Welcome to our dedicated page for Air Lease Corporation news (Ticker: AL), a resource for investors and traders seeking the latest updates and insights on Air Lease Corporation stock.
Air Lease Corporation (NYSE: AL), established in 2010 and headquartered in Los Angeles, California, is a prominent player in the global aircraft leasing industry. The company focuses on acquiring commercial aircraft from top manufacturers like The Boeing Company and Airbus S.A.S, and subsequently leasing them to a large portfolio of airline partners worldwide. This strategy allows airlines to access the latest aircraft models without incurring the high upfront costs of purchasing them.
ALC’s diversified fleet includes both single-aisle narrow-bodied jets and twin-aisle wide-bodied aircraft, catering to various airline operational needs. The company’s business model centers around long-term lease agreements and generating revenue from the leasing of flight equipment. With operations spanning the Asia Pacific, Europe, the Middle East and Africa, Central America, South America and Mexico, and North America, ALC enjoys a robust global presence.
Recent corporate milestones underscore ALC's dynamic growth and market leadership. In February 2024, the company secured C$400 million through its medium-term notes offering, maturing in 2028, aimed at general corporate purposes including aircraft purchases and debt repayment. Additionally, ALC announced long-term lease agreements with Thai Airways International for three Boeing 787-9 Dreamliners and with Transavia for two Airbus A321-200neo aircraft, enhancing its portfolio and strengthening partnerships with major airlines.
The company’s financial performance remains strong, evidenced by Q1 2024 revenue of $663 million and a fleet expansion to 472 owned aircraft. ALC’s strategic initiatives include a well-placed order book of 320 new aircraft set for delivery through 2028, ensuring sustained growth. The firm maintains a disciplined financial approach with a composite cost of funds at 4.03% and a strategy to keep leverage around 2.5x Debt-to-Equity.
ALC's commitment to excellence is reflected in its strong customer relationships, a young and in-demand fleet, and proactive management of its aircraft investments. The company continues to adapt and thrive amidst industry challenges, demonstrating resilience and foresight in its operations.
KBRA has assigned a K1 short-term debt rating to Air Lease 's (NYSE: AL) up to $2 billion Unsecured Commercial Paper Notes Program. The rating reflects AL's A- issuer rating and Stable Outlook, supported by strong liquidity and funding profiles.
As of Q3 2024, AL maintained $7.5 billion in available liquidity, including $461 million in unrestricted cash, $500 million in unfunded term loan commitments, and $6.5 billion in undrawn revolving credit. The company's liquidity position adequately covers $2.8 billion in 2025 debt obligations and is complemented by $1.7 billion in LTM operating cash flow. Additionally, AL holds $28 billion in unencumbered aircraft assets.
The company maintains a low leverage strategy targeting 2.5x Net Debt-to-Equity (2.6x at Q3 2024). The Stable Outlook reflects AL's resilient performance, strong funding access, and favorable industry dynamics with strong aircraft demand and supply.
Air Lease (NYSE: AL) has announced the establishment of a $2.0 billion commercial paper program. Under this program, the company can issue short-term, unsecured commercial paper notes on a revolving basis. The notes will be sold in the U.S. commercial paper market and will rank at least pari passu with AL's other unsecured and unsubordinated debt.
The program allows AL to borrow, repay, and re-borrow funds, with the total outstanding amount not exceeding $2 billion. The proceeds will be used for general corporate purposes, including aircraft purchases and debt repayment. The notes will be issued under Section 4(a)(2) exemption of the Securities Act of 1933 and will not be registered under the Securities Act.
Air Lease (NYSE: AL) has released its fourth quarter 2024 activity update, highlighting significant fleet movements and financial activities. The company's fleet comprised 489 owned and 60 managed aircraft as of December 31, 2024, with 269 new aircraft on order from Airbus and Boeing scheduled for delivery through 2029.
During Q4 2024, ALC delivered 18 new aircraft from its orderbook, including eight A220s, three A321neos, two A330-900neos, two Boeing 737-8s, and three Boeing 787-10s, with total aircraft investments reaching approximately $1.3 billion. The company also sold 14 aircraft to third-party buyers, generating proceeds of approximately $540 million. Additionally, ALC secured a new $966.5 million unsecured term loan facility maturing in December 2027.
