foreign Tax Authority
Analysis of effective income tax rate for continuing operations
Non-U.S. operations	$ (3,395)	$ (2,890)	$ (3,608)

Income Taxes (Textual) (Details

Income Taxes (Textual) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Operating Loss Carryforwards [Line Items]
Undistributed Earnings of Foreign Subsidiaries	$ 10,603
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries	3,181
UNITED STATES | Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	27,631
Irish, Mauritius and Singapore | Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 520,177

Interest, Net (Details)

Interest, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest Income (Expense), Net [Abstract]
Interest on borrowings, net settlements on interest rate derivatives, and other liabilities	$ 204,326	$ 189,135	$ 196,176
Hedge ineffectiveness losses	455	738	371
Amortization of interest rate derivatives related to deferred losses	24,023	34,979	33,265
Amortization of deferred financing costs	14,878	13,961	14,719
Interest Expense	243,682	238,813	244,531
Less: Interest income	(105)	(435)	(774)
Interest, net	$ 243,577	$ 238,378	$ 243,757

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2015USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,014	$ 921
2,015	736
2,016	751
2,017	765
2,018	779
Thereafter	1,602
Total	$ 5,554

Commitments and Contingencies74

Commitments and Contingencies Commitments and Contingencies (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2015Aircraft	Feb. 05, 2016USD ($)Aircraft	Dec. 31, 2015USD ($)Aircraft
Long-term Purchase Commitment [Line Items]
Long-term Purchase Commitment, Minimum Quantity Required | Aircraft	25
Purchase Obligation | $			$ 1,347,836
Long Term Purchase Rights | Aircraft	25
Unrecorded Unconditional Purchase Obligation, Minimum Quantity Required | Aircraft			35
Unrecorded Unconditional Purchase Obligation | $			$ 1,347,836
Subsequent Event [Member]
Long-term Purchase Commitment [Line Items]
Unrecorded Unconditional Purchase Obligation, Minimum Quantity Required | Aircraft		37
Unrecorded Unconditional Purchase Obligation | $		$ 1,423,836
Pre-Delivery Payments [Member]
Long-term Purchase Commitment [Line Items]
Purchase Obligation | $			$ 142,170

Commitments and Contingencies75

Commitments and Contingencies Commitments and Contingencies Details 1 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 1,163	$ 1,150	$ 1,236
Purchase Obligation, Future Minimum Payments, Remainder of Fiscal Year	273,508
Purchase Obligation, Due in Second Year	170,252
Purchase Obligation, Due in Third Year	258,130
Purchase Obligation, Due in Fourth Year	293,267
Purchase Obligation, Due in Fifth Year	214,401
Purchase Obligation, Due after Fifth Year	138,278
Purchase Obligation	$ 1,347,836

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Principal components of other assets
Deferred federal income tax asset	$ 1,362	$ 567
Lease incentives and lease premiums, net of amortization of $31,623 and $26,477, respectively	86,874	75,587
Flight equipment held for sale	12,901	7,455
Other assets	22,570	21,841
Total other assets	123,707	105,450
Amortization of lease incentives and lease premiums	$ 31,623	$ 26,477

Accounts Payable, Accrued Exp77

Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accounts payable and accrued expenses	$ 34,457	$ 40,765
Deferred Tax Liabilities, Net	35,269	37,340
Accrued interest payable	37,606	27,795
Lease discounts, net of amortization of $19,403 and $9,247, respectively	22,443	32,084
Derivative Liability	1,283	2,879
Total accounts payable, accrued expenses and other liabilities	131,058	140,863
Deferred revenue, leases, accumulated amortization	$ 19,403	$ 9,247

Accumulated Other Comprehensi78

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ (38,460)
Other comprehensive income	25,247		$ 37,445	$ 50,385
Ending balance	(13,213)		(38,460)
Tax effect of change in fair value of derivatives	35		828	482
Losses on cash flow hedges	243,682		238,813	244,531
Interest Rate Contract [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(38,460)		(75,905)
Amount recognized in other comprehensive loss on derivatives, net of tax expense of $14 and $718, respectively	(2,113)	[1]	(3,683)
Amounts reclassified from accumulated other comprehensive loss into income, net of tax expense of $21 and $110, respectively	27,360	[1]	41,128
Other comprehensive income	25,247		37,445
Ending balance	(13,213)		(38,460)	$ (75,905)
Interest Rate Contract [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Amounts reclassified from accumulated other comprehensive loss into income, net of tax expense of $21 and $110, respectively	(27,360)		(41,128)
Interest Rate Contract [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges Amortization [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Losses on cash flow hedges	24,023	[2],[3]	34,979
Interest Rate Contract [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges, Net Settlements [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Losses on cash flow hedges	$ 3,337	[2],[3]	$ 6,149
[1]	All amounts are net of tax. Amounts in parentheses indicate debits.
[2]	All amounts are net of tax.
[3]	Included in interest expense.

Accumulated Other Comprehensi79

Accumulated Other Comprehensive Loss (Details textual) (Details) - Terminated Interest Rate Contract [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Interest Rate, Designated Derivatives, Deferred Gain or Loss Expected to be Amortized In Next Twelve Months	$ 9,056
Other Financings [Member]
Interest Rate, Designated Derivatives, Deferred Gain or Loss Expected to be Amortized In Next Twelve Months	1,334
Securitization Number One [Member]
Interest Rate, Designated Derivatives, Deferred Gain or Loss Expected to be Amortized In Next Twelve Months	4,855
Term Financing No.1 -- terminated 2012 [Member]
Interest Rate, Designated Derivatives, Deferred Gain or Loss Expected to be Amortized In Next Twelve Months	1,118
ECA Term Financings [Member]
Interest Rate, Designated Derivatives, Deferred Gain or Loss Expected to be Amortized In Next Twelve Months	$ 1,749

Quarterly Financial Data (Una80

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 208,267	$ 212,074	$ 204,565	$ 194,296	$ 238,257	$ 177,596	$ 226,146	$ 176,603	$ 819,202	$ 818,602	$ 708,645
Net income	$ 50,641	$ (13,989)	$ 41,808	$ 43,269	$ 72,764	$ 19,151	$ 3,136	$ 5,777	$ 121,729	$ 100,828	$ 29,781
Basic earnings per share:
Earnings (loss) per common share - Basic (in dollars per share)	$ 0.63	$ (0.17)	$ 0.51	$ 0.53	$ 0.90	$ 0.24	$ 0.04	$ 0.07	$ 1.50	$ 1.25	$ 0.40
Diluted earnings per share:
Earnings (loss) per common share - Diluted (in dollars per share)	$ 0.63	$ (0.17)	$ 0.51	$ 0.53	$ 0.90	$ 0.24	$ 0.04	$ 0.07	$ 1.50	$ 1.25	$ 0.40