Air Lease Corporation Activity Update for the Third Quarter of 2020
Air Lease Corporation (NYSE: AL) announced key updates as of September 30, 2020. The company operates a fleet of 308 owned and 81 managed aircraft, with a total of 377 new aircraft on order from Boeing and Airbus for delivery through 2026.
During the third quarter, ALC delivered seven new aircraft and invested approximately $0.6 billion in aircraft. The company issued $700 million in senior unsecured medium-term notes due 2026 at a fixed rate of 2.875% and maintained $7 billion in liquidity.
- Delivered seven new aircraft, expanding operational capacity.
- Invested approximately $0.6 billion in aircraft, indicating growth strategy.
- Issued $700 million in senior unsecured notes at a favorable fixed rate.
- Maintained $7 billion in liquidity, supporting financial stability.
- None.
LOS ANGELES--(BUSINESS WIRE)--Today Air Lease Corporation (NYSE: AL) announced an update on order book deliveries, sales and new significant financing occurring in the third quarter of 2020.
As of September 30, 2020, ALC’s fleet was comprised of 308 owned aircraft and 81 managed aircraft, with 377 new aircraft on order from Boeing and Airbus set to deliver through 2026.
Order Book Deliveries
- Delivered seven new aircraft from ALC’s order book including one Airbus A320neo, four A321neos, one A350-900 and one A350-1000
-
Aircraft investments in the quarter totaled approximately
$0.6 billion
Sales
- Sold one aircraft to Thunderbolt Aircraft Lease Limited III which marks the final aircraft sale to this entity
Financing
-
Issued
$700 million of senior unsecured medium-term notes due 2026 at a fixed rate of2.875% -
Ended quarter with
$7 billion in liquidity comprised of unrestricted cash and available revolver capacity
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.
