AYR — what changed in the latest 10-Q
A section-by-section comparison of AYR's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-09 vs the prior 10-Q · 2026-01-13
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +36 | −57 | ~29 | 23 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | No paragraph-level changes | 0 | 0 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-09
Ongoing armed conflicts and heightened geopolitical tensions in the Middle East continue to create uncertainty regarding regional stability. Military actions, retaliatory measures, and related geopolitical developments have disrupted, and may continue to disrupt, commercial aviation and broader econ…
On June 17, 2026, the United States and Iran signed a memorandum of understanding establishing a framework for a 60-day period during which the parties intend to negotiate a final comprehensive peace agreement. Subsequent military and retaliatory actions in the region have highlighted the fragility …
As of and for the three months ended May 31, 2026, our airline customers located in the Middle East represented approximately 5% of both our Net Book Value and lease rental revenue. Although our exposure to the region is limited and diversified across lessees and aircraft types, a sustained deterior…
During the three months ended May 31, 2026, we purchased 4 aircraft for $116.9 million. As of May 31, 2026, we had commitments to purchase 19 aircraft for $897.8 million, with delivery through November 2028, which included estimated amounts for pre-delivery deposits, contractual price escalations an…
During the three months ended May 31, 2026, we sold 5 aircraft and other flight equipment for net proceeds of $113.9 million and recognized gains on the sale or disposition of flight equipment totaling $10.9 million. As of July 2, 2026, we have sold 4 additional aircraft.
Text removed vs the prior filing · source: 10-Q · 2026-01-13
During the nine months ended November 30, 2025, we purchased 32 aircraft for $1.3 billion. As of November 30, 2025, we had commitments to purchase 24 aircraft for $1.0 billion, with delivery through November 2028, which included estimated amounts for pre-delivery deposits, contractual price escalati…
During the nine months ended November 30, 2025, we sold 20 aircraft and other flight equipment for net proceeds of $368.8 million and recognized gains on the sale or disposition of flight equipment totaling $59.6 million. As of January 1, 2026, we have sold 3 additional aircraft.
As of January 1, 2026, we had 5 off-lease aircraft and 2 aircraft with a lease expiring in fiscal year 2025, which combined account for less than 3% of our Net Book Value at November 30, 2025, remaining to be placed or sold. We expect to sell or part out 2 of these aircraft.
Fiscal Years 2026 to 2029 Lease Expirations and Lease Placements
Taking into account lease and sale commitments, we currently have the following number of aircraft with lease expirations scheduled in the fiscal years 2026 to 2029, representing the percentage of our Net Book Value as of November 30, 2025, specified below:
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice