Exhibit 21.1

Subsidiaries of Aircastle Limited
As of December 31, 2007

			Name of Subsidiary			Jurisdiction
1			Aircastle Advisor LLC			Delaware
2			Aircastle Advisor (International) Limited			Bermuda
3			Aircastle Advisor (Ireland) Limited			Ireland
4			Aircastle Bermuda Holding Limited			Bermuda
5			ABH 12 Limited			Bermuda
6			Aircastle Bermuda Securities Limited			Bermuda
7			ACS 2007-1 Limited			Bermuda
8			ACS Aircraft Finance Bermuda Limited			Bermuda
9			ACS Aircraft Finance Ireland 2 Limited			Ireland
10			ACS Aircraft Finance Ireland Public Limited Company			Ireland
11			ACS Aircraft Leasing (Ireland) Limited			Ireland
12			Aircastle Holding Corporation Limited			Bermuda
13			Aircastle Ireland Holding Limited			Ireland
14			Aircastle Ireland No. 1 Limited			Ireland
15			Aircastle Ireland No. 2 Limited			Ireland
16			Aircastle Ireland No. 3 Limited			Ireland
17			Aircastle Investment Holdings Limited			Bermuda
18			Aircastle Investment Holdings 2 Limited			Bermuda
19			Aircastle Investment Holdings 3 Limited			Bermuda
20			Aircraft MSN 138 LLC			Delaware
21			Aircraft MSN 139 LLC			Delaware
22			Aircraft MSN 148 LLC			Delaware
23			Aircraft MSN 151 LLC			Delaware
24			Aircraft MSN 167 LLC			Delaware
25			Aircraft MSN 313 LLC			Delaware
26			Aircraft MSN 324 LLC			Delaware
27			Aircraft MSN 368 LLC			Delaware
28			Aircraft MSN 482 LLC			Delaware
29			Aircraft MSN 637 LLC			Delaware
30			Aircraft MSN 0001 LLC			Delaware
31			Aircraft MSN 1006 LLC			Delaware
32			Aircraft MSN 1012 LLC			Delaware
33			Aircraft MSN 1047 LLC			Delaware
34			Aircraft MSN 1054 LLC			Delaware
35			Aircraft MSN 1059 LLC			Delaware
36			Aircraft MSN 1067 LLC			Delaware
37			Aircraft MSN 1099 LLC			Delaware
38			Aircraft MSN 1101 LLC			Delaware
39			Aircraft MSN 1119 LLC			Delaware
40			Aircraft MSN 24061 LLC			Delaware
41			Aircraft MSN 24084 LLC			Delaware
42			Aircraft MSN 24330 LLC			Delaware
43			Aircraft MSN 24331 LLC			Delaware
44			Aircraft MSN 24541 LLC			Delaware
45			Aircraft MSN 24570 LLC			Delaware

			Name of Subsidiary			Jurisdiction
46			Aircraft MSN 24738 LLC			Delaware
47			Aircraft MSN 24747 LLC			Delaware
48			Aircraft MSN 24748 LLC			Delaware
49			Aircraft MSN 24838 LLC			Delaware
50			Aircraft MSN 24952 LLC			Delaware
51			Aircraft MSN 24975 LLC			Delaware
52			Aircraft MSN 25000 LLC			Delaware
53			Aircraft MSN 25076 LLC			Delaware
54			Aircraft MSN 25117 LLC			Delaware
55			Aircraft MSN 25587 LLC			Delaware
56			Aircraft MSN 25702 LLC			Delaware
57			Aircraft MSN 25703 LLC			Delaware
58			Aircraft MSN 27137 LLC			Delaware
59			Aircraft MSN 27152 LLC			Delaware
60			Aircraft MSN 27183 LLC			Delaware
61			Aircraft MSN 27342 LLC			Delaware
62			Aircraft MSN 27425 LLC			Delaware
63			Aircraft MSN 27681 LLC			Delaware
64			Aircraft MSN 27826 LLC			Delaware
65			Aircraft MSN 28038 LLC			Delaware
66			Aircraft MSN 28213 LLC			Delaware
67			Aircraft MSN 28231 LLC			Delaware
68			Aircraft MSN 28414 LLC			Delaware
69			Aircraft MSN 28867 LLC			Delaware
70			Aircraft MSN 29045 LLC			Delaware
71			Aircraft MSN 29046 LLC			Delaware
72			Aircraft MSN 29329 LLC			Delaware
73			Aircraft MSN 29345 LLC			Delaware
74			Aircraft MSN 29916 LLC			Delaware
75			Aircraft MSN 29917 LLC			Delaware
76			Aircraft MSN 29918 LLC			Delaware
77			Aircraft MSN 29919 LLC			Delaware
78			Aircraft MSN 29920 LLC			Delaware
79			Aircraft MSN 35233 LLC			Delaware
80			Aircraft MSN 35235 LLC			Delaware
81			Aircraft MSN 48445 LLC			Delaware
82			AYR Bermuda Limited			Bermuda
83			AYR Delaware LLC			Delaware
84			AYR Freighter LLC			Bermuda
85			Constellation Aircraft Leasing (France) SARL			France
86			Constitution Aircraft Leasing (Ireland) Limited			Ireland
87			Constitution Aircraft Leasing (Ireland) 2 Limited			Ireland
88			Constitution Aircraft Leasing (Ireland) 3 Limited			Ireland
89			Constitution Aircraft Leasing (Ireland) 4 Limited			Ireland
90			Emer Aircraft Leasing (Ireland) Limited			Ireland
91			Endeavor Aircraft Leasing (Sweden) AB			Sweden
92			Endeavor Aircraft Leasing (Sweden) 2 AB			Sweden
93			Endeavor Aircraft Leasing (Sweden) 3 AB			Sweden
94			Enterprise Aircraft Leasing (France) SARL			France

			Name of Subsidiary			Jurisdiction
95			GAIF Ireland Limited			Ireland
96			GAIF Ireland Two Limited			Ireland
97			GAIF Ireland Three Limited			Ireland
98			GAIF Ireland Four Limited			Ireland
99			GAIF Malaysia I, Ltd.			Labuan
100			GAP Investment Two, LLC			Delaware
101			GAP Investment Twenty-One, LLC			Delaware
102			GAP Investment Twenty-Four, LLC			Delaware
103			GAP Investment Twenty-Five, LLC			Delaware
104			GAP Investment Twenty-Six, LLC			Delaware
105			Grayston Aircraft Leasing Limited			Cayman Islands
106			Injet400 Aircraft Leasing Co Limited			Cayman Islands
107			Injet800 Aircraft Leasing Co Limited			Cayman Islands
108			Intrepid Aircraft Leasing (France) SARL			France
109			Jimin Aircraft Leasing Limited			Bermuda
110			Perdana Aircraft Leasing (Labuan) Limited			Labuan
111			Zebra Aircraft Leasing Limited			Cayman Islands