Air Lease Corporation Activity Update for the Second Quarter of 2023

Rhea-AI Summary

Air Lease Corporation provides an update on its aircraft investments, sales activities, and financing in Q2 2023. The company delivered 19 new aircraft, sold 8 aircraft, and entered into $900 million of financing transactions during the quarter.

Positive

• Air Lease Corporation delivered 19 new aircraft, including Airbus A220-300s, Airbus A320neos, Airbus A321neos, Airbus A330-900neos, Airbus A350-900s, Airbus A350-1000s, Boeing 737-9s, and Boeing 787-9s. The aircraft investments in the quarter totaled approximately $1.5 billion. The company also entered into approximately $900 million of financing transactions during the quarter.

Negative

• None.

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

As of June 30, 2023, ALC’s fleet was comprised of 448 owned aircraft and 80 managed aircraft, with 359 new aircraft on order from Boeing and Airbus set to deliver through 2029.

Aircraft Investments

• Delivered 19 new aircraft from ALC’s order book including three Airbus A220-300s, two Airbus A320neos, seven Airbus A321neos, two Airbus A330-900neos, one Airbus A350-900, one Airbus A350-1000, two Boeing 737-9s, and one Boeing 787-9.
• Aircraft investments in the quarter totaled approximately $1.5 billion.

Sales

• Sold eight aircraft to third-party buyers.
• Aircraft sales for the quarter totaled approximately $600 million.

Financing

• Entered into approximately $900 million of financing transactions during the quarter.

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/20230710661231/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 is the update provided by Air Lease Corporation in Q2 2023?

Air Lease Corporation provided an update on its aircraft investments, sales activities, and financing in Q2 2023.

How many new aircraft did Air Lease Corporation deliver in the quarter?

Air Lease Corporation delivered 19 new aircraft in the quarter.

What was the total value of aircraft investments in the quarter?

The aircraft investments in the quarter totaled approximately $1.5 billion.

How much financing transactions did Air Lease Corporation enter into during the quarter?

Air Lease Corporation entered into approximately $900 million of financing transactions during the quarter.