Exhibit 21.1

Subsidiaries of Aircastle Limited

As of December 31, 2018

	Name of Subsidiary	Jurisdiction
1	ACS 2007-1 Limited	Bermuda
2	ACS 2008-1 Limited	Bermuda
3	ACS 2016 Funding (Bermuda) Limited	Bermuda
4	ACS 2016 Funding (Ireland) Limited	Ireland
5	ACS Aircraft Finance Bermuda Limited	Bermuda
6	ACS Aircraft Finance Ireland 2 Limited	Ireland
7	ACS Aircraft Finance Ireland 3 Limited	Ireland
8	AHCL Two Limited	Bermuda
9	AYR Bermuda Limited	Bermuda
10	AYR Delaware LLC	Delaware
11	AYR Freighter LLC	Delaware
12	AYR Ireland Holdco Limited	Ireland
13	Aircastle Advisor Asia Pacific Limited	Bermuda
14	Aircastle Advisor (International) Limited	Bermuda
15	Aircastle Advisor (Ireland) Limited	Ireland
16	Aircastle Aviation US LLC	Delaware
17	Aircastle Advisor LLC	Delaware
18	Aircastle Bermuda Securities Limited	Bermuda
19	Aircastle Funding (Ireland) Designated Activity Company	Ireland
20	Aircastle Holding Corporation Limited	Bermuda
21	Aircastle Investment Holdings 2 Limited	Bermuda
22	Aircastle Investment Holdings 3 Limited	Bermuda
23	Aircastle Singapore Pte. Limited	Singapore
24	Aircraft MSN 313 LLC	Delaware
25	Aircraft MSN 997 LLC	Delaware
26	Aircraft MSN 1006 LLC	Delaware
27	Aircraft MSN 1012 LLC	Delaware
28	Aircraft MSN 1055 LLC	Delaware
29	Aircraft MSN 1132 LLC	Delaware
30	Aircraft MSN 1162 LLC	Delaware
31	Aircraft MSN 1177 LLC	Delaware
32	Aircraft MSN 1179 LLC	Delaware
33	Aircraft MSN 1244 LLC	Delaware
34	Aircraft MSN 1258 LLC	Delaware
35	Aircraft MSN 1259 LLC	Delaware
36	Aircraft MSN 1261 LLC	Delaware
37	Aircraft MSN 1279 LLC	Delaware
38	Aircraft MSN 1295 LLC	Delaware
39	Aircraft MSN 1308 LLC	Delaware
40	Aircraft MSN 1322 LLC	Delaware
41	Aircraft MSN 1329 LLC	Delaware
42	Aircraft MSN 1364 LLC	Delaware
43	Aircraft MSN 1411 LLC	Delaware
44	Aircraft MSN 1572 LLC	Delaware
45	Aircraft MSN 1481 LLC	Delaware

	Name of Subsidiary	Jurisdiction
46	Aircraft MSN 1655 LLC	Delaware
47	Aircraft MSN 1674 LLC	Delaware
48	Aircraft MSN 1673 LLC	Delaware
49	Aircraft MSN 1742 LLC	Delaware
50	Aircraft MSN 1780 LLC	Delaware
51	Aircraft MSN 1836 LLC	Delaware
52	Aircraft MSN 1989 LLC	Delaware
53	Aircraft MSN 1913 LLC	Delaware
54	Aircraft MSN 2002 LLC	Delaware
55	Aircraft MSN 2004 LLC	Delaware
56	Aircraft MSN 2098 LLC	Delaware
57	Aircraft MSN 2104 LLC	Delaware
58	Aircraft MSN 2220 LLC	Delaware
59	Aircraft MSN 2248 LLC	Delaware
60	Aircraft MSN 2254 LLC	Delaware
61	Aircraft MSN 2310 LLC	Delaware
62	Aircraft MSN 2357 LLC	Delaware
63	Aircraft MSN 2381 LLC	Delaware
64	Aircraft MSN 2391 LLC	Delaware
65	Aircraft MSN 2401 LLC	Delaware
66	Aircraft MSN 2472 LLC	Delaware
67	Aircraft MSN 2488 LLC	Delaware
68	Aircraft MSN 2495 LLC	Delaware
69	Aircraft MSN 2563 LLC	Delaware
70	Aircraft MSN 2565 LLC	Delaware
71	Aircraft MSN 2578 LLC	Delaware
72	Aircraft MSN 2605 LLC	Delaware
73	Aircraft MSN 2636 LLC	Delaware
74	Aircraft MSN 2646 LLC	Delaware
75	Aircraft MSN 2677 LLC	Delaware
76	Aircraft MSN 2691 LLC	Delaware
77	Aircraft MSN 2715 LLC	Delaware
78	Aircraft MSN 2742 LLC	Delaware
79	Aircraft MSN 2744 LLC	Delaware
80	Aircraft MSN 2754 LLC	Delaware
81	Aircraft MSN 2756 LLC	Delaware
82	Aircraft MSN 2765 LLC	Delaware
83	Aircraft MSN 2769 LLC	Delaware
84	Aircraft MSN 2777 LLC	Delaware
85	Aircraft MSN 2779 LLC	Delaware
86	Aircraft MSN 2782 LLC	Delaware
87	Aircraft MSN 2792 LLC	Delaware
88	Aircraft MSN 2795 LLC	Delaware
89	Aircraft MSN 2803 LLC	Delaware
90	Aircraft MSN 2818 LLC	Delaware
91	Aircraft MSN 2822 LLC	Delaware
92	Aircraft MSN 2956 LLC	Delaware
93	Aircraft MSN 3045 LLC	Delaware
94	Aircraft MSN 3157 LLC	Delaware

