AeroCentury reports net loss of US$3.2 million for second quarter 2021

AeroCentury, an independent aircraft leasing company, has reported a second-quarter 2021 net loss of US$3.2 million, compared to a net loss of US$13.5 million for the second quarter of 2020.

Revenues and other income decreased by 66% to US$1.5 million in the second quarter of 2021 from US$4.4 million in the second quarter of 2020. The decrease was primarily a result of a 66% decrease in operating lease revenues to US$1.5 million in the second quarter of 2021 from US$4.4 million in the second quarter of 2020.

EBITDA was (US$2.7 million) compared to (US$2.7) million in the preceding quarter and (US$8.3) million in the second quarter a year ago.

Average portfolio utilization was 81% compared to 86% during the preceding quarter and 91% in the second quarter a year ago.

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