Air Lease (NYSE: AL) has announced its upcoming fourth quarter and year-end 2024 earnings conference call, scheduled for February 13, 2025, at 4:30 PM Eastern Time. Investors can participate via phone by dialing 1 (800) 715-9871 (domestic) or 1 (646) 307-1963 (international) using passcode 7572001.
The call will be broadcast live through the Investors page of Air Lease 's website. A replay will be available until February 20, 2025, accessible by dialing 1 (800) 770-2030 (domestic) or 1 (647) 362-9199 (international).
Air Lease is a Los Angeles-based global aircraft leasing company that purchases new commercial aircraft and leases them to airlines worldwide through customized leasing and financing solutions.
Air Lease (NYSE: AL) has successfully closed a new $966.5 million unsecured term loan facility with maturity in December 2027. The loan proceeds will be used for working capital needs and general corporate purposes. The transaction was coordinated by Sumitomo Mitsui Trust Bank and Oversea-Chinese Banking , with additional participation from Bank of China, Bank of East Asia, and Cathay United Bank as Mandated Lead Arrangers and Bookrunners.
According to CFO Gregory B. Willis, this facility provides a diversified financing source and demonstrates the company's strong banking relationships.
Air Lease (NYSE: AL) announced its financial results for Q3 2024, highlighting a 4.7% increase in revenue to $690.2 million compared to Q3 2023. However, net income dropped by 24.9% to $91.6 million, due to higher operating expenses and interest costs. The company took delivery of 20 aircraft, sold nine, and ended the quarter with a fleet of 485 owned aircraft, valued at $27.9 billion. Air Lease also placed 100% of its committed orderbook on long-term leases through 2025. The company issued $300 million in preferred stock and increased its quarterly cash dividend by 5% to $0.22 per share. Despite revenue growth, net income and EPS saw declines, primarily due to higher expenses.
Air Lease (NYSE: AL) has released its activity update for the third quarter of 2024. The company's fleet now consists of 485 owned aircraft and 64 managed aircraft, with 287 new aircraft on order from Airbus and Boeing scheduled for delivery through 2029. During the quarter, ALC delivered 20 new aircraft from its orderbook, including various models from Airbus and Boeing. The company's aircraft investments totaled approximately $1.9 billion.
ALC also sold nine aircraft to third-party buyers, generating sales proceeds of approximately $340 million. On the financing front, the company issued $300 million of 6.00% fixed-rate reset non-cumulative perpetual preferred stock, Series D.
Air Lease (NYSE: AL) has announced its upcoming third quarter 2024 earnings conference call, scheduled for November 7, 2024, at 4:30 PM Eastern Time. Investors can participate by dialing 1 (888) 660-6652 (domestic) or 1 (646) 960-0554 (international) with passcode 5952437. The call will also be broadcast live on the company's website.
A replay of the call will be available from November 7, 2024, until 11:59 PM ET on November 14, 2024. To access the replay, dial 1 (800) 770-2030 (domestic) or 1 (647) 362-9199 (international) with passcode 5952437.
Air Lease , based in Los Angeles, is a leading global aircraft leasing company serving airline customers worldwide through customized aircraft leasing and financing solutions.
Air Lease (NYSE: AL) has delivered the first of six new Airbus A220-300 aircraft to TAAG Angola Airlines, Angola's national carrier. This marks the introduction of the A220 to TAAG's fleet and is part of the airline's long-term fleet modernization program. Steven F. Udvar-Házy, Executive Chairman of Air Lease , expressed pleasure in being the first lessor to introduce the A220 to TAAG.
TAAG's CEO, Nelson de Oliveira, stated that adding the A220-300 demonstrates the airline's ambition for modernization and growth. The aircraft will be operated by an Angolan crew, with multiple teams benefiting from comprehensive training programs. This addition aligns with TAAG's expansion plan, which includes new routes and increased frequencies to address market demand.
Air Lease (NYSE: AL) has announced the pricing of its public offering of 300,000 shares of 6.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series D, with a liquidation preference of $1,000.00 per share. The sale is expected to close on September 24, 2024. Dividends will accrue at 6.00% from September 24, 2024 to December 15, 2029, and thereafter at the Five-year U.S. Treasury Rate plus 2.56%, with a minimum rate of 6.00%. The company plans to use the proceeds to redeem its outstanding 6.15% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, and for general corporate purposes, including aircraft purchases and debt repayment.
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