	Name of Subsidiary	Jurisdiction
95	Aircraft MSN 3209 LLC	Delaware
96	Aircraft MSN 3277 LLC	Delaware
97	Aircraft MSN 3278 LLC	Delaware
98	Aircraft MSN 3338 LLC	Delaware
99	Aircraft MSN 3421 LLC	Delaware
100	Aircraft MSN 3443 LLC	Delaware
101	Aircraft MSN 3450 LLC	Delaware
102	Aircraft MSN 3524 LLC	Delaware
103	Aircraft MSN 3543 LLC	Delaware
104	Aircraft MSN 3637 LLC	Delaware
105	Aircraft MSN 3667 LLC	Delaware
106	Aircraft MSN 3673 LLC	Delaware
107	Aircraft MSN 3690 LLC	Delaware
108	Aircraft MSN 3762 LLC	Delaware
109	Aircraft MSN 3911 LLC	Delaware
110	Aircraft MSN 4070 LLC	Delaware
111	Aircraft MSN 4077 LLC	Delaware
112	Aircraft MSN 4088 LLC	Delaware
113	Aircraft MSN 4968 LLC	Delaware
114	Aircraft MSN 5010 LLC	Delaware
115	Aircraft MSN 5127 LLC	Delaware
116	Aircraft MSN 5598 LLC	Delaware
117	Aircraft MSN 5796 LLC	Delaware
118	Aircraft MSN 6077 LLC	Delaware
119	Aircraft MSN 6201 LLC	Delaware
120	Aircraft MSN 6253 LLC	Delaware
121	Aircraft MSN 7160 LLC	Delaware
122	Aircraft MSN 7316 LLC	Delaware
123	Aircraft MSN 7791 LLC	Delaware
124	Aircraft MSN 25702-2 LLC	Delaware
125	Aircraft MSN 27137 LLC	Delaware
126	Aircraft MSN 28231 LLC	Delaware
127	Aircraft MSN 28623 LLC	Delaware
128	Aircraft MSN 29345 LLC	Delaware
129	Aircraft MSN 29346 LLC	Delaware
130	Aircraft MSN 29347 LLC	Delaware
131	Aircraft MSN 29356 LLC	Delaware
132	Aircraft MSN 29918 LLC	Delaware
133	Aircraft MSN 29920 LLC	Delaware
134	Aircraft MSN 30295 LLC	Delaware
135	Aircraft MSN 30652 LLC	Delaware
136	Aircraft MSN 30673 LLC	Delaware
137	Aircraft MSN 30687 LLC	Delaware
138	Aircraft MSN 30695 LLC	Delaware
139	Aircraft MSN 30702 LLC	Delaware
140	Aircraft MSN 30710 LLC	Delaware
141	Aircraft MSN 30877 LLC	Delaware
142	Aircraft MSN 32457 LLC	Delaware
143	Aircraft MSN 32704 LLC	Delaware

