Aviation Capital Group (ACG) reported a net income of $26.2 million for the first quarter of 2025, dropping from $43.1 million a year prior.
The company's revenues totalled $280.6 million, down from $308.8 million last year. The lessor's total expenses were down from $263 million in last year's first quarter, to $253.5 million.
The company's cash flows from operations were $124.6 million for the quarter, while cash flows used in investing activities totalled $868.1 million.
As of March 31, 2025, the company held $336.6 million of aircraft held for sale.
During the first quarter, ACG added 15 new technology aircraft, comprising 12 737 MAX family aircraft, two A350-900s, and one A320neo family aircraft. The additions were from a combination of OEM orderbook deliveries and sale leaseback transactions.
In addition, the lessor sold five aircraft, two engines, and one airframe for a net gain of approximately $31.4 million during the first quarter.
As of the end of the quarter, its portfolio had a weighted average age was 5.9 years and a weighted average remaining lease term was 6.9 years. The net debt to equity ratio of 2.3x as of the end of the period.
The lessor also disclosed it delivered one A321neo to Wizz Air on May 15, 2025. The aircraft is powered by Pratt & Whitney GTF engines. The delivery is the second aircraft scheduled for delivery to the airline as part of a multiple sale and leaseback transaction.