AeroCentury Reports Q2 Loss on Impairment Charge

AeroCentury reported a net loss of $3.9 million for Q2/14 compared to net income of $1.3 million for Q2/13. The company reported a net loss of $3.6 million for H1/14, compared to net income of $5.2 million for H1/13.

Total revenues were $7.9 million and $15.9 million for Q2/14 and H1/14, respectively, compared to total revenues of $7.9 million and $20.0 million, respectively, for the same periods a year ago.

The company noted that total expenses increased by $8.0 million and $8.8 million, respectively, in the second quarter of and first six months of 2014 as compared to the same periods in 2013. During the second quarter of 2014, the company recorded impairments totaling $6.8 million for five of its Fokker 100 aircraft, based on appraisal.

To view the full AeroCentury news release, click here.

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