For over three years TydenBrooks has been a suppler to the industry in preparation of the Certified Cargo Screening Program implementation.  Finally, the 100% air cargo screening mandate date of August 1st has arrived. TydenBrooks was one of the original participating vendors within the TSA pilot program for tamper evident tape and has advised a variety of companies on implementing appropriate TET (tamper evident technology) solutions for their business.

As the world's leader in tamper evident seals, we are the only seal manufacturer that has achieved the Tier II level within the C-TPAT program and is certified under the SAFETY Act. TydenBrooks has developed a reputation for providing compliant and cost effective solutions to the global logistics community.

TydenBrooks deeply understands the "chain of custody standards" of the screening program. Whether your approved screening process includes the use of tamper evident tape, cost effective GPS tracking and tracing between screening locations and multiple airport drop off locations or the use of bar-coded ISO 17712 seals on your delivery conveyance, we can assist you.

TydenBrooks Security Products Group™, an ISO 9001 certified company, is a division of Tyden Group Holding Corp. and conducts business in over 50 countries around the world. We are the only TET supplier that can provide a compliant global seal program covering air cargo screening, C-TPAT as well as the WCO- AEO (Authorized Enterprise Operator) requirements. As the cargo screening program globalizes leading into 2013, working with TydenBrooks as a single source supplier can be very efficient and cost effective.

Visit our new global website www.tydenbrooks.com to understand more about our company capabilities and browse our web store for security solutions.

About TydenBrooks: TydenBrooks was formed in November 2009 by combining two leadership brands (TydenBrammall and E.J.Brooks Company). The company's innovative products have been used by a diverse number of industries for over 136 years to safeguard assets. TydenBrooks provides security seals and locking devices to the transportation, retail, money handling, chemical, pharmaceutical, healthcare and food industries.

About Tyden Group Holding Corp.: Tyden Group companies have become leaders in their industries by serving customers around the world with innovative and customized security solutions and product identification technology. Through its three divisions, TydenBrooks Security Products Group (www.tydenbrooks.com), Brooks Utility Products Group (www.brooksutility.com) and Telesis Technologies (www.telesis.com ) the Company provides products that ensure greater security for the transportation of goods, protection of revenues and assets and increased efficiency throughout the global supply chain.

CONTACT:

Jerry Carrino

TydenBrooks Security Products Group

+1.973.597.2936

jerry.carrino@tydenbrooks.com



SOURCE TydenBrooks Security Products Group

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http://www.tydenbrooks.com

World Airways, a subsidiary of Global Aviation Holdings Inc., has entered into an agreement to add two leased Boeing 747-400 freighters to its fleet.  The aircraft, scheduled for delivery in December 2010 and February 2011, will grow World's B747-400 freighter fleet to four aircraft.

World is also in the process of reactivating a MD-11 freighter that it had placed into storage in 2009.  This aircraft will enter revenue service in September 2010, and will return World's fuel efficient MD-11 freighter fleet to nine active aircraft.

"By growing our Boeing 747-400 and MD-11 freighter fleet, World Airways will be able meet the strong demand for the multiple applications of our modern, long-range, fuel-efficient freighter service," said Brian Bauer, chief commercial officer.

The Boeing 747-400 freighter has a range of 4,600 miles and payload capacity of 247,000 pounds, which makes it ideal for long-range inter-continental service from Asia to the U.S. and Europe. The MD-11 freighter, with a range of 4,100 miles and payload capacity of 205,000 pounds, is an extremely efficient aircraft for inter-continental service from Europe to North America, Africa and the Middle East.

World Airways, a subsidiary of Global Aviation Holdings Inc., provides customized transportation services for major international passenger and cargo carriers, the United States military, major freight forwarders and international leisure tour operators. Founded in 1948, World operates a fleet of wide-body aircraft to meet the specialized needs of its customers. For information, visit www.worldairways.com.

