Aircastle Limited (NYSE:AYR)
CAPS Rating:
A global company that acquires and leases high-utility commercial jet aircraft to passenger and cargo airlines throughout the world.
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A global company that acquires and leases high-utility commercial jet aircraft to passenger and cargo airlines throughout the world.
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While Aircastle may seem a bit pricey at 33x earnings, the company has a business model with the wind at its back:
- Orders for new aircraft are booked for the next 5 years
- Demand for travel is increasing significantly, particularly in Asia
- Airline fleets for legacy carriers continue to get older, in some cases reaching 40 years in age
In order to both meet increased demand and replace existing supply, the airline industry will become increasingly dependent upon the use of leased aircraft. This puts companies like Aircastle at the forefront of an enormous growth opportunity moving forward. Combine that growth with a 6% dividend, and you have a winner in my book!