Aircastle client list: Any disasters?

Posted by Tim
June 11, 2008

I found this list of Aircastle Ltd’s. (AYR: 13.27 +0.44 +3.43%) customer client list on their website. The stock price is in a free fall and I am trying to determine if the market is punishing the stock for good or bad reasons. The bad reason would be a general hammering of airline related companies due to high fuel prices, and the stock will recover if there is no real impact to the company’s financials. The good reason (bad for shareholders) would be that some of Aircastle’s customers will not be making timely payments on their leased jets, thus impacting the earnings of AYR. The list of airlines includes some that scare me (SriLankan Airlines), some I know are in great shape (LAN) and a bunch of who-would-know (Aeroflot). Any feedback anyone?

Note: I have a long position in AYR.

REPRESENTATIVE CLIENT LIST
Aer Lingus
Aeroflot - Russian Airlines
Aerosvit Airlines
AeroMexico
Aigle Azur
Air Berlin
AirBridge Cargo
Air Canada
Air Deccan
Air Europa
Air India
Air India Express
Air Italy
Air One
British Airways
Brussels Airlines
Capital Aviation Services
China Eastern Airlines
China Southern Airlines
Emirates
Futura International Airways
GOL Transportes Aéreos
Great Wall Airlines
Hainan Airlines
Iberia Airlines
Icelandair
Jet Airways
KLM Royal Dutch Airlines
Korean Air
KTHY
LAN Airlines
LatCharter		 LOT Polish Airlines
Lotus Air
Malaysia Airlines
Martinair
Meridiana
Monarch Airlines
National Air Services
OceanAir
Pacific Airlines
Qatar Airways
S7 Airlines
Sama Airlines
SAS Scandinavian Airlines
Shanghai Airlines
Singapore Airlines
Sky Airlines
Skyservice Airlines
Southwest Airlines
SriLankan Airlines
Sterling Airlines
Swiss International Air Lines
TAM Linhas Aéreas
Thomsonfly
Transavia
TUIfly
Turkish Airlines
Ukraine International
US Airways
VivaAerobus
VRG Linhas Aéreas
World Airways


Fear, Growth, Income, International

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Comments
Comment by Flying Translation on June 14, 2008 @ 12:53 am

In the news: US Airways will cancel leases and return 10-12 planes. However, we don’t know for sure if those are Aircastle planes.

Comment by Tim on June 14, 2008 @ 8:19 am

Thanks, I also saw a news clip saying US Air would turn in some leased aircraft. I guess time will tell.

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