SOURCE World Airways

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RELATED LINKS
http://www.worldairways.com

The Air Transport Association of America (ATA), the industry trade organization for the leading U.S. airlines, issued the following statement in response to today's release of the Department of Transportation (DOT) Bureau of Transportation Statistics (BTS) First-Quarter 2010 report on airfares:

According to BTS data, the average first-quarter domestic one-way fare in 2010 (net of taxes and fees) was $154.91. While airfares are up from 2009, they have returned to 1999 levels, when the average one-way fare was $153.88. Compared to 2008 pre-recession levels, fares grew only 0.4 percent, easily trailing the 2.3 percent jump in the U.S. Consumer Price Index during that same period.

"Travelers certainly appreciate a bargain, and today's airline customers are getting just that – a bargain. They continue to benefit from low airfares, especially considering the rising costs of food, energy and other goods purchased by U.S. consumers," said ATA President and CEO James C. May. "For airlines to add jobs and develop new and improved service, it is critically important that they return to profitability."

May noted that while airfares appear to be stabilizing, the airline industry has been in serious distress throughout the past "lost decade." "This is a positive sign for recovery, not just in the airline sector but across the broader economy as well," May said, further emphasizing that "today's news about increasing fare levels should be kept in perspective; not only are the airlines nowhere near recovering from devastating losses, airfares have not come close to keeping pace with inflation."

Annually, commercial aviation helps drive more than $1 trillion in U.S. economic activity and nearly 11 million U.S. jobs. On a daily basis, U.S. airlines operate approximately 25,000 flights in 80 countries, using more than 6,000 aircraft to carry an average of two million passengers and 50,000 tons of cargo.

ATA airline members and their affiliates transport more than 90 percent of all U.S. airline passenger and cargo traffic. For additional industry information, visit www.airlines.org.

* ATA analysis based on average domestic one-way airfares from the DOT O&D survey net of federal/local taxes and fees.

SOURCE Air Transport Association

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http://www.airlines.org

BioStorage Technologies, a global leader in sample management and cold-chain logistics for the pharma and biotech industries, has recently been approved as a Certified Cargo Screening Facility (CCSF) by the U.S. Transportation Security Administration (TSA). The designation establishes BioStorage Technologies as one of the few sample management providers to achieve this clearance level, which allows the company to pre-screen shipments at its facility, thereby avoiding possible screening delays at the airport.

In 2007, Congress passed the Implementing Recommendations of the 9/11 Commission Act. This law mandates that by August 1, 2010, 100 percent of cargo transported on a passenger aircraft be screened at the piece level, prior to being transported on any passenger aircraft.

For the pharmaceutical and biotech industries, whose shipments typically include temperature and time sensitive materials, this new regulation could pose major obstacles and present bottlenecks in the air cargo supply chain. Due to the substantial increase in screening, shipping activities may contribute to significant delays that cannot be estimated with accuracy. However, pre-inspection at a CCSF may reduce or eliminate such delays as well as reduce the risk of transportation damage at an inspection terminal.

"This new mandate highlights how complex and intricate the pharmaceutical and biotech supply chain has become, which has been exacerbated by time and temperature constraints placed on many biomaterials and medical products," says Lori A. Ball, chief operating officer, BioStorage Technologies.

"Qualifying as a certified cargo screening facility reinforces our commitment to being a leader in sample management while allowing us to provide our customers with prompt and cost-effective shipping of temperature-sensitive biological samples."

Certified Cargo Screening Facilities must meet the rigorous security requirements for their physical location, personnel and screening. Organizations who choose not to participate in the program must consider alternative methods to comply with the mandate. Alternatives include sending goods by truck, rail, maritime, all-cargo aircraft or working with other certified entities including Independent Cargo Screening Facilities (ICSFs) and Indirect Air Carriers (IACs).

About BioStorage Technologies, Inc.:

BioStorage Technologies, Inc. is the global leader in sample storage, inventory management and cold-chain logistics for the biotechnology and pharmaceutical industries. The company offers more than 100,000 square feet of secure, temperature-controlled storage as well as real-time tracking of stored biological samples, and next-day retrieval and shipment of biomaterials. BioStorage Technologies, Inc. is privately held and headquartered in Indianapolis with an additional full-service site near Frankfurt, Germany. For more information, visit www.biostorage.com or call +1 (866) 697-2675 or +49-6155-898-1011.

Press Contact:

Michael Clark

Miller Brooks, Inc.

317-873-8100

michael@millerbrooks.com



SOURCE BioStorage Technologies, Inc.

