Aircastle In Fine Shape; Fears Appear Unfounded

A couple of days ago Aircastle Ltd. (AYR) gave a presentation at the Credit Suisse Capital Goods Finance Symposium and it has posted the slide show to its website. The link above is a PDF presentation of the slide show.

Going through the slides, it is apparent that Aircastle is in fine shape with its leased aircraft. From what information I could find about the recent share price drop, there are two fears driving investors away from AYR. First, the general profitability problems for airlines with the recent fuel price increases and indication by many airlines to reduce flights. Second, a specific claim by one of Aircastle’s customers, US Airways (LCC), to turn in some leased aircraft. From the presentation it appears that the company will not have a problem keeping its aircraft leased and the US Airways jets are on uncancelable leases.