Air Lease Corporation Activity Update for the Third Quarter of 2023

Rhea-AI Summary

Air Lease Corporation provides an update on aircraft investments and sales activities in Q3 2023.

Positive

• ALC's fleet consists of 448 owned aircraft and 79 managed aircraft. They have 351 new aircraft on order from Boeing and Airbus. ALC delivered 8 new aircraft in the quarter, totaling approximately $450 million in investments. They also sold 8 aircraft to third-party buyers, generating approximately $350 million in sales proceeds.

Negative

• None.

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

As of September 30, 2023, ALC’s fleet was comprised of 448 owned aircraft and 79 managed aircraft, with 351 new aircraft on order from Boeing and Airbus set to deliver through 2029.

Aircraft Investments

• Delivered eight new aircraft from ALC’s order book including two Airbus A220-300s, two Airbus A321neos, one Airbus A330-900neo, two Boeing 737-8s, and one Boeing 737-9.
• Aircraft investments in the quarter totaled approximately $450 million.

Sales

• Sold eight aircraft to third-party buyers.
• Aircraft sales proceeds for the quarter totaled approximately $350 million.

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/20231010535666/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 size of Air Lease Corporation's fleet?

ALC's fleet consists of 448 owned aircraft and 79 managed aircraft.

How many new aircraft does ALC have on order?

ALC has 351 new aircraft on order from Boeing and Airbus.

How many aircraft did ALC deliver in Q3 2023?

ALC delivered 8 new aircraft in the quarter.

What was the total investment in aircraft in the quarter?

The total investment in aircraft in the quarter was approximately $450 million.

How many aircraft did ALC sell in the quarter?

ALC sold 8 aircraft to third-party buyers.

What were the sales proceeds from aircraft sales in the quarter?

The sales proceeds from aircraft sales in the quarter totaled approximately $350 million.