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RELATED LINKS
http://www.biostorage.com

Aircastle Limited (the "Company" or "Aircastle") (NYSE: AYR) reported second quarter net income of $18.1 million or $0.23 per diluted common share, and adjusted net income of $20.5 million or $0.26 per diluted common share.

Commenting on the results, Ron Wainshal, Aircastle's CEO, stated: "We continued delivering consistently solid portfolio performance during the second quarter, as we benefitted from effective asset management and improving industry conditions.  We also capitalized on our strong operating track record and balance sheet by securing $1.1 billion in new financing commitments from a variety of debt sources, positioning us well to take advantage of a growing set of attractive new investment opportunities."

Lease rental revenue for the second quarter 2010 was $128.1 million, down 1.0% year over year and includes a decrease of $4.0 million due to aircraft transitions and lease extensions, of which $1.1 million relates to aircraft that were on the ground subject to a forward sale agreement.  These decreases were partially offset by the impact of aircraft acquisitions net of dispositions of $3.1 million.

Second quarter total revenues were $130.2 million, a decrease of $6.7 million from the second quarter 2009, and reflect lower lease rental revenue of $1.3 million, lower end of lease maintenance revenue of $2.8 million due to fewer scheduled lease transitions in 2010 and higher non-cash lease incentive amortization of $2.1 million.

EBITDA was $119.2 million, down $6.4 million from the second quarter of 2009, due to lower lease rental revenue and maintenance revenue of $4.1 million, higher mark to market expense on our undesignated hedges of $1.2 million and a loss on the sale of aircraft of $1.3 million.  These decreases in EBITDA were partially offset by lower maintenance and other costs of $1.1 million as a result of higher costs incurred in the second quarter of 2009 for repossessed aircraft.

Adjusted net income plus depreciation and amortization for the quarter was $79.8 million, down $1.5 million year over year, due primarily to lower lease rental revenue and maintenance revenue of $4.1 million, offset by lower maintenance and other expenses of $1.1 million and lower adjusted interest, net of $1.8 million.

Adjusted net income for the quarter was $20.5 million, down $6.4 million year over year, and reflects lower total revenues of $6.7 million, higher depreciation expense of $2.7 million, partially offset by lower maintenance and other costs of $1.1 million and lower adjusted interest, net of $1.8 million.

As disclosed previously, Aircastle owned three Boeing 757-200 aircraft subject to a forward sale agreement.  During the second quarter we completed the sale of the first aircraft and recorded a loss on the sale of $1.3 million reflecting additional maintenance costs incurred to meet delivery conditions under the sale agreement.  We anticipate completing the sale of the second aircraft during the third quarter of 2010.  The final aircraft is currently on lease and is scheduled to return from the current lessee and deliver under the sale agreement in late 2011.

(1) Refer to the selected financial information accompanying this press release for a reconciliation of GAAP to Non-GAAP numbers.

Aviation Assets

As of June 30, 2010, Aircastle owned 129 aircraft having a net book value of $3.7 billion.



Owned Aircraft
as of
June 30,
2010(A)

108 Passenger Aircraft                                                                  

71%

21 Freighter Aircraft                                                                     

29%

Number of Lessees                                                                     

63

Number of Countries                                                                     

36

Weighted Average Remaining Lease Term (years)(B)                                           

4.6

Percentage of Aircraft Leased Outside U.S.                                                  

91%

Percentage of "Latest Generation" Aircraft                                                   

88%

Weighted Average Fleet Utilization during the Three Months ended June 30, 2010(C)                  

98%

Weighted Average Fleet Utilization during the Six Months ended June 30, 2010(C)                    

98%


(A)  Percentages calculated using net book value.
(B)  Weighted average remaining lease term (years) by net value.
(C)  Aircraft on-lease days as a percent of total days in period weighted by net book value, excluding aircraft in freighter conversion.




In June we purchased a Boeing 737-800 aircraft and placed it on lease.  We also have a commitment to acquire three Airbus A330-200 aircraft from Sri Lankan Airlines, the flag carrier of Sri Lanka, in a sale-leaseback transaction (the "A330 SLB Aircraft").  The first aircraft closed in July 2010.  The remaining two aircraft are expected to close in the third quarter of 2010.  In addition we entered into a commitment to purchase one Boeing 737-800 aircraft which is subject to lease and is expected to close in the third quarter of 2010.

