Air Lease Corporation Activity Update for the First Quarter of 2023

Rhea-AI Summary

Air Lease Corporation (NYSE: AL) reported significant activities in aircraft investments, sales, and financing for Q1 2023. As of March 31, 2023, the fleet included 437 owned and 86 managed aircraft, with 376 new planes on order from Boeing and Airbus for delivery through 2029. The company delivered 22 new aircraft, totaling about $1.4 billion in investments this quarter. ALC sold two aircraft to third parties and secured $700 million through senior unsecured notes, along with completing a $600 million sukuk offering. ALC aims to leverage these activities for growth while managing the associated market risks.

Positive

• Delivered 22 new aircraft, enhancing the fleet's capabilities.
• Aircraft investments totaled approximately $1.4 billion, indicating a strong growth trajectory.
• Issued $700 million of senior unsecured notes, providing additional liquidity for expansion.
• Completed a $600 million sukuk offering which diversifies financing options.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Today Air Lease Corporation (NYSE: AL) announced an update on aircraft investments, sales, and significant financing activities occurring in the first quarter of 2023.

As of March 31, 2023, ALC’s fleet was comprised of 437 owned aircraft and 86 managed aircraft, with 376 new aircraft on order from Boeing and Airbus set to deliver through 2029.

Aircraft Investments
-		Delivered 22 new aircraft from ALC’s order book including six Airbus A321neos, two Airbus A330-900neos, one Airbus A350-900, five Boeing 737-8s, and eight Boeing 737-9s.
-		Aircraft investments in the quarter totaled approximately $1.4 billion.
Sales
-		Sold two aircraft to third-party buyers.
Financing
-		Issued $700 million of 5.30% senior unsecured medium-term notes due 2028.
-		Completed inaugural US$600 million sukuk offering, consisting of 5.85% trust certificates due 2028.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

About Air Lease Corporation (NYSE: AL)

Air Lease Corporation is a leading global aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. The company routinely posts information that may be important to investors in the “Investors” section of its website at www.airleasecorp.com. Investors and potential investors are encouraged to consult Air Lease Corporation’s website regularly for important information. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230405005808/en/

Investors:

Jason Arnold

Vice President, Investor Relations

Email: investors@airleasecorp.com

Media:

Laura Woeste

Senior Manager, Media and Investor Relations

Email: press@airleasecorp.com

Ashley Arnold

Senior Manager, Media and Investor Relations

Email: press@airleasecorp.com

Source: Air Lease Corporation

FAQ

What aircraft investments did Air Lease Corporation announce for Q1 2023?

Air Lease Corporation reported $1.4 billion in aircraft investments, including the delivery of 22 new aircraft.

What financing activities did Air Lease Corporation complete in March 2023?

ALC issued $700 million in senior unsecured notes and completed a $600 million sukuk offering.

How many aircraft does Air Lease Corporation currently have in its fleet?

As of March 31, 2023, ALC had 437 owned aircraft and 86 managed aircraft.

What orders does Air Lease Corporation have from Boeing and Airbus?

ALC has 376 new aircraft on order from Boeing and Airbus scheduled for delivery through 2029.