Air Lease Corporation Activity Update for the Fourth Quarter of 2022

Rhea-AI Summary

Air Lease Corporation (NYSE: AL) reported substantial activity in aircraft investments, sales, and financing during Q4 2022. By December 31, 2022, ALC's fleet consisted of 417 owned and 85 managed aircraft, with 398 new orders from Boeing and Airbus scheduled for delivery by 2028. Key highlights include the delivery of 16 new aircraft valued at approximately $1 billion, recovery of a Boeing 737-8 from Russia, and issuance of $700 million in senior unsecured notes, along with a $400 million unsecured term loan.

Positive

• Delivered 16 new aircraft, enhancing fleet value.
• Investments in aircraft totaled approximately $1 billion, indicating robust growth.
• Recovered a detained Boeing 737-8 aircraft, enhancing operational assets.
• Issued $700 million of senior unsecured notes, strengthening financial position.
• Closed a $400 million unsecured term loan facility, providing additional liquidity.

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 fourth quarter of 2022.

As of December 31, 2022, ALC’s fleet was comprised of 417 owned aircraft and 85 managed aircraft, with 398 new aircraft on order from Boeing and Airbus set to deliver through 2028.

Aircraft Investments
-		Delivered 16 new aircraft from ALC’s order book including two Airbus A220-300s, five A321neos, two Airbus A330-900neos, three Boeing 737-8s, three Boeing 737-9s, and one Boeing 787-9.
-		Aircraft investments in the quarter totaled approximately $1 billion.
-		Recovered one Boeing 737-8 aircraft previously detained in Russia.
Sales
-		Sold five aircraft to third-party buyers.
Financing
-		Issued $700 million of 5.85% senior unsecured medium-term notes due 2027.
-		Closed a $400 million unsecured term loan facility with final maturity in 2027.

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. Some or all of the results anticipated by these forward-looking statements are unknown at this time, including the ultimate impact of the COVID-19 pandemic on our results, prospects and opportunities. 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/20230111005294/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 was Air Lease Corporation's aircraft investments total for Q4 2022?

Air Lease Corporation's aircraft investments totaled approximately $1 billion in Q4 2022.

How many new aircraft did Air Lease Corporation deliver in Q4 2022?

Air Lease Corporation delivered 16 new aircraft in Q4 2022.

What financing activities did Air Lease Corporation complete in Q4 2022?

In Q4 2022, Air Lease Corporation issued $700 million in senior unsecured notes and closed a $400 million unsecured term loan.

What specific aircraft were delivered by Air Lease Corporation in Q4 2022?

The delivered aircraft included two Airbus A220-300s, five A321neos, two Airbus A330-900neos, three Boeing 737-8s, three Boeing 737-9s, and one Boeing 787-9.

Did Air Lease Corporation recover any aircraft from Russia?

Yes, Air Lease Corporation recovered one Boeing 737-8 aircraft that was previously detained in Russia.