Aircastle valuation range lowered to $14-$15 from $15.50-$16.50 at Wells Fargo Wells Fargo reduced its valuation range on Aircastle, citing a Financial Times report that cargo operator Southern Air had reduced its FY12 EBITDA forecast by about 55%. The firm notes that 30% of the value of Aircastle's portfolio is derived from cargo aircraft, but Wells maintains an Outperform rating on the stock.
News For AYR From The Last 14 Days
Check below for free stories on AYR the last two weeks.
Aircastle to issue 15.25% of its common shares to Marubeni Corp. Aircastle announced that it has entered into a definitive agreement with Marubeni Corporation providing for the issuance of approximately 15.25% of the company's common shares, after giving effect to the issuance, at a price of $17 per share, for gross proceeds of approximately $209M. The closing of the issuance is expected to occur during the second or third quarter of 2013.