AeroCentury Corp.

Burlingame, CA United States

  (NYSE Amex: ACY)

Company Description

With a high-flyin' inventory, AeroCentury leases used turboprop aircraft and engines to domestic and foreign regional airlines and other commercial customers. The company buys equipment from an airline, and then either leases it back to the seller, buys assets already under lease and assumes the obligations of the seller, or makes a purchase and then immediately enters into a new lease with a third-party lessee (when it has a customer committed to a lease). Typically, lessees are responsible for any maintenance costs. AeroCentury owns over 40 aircraft, mainly deHavilland and Fokker models. Almost 90% of the company's lease revenues come from airlines headquartered outside the US.