Earnings before interest, tax, depreciation and amortisation (EBITDA) in 2019's second quarter were nearly $2 billion, but that figure plummeted to a loss of almost $356 million in the second quarter this year. Aircastle reported a net loss of over $1.9 billion in the quarter ended 30 June, compared with a profit of over $31 million in the same quarter in 2019. The company says the loss in the most recent quarter was due to net non-cash aircraft impairment charges of $197.9 million on 16 aircraft, after partially offsetting maintenance and other revenue of $82.2 million. "The transactional impairments were mostly driven by certain customers filing for protection status and bankruptcy," it says. Chief executive Mike Inglese says: "The current impact of the pandemic on the aviation sector has been severe and the industry may take several years to recover.