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Borrowings from Secured and Unsecured Debt Financings
 3 Months Ended
May 31, 2026
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 debt financings were as follows:
 
At May 31, 2026
At
February 28, 2026
Debt ObligationOutstanding
Borrowings		Number of AircraftInterest RateFinal Stated
Maturity		Outstanding
Borrowings
Secured Debt Financings:
Other Financings(1)
$113,337 4
2.36% to 4.14%
11/30/31 to 06/27/32$114,177 
Less: Debt issuance costs and discounts(1,745)(1,822)
Total secured debt financings, net of debt issuance costs and discounts111,592 112,355 
Unsecured Debt Financings:
Senior Notes due 2026(2)
— 4.25%06/15/26650,000 
2.850% Senior Notes due 2028750,000 2.85%01/26/28750,000 
6.500% Senior Notes due 2028650,000 6.50%07/18/28650,000 
Senior Notes due 2029650,000 5.95%02/15/29650,000 
5.250% Senior Notes due 2030500,000 5.25%03/15/30500,000 
5.000% Senior Notes due 2030650,000 5.00%09/15/30650,000 
5.000% Senior Notes due 2031650,000 5.00%05/15/31— 
5.750% Senior Notes due 2031500,000 5.75%10/01/31500,000 
Unsecured Term Loans975,000 
4.94% to 5.06%
04/28/30 to 05/20/31600,000 
Revolving Credit Facilities20,000 
 5.56%
01/30/29240,000 
   Less: Debt issuance costs and discounts(56,605)(50,589)
Total unsecured debt financings, net of debt issuance costs and discounts5,288,395 5,139,411 
Total secured and unsecured debt financings, net of debt issuance costs and discounts$5,399,987 $5,251,766 
______________
(1)The borrowings under these financings as of May 31, 2026, have a weighted average fixed rate of interest of 3.11%.
(2)Repaid on May 13, 2026 with no gain or loss on the early extinguishment of debt.
Unsecured Debt Financings
Unsecured Term Loan
On May 20, 2026, Aircastle Advisor, LLC (“AALLC”), a wholly-owned subsidiary of the Company, entered into a credit agreement with the lender parties thereto (the “Unsecured Term Loan Credit Agreement”) providing for a $375.0 million unsecured term loan (the “Unsecured Term Loan”). The Unsecured Term Loan bears interest at a floating rate under the Term SOFR (as defined in the Unsecured Term Loan Credit Agreement) plus 1.30% per annum and matures on May 20, 2031. The total credit commitment under the Unsecured Term Loan may be increased up to a maximum amount of $425.0 million on or before November 20, 2026. The Unsecured Term Loan Credit Agreement contains, among other customary provisions, a $1.1 billion minimum net worth covenant, a 2.0:1.0 minimum interest coverage ratio covenant, and a 1.25:1.0 minimum unencumbered asset ratio. The Company and Aircastle (Ireland) Designated Activity Company (“AIDAC”), a wholly-owned subsidiary of the Company, agreed to fully and unconditionally guarantee AALLC’s obligations under the Unsecured Term Loan Credit Agreement.
5.000% Senior Notes due 2031
On April 28, 2026, the Company and AIDAC issued $650.0 million aggregate principal amount of 5.000% Senior Notes due 2031 (the “5.000% Senior Notes due 2031”) at an issue price of 99.636%. The Company’s and AIDAC’s obligations under the 5.000% Senior Notes due 2031 are fully and unconditionally guaranteed by AALLC. The 5.000% Senior Notes due 2031 will mature on May 15, 2031, and bear interest at a rate of 5.00% per annum, payable semi-annually on May 15 and November 15 of each year, commencing on November 15, 2026.
Revolving Credit Facilities
As of May 31, 2026, we had $20.0 million outstanding under our revolving credit facilities and had $2.1 billion available for borrowing.
As of May 31, 2026, we were in compliance with all applicable covenants in our financings.