Air Lease Corporation Activity Update for the Fourth Quarter of 2021

Rhea-AI Summary

Air Lease Corporation (NYSE: AL) provided an update on aircraft investments, sales, and financing for Q4 2021. By December 31, 2021, ALC's fleet included 382 owned and 92 managed aircraft, with 416 new orders from Boeing and Airbus due through 2028. In Q4, ALC delivered 15 new aircraft, totaling investments of approximately $1.2 billion. The company sold three aircraft and raised $300 million through preferred stock issuance. Additionally, it increased its revolving credit facility to $6.8 billion.

Positive

• Delivered 15 new aircraft including models from Airbus and Boeing.
• Invested approximately $1.2 billion in aircraft in Q4.
• Increased revolving credit facility to $6.8 billion.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Today Air Lease Corporation (NYSE: AL) announced an update on aircraft investments, sales, and new significant financing occurring in the fourth quarter of 2021.

As of December 31, 2021, ALC’s fleet was comprised of 382 owned aircraft and 92 managed aircraft, with 416 new aircraft on order from Boeing and Airbus set to deliver through 2028.

Aircraft Investments

• Delivered fifteen new aircraft from ALC’s order book including seven Airbus A321neos, three Airbus A350-1000s, one Boeing 737-8, and four Boeing 737-9s
• Aircraft investments in the quarter totaled approximately $1.2 billion, with the majority occurring in the second half of the quarter

Sales

• Sold three aircraft to third-party buyers

Financing

• Issued $300 million of 4.125% fixed-rate reset non-cumulative perpetual series C preferred stock
• Upsized senior unsecured revolving credit facility to $6.8 billion from $6.5 billion

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)

ALC is a leading 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 commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. ALC routinely posts information that may be important to investors in the “Investors” section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. 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/20220110005371/en/

Investors:

Mary Liz DePalma

Vice President, Investor Relations

Email: investors@airleasecorp.com

Jason Arnold

Assistant Vice President, Finance

Email: investors@airleasecorp.com

Media:

Laura Woeste

Senior Manager, Media and Investor Relations

Email: press@airleasecorp.com

Ashley Arnold

Manager, Media and Investor Relations

Email: press@airleasecorp.com

Source: Air Lease Corporation

FAQ

What aircraft investments did Air Lease Corporation make in Q4 2021?

In Q4 2021, Air Lease Corporation delivered 15 new aircraft, including seven Airbus A321neos, three Airbus A350-1000s, one Boeing 737-8, and four Boeing 737-9s.

How much did Air Lease Corporation invest in aircraft in Q4 2021?

Air Lease Corporation's aircraft investments in Q4 2021 totaled approximately $1.2 billion.

What financing did Air Lease Corporation announce in its latest press release?

Air Lease Corporation issued $300 million of 4.125% fixed-rate reset non-cumulative perpetual series C preferred stock and upsized its revolving credit facility to $6.8 billion.

What is the total number of aircraft in Air Lease Corporation's fleet as of December 31, 2021?

As of December 31, 2021, Air Lease Corporation's fleet comprised 382 owned aircraft and 92 managed aircraft.

What future aircraft deliveries does Air Lease Corporation have planned?

Air Lease Corporation has 416 new aircraft on order from Boeing and Airbus, scheduled for delivery through 2028.