Aircraft lessor AeroCentury Corp. released its financial report for the first three months of 2019. The California-based company reported a net loss of $1.3 million, down from the net income of $0.3 million it posted for the same time period in the prior year.
Michael Magnusson, AeroCentury’s president, emphasized that in spite of its recent financial challenges the company has positioned itself for long-term success. Last October, it acquired JetFleet Holding Corp. in order to expand its portfolio of leased aircraft. Now, the company’s fleet includes 30 aircraft on lease to fourteen customers.