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Air Lease Corporation (NYSE: AL), established in 2010 and headquartered in Los Angeles, California, is a prominent player in the global aircraft leasing industry. The company focuses on acquiring commercial aircraft from top manufacturers like The Boeing Company and Airbus S.A.S, and subsequently leasing them to a large portfolio of airline partners worldwide. This strategy allows airlines to access the latest aircraft models without incurring the high upfront costs of purchasing them.
ALC’s diversified fleet includes both single-aisle narrow-bodied jets and twin-aisle wide-bodied aircraft, catering to various airline operational needs. The company’s business model centers around long-term lease agreements and generating revenue from the leasing of flight equipment. With operations spanning the Asia Pacific, Europe, the Middle East and Africa, Central America, South America and Mexico, and North America, ALC enjoys a robust global presence.
Recent corporate milestones underscore ALC's dynamic growth and market leadership. In February 2024, the company secured C$400 million through its medium-term notes offering, maturing in 2028, aimed at general corporate purposes including aircraft purchases and debt repayment. Additionally, ALC announced long-term lease agreements with Thai Airways International for three Boeing 787-9 Dreamliners and with Transavia for two Airbus A321-200neo aircraft, enhancing its portfolio and strengthening partnerships with major airlines.
The company’s financial performance remains strong, evidenced by Q1 2024 revenue of $663 million and a fleet expansion to 472 owned aircraft. ALC’s strategic initiatives include a well-placed order book of 320 new aircraft set for delivery through 2028, ensuring sustained growth. The firm maintains a disciplined financial approach with a composite cost of funds at 4.03% and a strategy to keep leverage around 2.5x Debt-to-Equity.
ALC's commitment to excellence is reflected in its strong customer relationships, a young and in-demand fleet, and proactive management of its aircraft investments. The company continues to adapt and thrive amidst industry challenges, demonstrating resilience and foresight in its operations.
Air Lease Corporation (NYSE: AL) has announced the long-term lease of 15 new Airbus A321XLR aircraft to Air Canada, with deliveries scheduled for 2024 and 2025. This agreement aims to enhance Air Canada's network expansion and aligns with its sustainability goals, including cost reduction and emissions management. Air Lease's CEO, John L. Plueger, emphasized the significance of this partnership, while Air Canada's CFO, Amos Kazzaz, highlighted its importance for maintaining competitive advantage and fulfilling ESG objectives.
Air Lease Corporation (NYSE: AL) announced its participation in the J.P. Morgan Industrials Conference 2022 on March 16, 2022, at 10:30 a.m. Eastern Time. Executives including Steven F. Udvar-Házy, John L. Plueger, and Gregory B. Willis will speak during the event. Attendees can access the live broadcast through the Air Lease Corporation website or via a provided link. ALC is a leading aircraft leasing company based in Los Angeles, offering customized leasing solutions to airline customers worldwide.
Air Lease Corporation (NYSE: AL) announced long-term lease agreements for nine new Boeing 737 aircraft with Corendon Airlines Group. The deal entails the delivery of five 737-8 aircraft in Spring 2022 and one in Q1 2023, alongside three 737-9 aircraft scheduled for the first half of 2023. These modern aircraft are intended to enhance Corendon's fleet operations and passenger experience. Executive Chairman Steven F. Udvar-Házy highlighted ALC's significant role in supporting Corendon's operations across multiple countries.
Air Lease Corporation (AL) reported strong fourth quarter and full-year 2021 results, driven by a recovery in the airline industry. Revenues rose 22.1% in Q4 to $597 million and 3.6% for the year to $2.1 billion. Despite increased revenues, net income declined by 18.6% to $408 million due to lease restructurings and cash basis accounting impacts. The company announced a historic aircraft order with Airbus for 116 planes and planned to repurchase $150 million of common shares. Lease utilization reached 99.8%, reflecting strong demand.
Air Lease Corporation (NYSE: AL) announced a significant long-term lease of 25 new Boeing 737-8 aircraft to Malaysia Aviation Group (MAG), starting delivery in early 2023 through 2026. This partnership aims to enhance Malaysia Airlines' operational efficiencies and support their Long-Term Business Plan 2.0, which emphasizes sustainability and improved fleet performance, including fuel efficiency improvements of up to 15%. Malaysia Airlines currently leases six Airbus A350-900 aircraft from ALC.
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.
Air Lease Corporation (NYSE: AL) priced its public offering of $750 million of 2.20% senior unsecured medium-term notes due January 15, 2027, and $750 million of 2.875% senior unsecured medium-term notes due January 15, 2032. The offering is expected to close on January 12, 2022. Proceeds will be utilized for general corporate purposes including purchasing commercial aircraft and repaying existing debt. The notes will bear interest payable semi-annually starting July 15, 2022.
Air Lease Corporation (NYSE: AL) will hold a conference call on February 17, 2022, at 4:30 PM Eastern Time to discuss its financial results for the fourth quarter and year end 2021. Investors can join the call by dialing (855) 308-8321 domestically or (330) 863-3465 internationally, using the passcode 4160718. A live broadcast will be available on the Air Lease Corporation website, with a replay accessible from February 17, 2022, 7:30 PM ET to February 24, 2022, at the same number.
Air Lease Corporation (NYSE: AL) has finalized restructuring agreements with Vietnam Airlines for leasing 18 aircraft, comprising 12 Airbus A321neo and 6 Boeing 787-10 jets. These agreements include revised lease terms tailored to the recovering aviation market in Vietnam and Southeast Asia. This strategic move aims to enhance operational efficiency and capitalize on the resurgence of air travel in the region.
Air Lease Corporation (NYSE: AL) announced the delivery of two new Airbus A350-1000 aircraft to Groupe Dubreuil Aéro, enhancing their fleet capabilities. One aircraft will serve Air Caraibes Atlantique, while the other will be the first A350-1000 in FrenchBee's fleet. This delivery underscores ALC's commitment to providing advanced, fuel-efficient aircraft to its airline partners, which include three A350-900s already leased to Groupe Dubreuil Aéro. ALC remains focused on global aircraft leasing and continues to expand its operations.
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