	Name of Subsidiary	Jurisdiction
144	Aircraft MSN 32705 LLC	Delaware
145	Aircraft MSN 33030 LLC	Delaware
146	Aircraft MSN 33212 LLC	Delaware
147	Aircraft MSN 34690 LLC	Delaware
148	Aircraft MSN 35022 LLC	Delaware
149	Aircraft MSN 35082 LLC	Delaware
150	Aircraft MSN 35093 LLC	Delaware
151	Aircraft MSN 35134 LLC	Delaware
152	Aircraft MSN 35233 LLC	Delaware
153	Aircraft MSN 35235 LLC	Delaware
154	Aircraft MSN 35236 LLC	Delaware
155	Aircraft MSN 35237 LLC	Delaware
156	Aircraft MSN 35256 LLC	Delaware
157	Aircraft MSN 35299 LLC	Delaware
158	Aircraft MSN 35679 LLC	Delaware
159	Aircraft MSN 35680 LLC	Delaware
160	Aircraft MSN 36826 LLC	Delaware
161	Aircraft MSN 36829 LLC	Delaware
162	Aircraft MSN 36808 LLC	Delaware
163	Aircraft MSN 36821 LLC	Delaware
164	Aircraft MSN 37294 LLC	Delaware
165	Aircraft MSN 37742 LLC	Delaware
166	Aircraft MSN 37887 LLC	Delaware
167	Aircraft MSN 38019 LLC	Delaware
168	Aircraft MSN 38494 LLC	Delaware
169	Aircraft MSN 38683 LLC	Delaware
170	Aircraft MSN 38686 LLC	Delaware
171	Aircraft MSN 40713 LLC	Delaware
172	Aircraft MSN 41522 LLC	Delaware
173	Aircraft MSN 19000484 LLC	Delaware
174	Aircraft MSN 19000575 LLC	Delaware
175	Aircraft MSN 19000588 LLC	Delaware
176	Aircraft MSN 19000609	Delaware
177	Aircraft MSN 19000628	Delaware
178	ALC B377 33103, LLC	Delaware
179	ALC B378 33104, LLC	Delaware
180	ALC B378 34242, LLC	Delaware
181	Anfield Funding Limited	Bermuda
182	Brisbane Aircraft Leasing (UK) Limited	United Kingdom
183	Constellation Aircraft Leasing (France) SARL	France
184	Constitution Aircraft Leasing (Ireland) 3 Limited	Ireland
185	Constitution Aircraft Leasing (Ireland) 4 Limited	Ireland
186	Constitution Aircraft Leasing (Ireland) 5 Limited	Ireland
187	Constitution Aircraft Leasing (Ireland) 9 Limited	Ireland
188	Constitution Aircraft Leasing (Ireland) 10 Limited	Ireland
189	Constitution Aircraft Leasing (Ireland) 1086 Limited	Ireland
190	Delphie Aircraft Leasing Limited	Bermuda
191	Dolphin Leasing (Ireland) Limited	Ireland
192	Dunvegan Aircraft Leasing (Ireland) Limited	Ireland

	Name of Subsidiary	Jurisdiction
193	Endeavor Aircraft Leasing (Sweden) AB	Sweden
194	Endeavor Aircraft Leasing (Sweden) 2 AB	Sweden
195	Endeavor Aircraft Leasing (Sweden) 3 AB	Sweden
196	Enterprise Aircraft Leasing (France) SARL	France
197	Gold Coast Aircraft Leasing (France) Sarl	France
198	Grayston Aircraft Leasing Limited	Cayman Islands
199	Haneda Aircraft Leasing (Norway) AS	Norway
200	Intrepid Aircraft Leasing (France) SARL	France
201	Jakarta Aircraft Leasing (Ireland) Limited	Ireland
202	Java Aircraft Leasing (France) SARL	France
203	Kale Aircraft Leasing (Ireland) Limited	Ireland
204	Klaatu Aircraft Leasing (Ireland) Limited	Ireland
205	Koala Aircraft Leasing (Ireland) Limited	Ireland
206	Macleod Aircraft Leasing (Labuan) Limited	Labuan
207	Macstay Aircraft Leasing Limited	Bermuda
208	Marrow Aircraft Leasing (Ireland) Limited	Ireland
209	Medan Aircraft Leasing (Ireland) Limited	Ireland
210	Melbourne Aircraft Leasing (UK) Limited	United Kingdom
211	Merdeka Aircraft Leasing (Labuan) Limited	Labuan
212	Momo Aircraft Leasing Limited	Bermuda
213	Orchard Aviation (41521) Pte. Ltd.	Singapore
214	Orchard Aviation (A330) Pte. Ltd.	Singapore
215	Orchard Aviation 41522 (UK) Limited	United Kingdom
216	Penguin Leasing (Ireland) Limited	Ireland
217	Perdana Aircraft Leasing (Labuan) Limited	Labuan
218	Platypus Aircraft Leasing (Ireland) Limited	Ireland
219	Salmon Aircraft Leasing (Ireland) Limited	Ireland
220	Sulaco Aircraft Leasing (Ireland) Limited	Ireland
221	Sumatra Aircraft Leasing (France) Sarl	France
222	Tempelhof Aircraft Leasing (Ireland) Limited	Ireland
223	Thunderbird 1 Leasing Limited	Mauritius
224	Thunderbird 2 Leasing Limited	Mauritius
225	Thunderbird 3 Leasing Limited	Mauritius
226	Thunderbird 4 Leasing Limited	Mauritius
227	Trojan Aircraft Leasing (France) SARL	France
228	Zebra Aircraft Leasing Limited	Cayman Islands
229	Zephyr Aircraft Leasing B.V.	The Netherlands