Aircastle's Corporate Credit Rating Upgraded to BBB- by S&P Global Ratings

STAMFORD, Conn., May 21, 2018 -- Aircastle Limited (NYSE: AYR) ("Aircastle" or the "Company") announced today that S&P Global Ratings has raised the Company's corporate credit rating to BBB- from BB+ on the basis of an improved and expanded aircraft portfolio, with a stable outlook.

Mike Inglese, Aircastle's Chief Executive Officer, stated, "This important recognition from S&P acknowledges the extensive progress that we have made in recent years in simultaneously de-risking and growing our portfolio of modern, in-demand aircraft. This investment grade rating further strengthens Aircastle's ability to achieve long-term, profitable growth and value creation for our shareholders."

Additional information regarding Aircastle's ratings upgrade can be found in the press release dated May 18, 2018 on the S&P Global Ratings website at www.standardandpoors.com.