Air Lease Corporation Activity Update for the Third Quarter of 2021

Rhea-AI Summary

Air Lease Corporation (NYSE: AL) provided an update on its aircraft investments, sales, and financing for Q3 2021. As of September 30, 2021, ALC owned 370 aircraft and managed 89, with 320 new aircraft on order for delivery through 2027. During the quarter, ALC delivered 16 new aircraft and invested approximately $800 million in aircraft. No aircraft sales occurred, and the company issued $1.1 billion in senior unsecured medium-term notes while upscaling its revolving credit facility to $6.5 billion.

Positive

• Delivered 16 new aircraft, including 1 Airbus A320neo and 7 Boeing 737-8s.
• Investments totaled approximately $800 million in Q3.
• Issued $1.1 billion in senior unsecured medium-term notes.

Negative

• No aircraft sales occurred in the quarter.

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

As of September 30, 2021, ALC’s fleet was comprised of 370 owned aircraft and 89 managed aircraft, with 320 new aircraft on order from Boeing and Airbus set to deliver through 2027.

Aircraft Investments

• Delivered sixteen new aircraft from ALC’s order book including one Airbus A320neo, six Airbus A321neos, seven Boeing 737-8s, and two Boeing 737-9s
• Aircraft investments in the quarter totaled approximately $800 million, with the majority occurring in the second half of the quarter

Sales

• No aircraft sales occurred during the quarter

Financing

• Issued $1.1 billion of senior unsecured medium-term notes comprised of $600 million of 0.80% senior unsecured medium-term notes due 2024, and $500 million of 2.10% senior unsecured medium-term notes due 2028
• Upsized senior unsecured revolving credit facility to $6.5 billion from $6.4 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/20211008005085/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 report in Q3 2021?

Air Lease Corporation delivered 16 new aircraft, including 1 Airbus A320neo and 7 Boeing 737-8s, with total investments of approximately $800 million.

What was the financial performance of Air Lease Corporation in Q3 2021?

Air Lease Corporation reported no aircraft sales in Q3 2021 and issued $1.1 billion in senior unsecured medium-term notes.

How many aircraft does Air Lease Corporation have on order?

Air Lease Corporation has 320 new aircraft on order from Boeing and Airbus, set for delivery through 2027.

What is the current status of Air Lease Corporation's credit facilities?

Air Lease Corporation upsized its senior unsecured revolving credit facility to $6.5 billion in Q3 2021.

What are the key financial metrics for Air Lease Corporation as of September 30, 2021?

As of September 30, 2021, Air Lease Corporation's fleet consisted of 370 owned aircraft and 89 managed aircraft.