Financing Update

In July 2010, Aircastle Limited closed a private placement offering of 9.75% senior unsecured notes due in 2018, in an aggregate principal amount of $300 million.  The notes were issued at 98.645% of par and were offered only to qualified institutional buyers and buyers outside the United States in accordance with Rule 144A and Regulation S, respectively, under the Securities Act of 1933.  We used a portion of the net proceeds of the private placement to repay $25 million drawn under a credit facility used in connection with the purchase of the first A330 SLB Aircraft and plan to use the remaining net proceeds to repay all of its outstanding indebtedness under our Term Financing No. 2 and for general corporate purposes, including the purchase of aviation assets.

We secured a commitment from Citigroup Global Markets Inc. for a $50 million senior unsecured revolving credit facility which will have a three-year term and, subject to the completion of satisfactory documentation, is anticipated to be closed during the course of the third quarter.

In June, we entered into a $108 million loan facility to finance a portion of the pre delivery payments on six new Airbus A330 aircraft under the airbus A330 acquisition agreement (Airbus A330 Agreement).

In addition, in July 2010, we secured new financing commitments for our Airbus A330 Agreement which will benefit from an ECA guarantee provided by Compagnie Francaise d'Assurance pour le Commerce Exterieur, or COFACE, as follows:

  • Sumitomo Mitsui Banking Corporation (SMBC) committed $250 million in debt to finance the first three new A330 Aircraft delivering to South African Airways; and

  • Citibank, N.A. committed approximately $221 million and The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BOTM) committed approximately $227 million, to finance six new A330 Aircraft.

Conference Call

In connection with this earnings release, management will host an earnings conference call on August 10, 2010 at 10:00 A.M. Eastern time.  All interested parties are welcome to participate on the live call.  The conference call can be accessed by dialing (866) 510-4578 (from within the U.S.) or (706) 634-9537 (from outside of the U.S.) ten minutes prior to the scheduled start and referencing the "Aircastle Second Quarter Earnings Call."

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.aircastle.com.  Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast. A replay of the webcast will be available for three months following the call. In addition to this earnings release an accompanying power point presentation has been posted to the Investor Relations section of Aircastle's website.

For those who are not available to listen to the live call, a replay will be available until 11:59 P.M. Eastern time on Tuesday, August 17, 2010 by dialing (800) 642-1687 (from within the U.S.) or (706) 645-9291 (from outside of the U.S.);  please reference passcode "89643753."

About Aircastle Limited

Aircastle Limited is a global company that acquires, leases and sells high-utility commercial jet aircraft to airlines throughout the world.  As of June 30, 2010 Aircastle's aircraft portfolio consisted of 129 aircraft and had 63 lessees located in 36 countries.

Safe Harbor

Certain items in this press release and other information we provide from time to time, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to our ability to acquire, sell,  lease or finance aircraft, raise capital, pay dividends, and increase revenues, earnings, EBITDA, Adjusted Net Income and Adjusted Net Income plus Depreciation and Amortization and the global aviation industry and aircraft leasing sector. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "may," "will," "would," "could," "should," "seeks," "estimates" and variations on these words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements; Aircastle Limited can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. Factors that could have a material adverse effect on our operations and future prospects or that could cause actual results to differ materially from Aircastle Limited's expectations include, but are not limited to, prolonged capital markets disruption and volatility, which may adversely affect our continued ability to obtain additional capital to finance our working capital needs, our pre-delivery payment obligations and other aircraft acquisition commitments, our ability to extend or replace our existing financings, and the demand for and value of aircraft; our exposure to increased bank and counterparty risk caused by credit and capital markets disruptions; volatility in the value of our aircraft or in appraisals thereof, which may, among other things, result in increased principal payments under our term financings and reduce our cash flow available for investment or dividends; general economic conditions and business conditions affecting demand for aircraft and lease rates; our continued ability to obtain favorable tax treatment in Bermuda, Ireland and other jurisdictions; our ability to pay dividends; high or volatile fuel prices, lack of access to capital, reduced load factors and/or reduced yields, operational disruptions caused by volcanic activity and other factors affecting the creditworthiness of our airline customers and their ability to continue to perform their obligations under our leases; termination payments on our interest rate hedges; and other risks detailed from time to time in Aircastle Limited's filings with the SEC, including "Risk Factors" as previously disclosed in Aircastle's 2009 Annual Report on Form 10-K, and in our other filings with the SEC, press releases and other communications. In addition, new risks and uncertainties emerge from time to time, and it is not possible for Aircastle to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. Aircastle Limited expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

Aircastle Limited and Subsidiaries
Consolidated Balance Sheets
(Dollars in thousands, except share data)



December 31,
2009

June 30,
2010



(Unaudited)

ASSETS



Cash and cash equivalents                                                     

$      142,666

$    149,696

Accounts receivable                                                           

2,941

3,041

Restricted cash and cash equivalents                                             

207,834

213,105

Restricted liquidity facility collateral                                               

81,000

79,000

Flight equipment held for lease, net of accumulated depreciation of $586,537 and $688,492   

3,812,970

3,742,080

Aircraft purchase deposits and progress payments                                 

141,144

210,297

Leasehold improvements, furnishings and equipment, net of accumulated depreciation of $2,455 and $2,654

802

619

Other assets                                                                 

65,155

66,504

Total assets                                                               

$   4,454,512

$    4,464,342




LIABILITIES AND SHAREHOLDERS' EQUITY



LIABILITIES



Borrowings from securitizations and term debt financings (including borrowings of ACS Ireland VIEs of $331,856 and $322,453, respectively)

$   2,464,560

$ 2,433,308

Accounts payable, accrued expenses and other liabilities                             

60,392

58,542

Dividends payable                                                             

7,955

7,947

Lease rentals received in advance                                               

34,381

31,288

Liquidity facility                                                               

81,000

79,000

Security deposits                                                             

82,533

74,670

Maintenance payments                                                         

253,175

279,235

Fair value of derivative liabilities                                                 

179,279

211,698

Total liabilities                                                              

3,163,275

3,175,688




Commitments and Contingencies






SHAREHOLDERS' EQUITY



Preference shares, $.01 par value, 50,000,000 shares authorized, no shares issued and outstanding

--

--

Common shares, $.01 par value, 250,000,000 shares authorized, 79,550,421 shares issued and outstanding at December 31, 2009; and 79,472,390 shares issued and outstanding at June 30, 2010

796

795

Additional paid-in capital                                                       

1,479,995

1,482,044

Retained earnings                                                             

70,294

91,414

Accumulated other comprehensive loss                                           

(259,848)

(285,599)

Total shareholders' equity                                                    

1,291,237

1,288,654

Total liabilities and shareholders' equity                                         

$     4,454,512

$ 4,464,342




Aircastle Limited and Subsidiaries
Consolidated Statements of Income
(Dollars in thousands, except per share amounts)
(Unaudited)



Three Months Ended
June 30,


Six Months Ended
June 30,


2009


2010


2009


2010

Revenues:








Lease rental revenue                                  

$  129,406


$  128,133


$  255,400


$  258,255

Amortization of net lease discounts and lease incentives      

(2,810)


(4,909)


(3,927)


(9,754)

Maintenance revenue                                  

9,637


6,836


16,240


12,090

   Total lease rentals                                   

136,233


130,060


267,713


260,591

Interest income                                       

594


--


1,227


--

Other revenue                                       

86


124


111


154

 Total revenues                                     

136,913


130,184


269,051


260,745









Expenses:








Depreciation                                         

51,688


54,424


103,249


108,569

Interest, net                                         

41,482


40,166


84,893


81,125

Selling, general and administrative (including non-cash share based payment expense of $1,729 and $1,929 for the three months ended, and $3,387 and $3,711 for the six months ended June 30, 2009 and 2010, respectively)

11,122


11,036


22,217


22,709

Maintenance and other costs                            

4,502


3,437


10,278


5,637

Total expenses                                      

108,794


109,063


220,637


218,040









Other income (expense):








 Loss on sale of aircraft                               

--


(1,291)


--


(1,291)

 Other income (expense)                               

1,501


(176)


1,593


(546)

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