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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) announced long-term lease agreements for two new Airbus A350-1000 aircraft with Virgin Atlantic, expected to deliver in 2023 and 2024. This move aligns with ALC's commitment to support Virgin Atlantic's fleet modernization and sustainable travel efforts. Executive Chairman Steven F. Udvar-Házy emphasized the long-standing partnership with the airline, highlighting the significance of these new aircraft in enhancing Virgin Atlantic's operations.
Air Lease Corporation (NYSE: AL) announced today the delivery of its first Airbus A321-200neo LR to Peach Aviation, marking a significant expansion in the airline's fleet operations. This long-term lease is part of ALC's ongoing partnership with Peach, which already includes two A320-200neos. The A321neo LR, equipped with CFM International LEAP-1A32 engines, enhances Peach Aviation's operational capabilities and supports its commitment to a modern, efficient fleet. ALC's strategy continues to focus on delivering advanced, fuel-efficient aircraft to its global airline customers.
Air Lease Corporation (NYSE: AL) announced that Gregory B. Willis, Executive Vice President and CFO, will participate in a fireside chat at the Stephens Annual Investment Conference on December 2 at 11:00 AM Eastern Time in Nashville, Tennessee. Virtual attendees can join via a provided link. The company emphasizes its role as a leading aircraft leasing firm, serving airline customers worldwide with customized leasing solutions. Investors are encouraged to visit ALC’s website for more updates and materials related to this event.
Air Lease Corporation (NYSE: AL) has delivered its first Airbus A321-200neo aircraft to China Airlines on a long-term lease. This aircraft, featuring Pratt & Whitney PW1133G-JM engines, is part of a confirmed order for six A321-200neos. CEO John L. Plueger highlighted the aircraft's significance for China Airlines' fleet expansion and modernization, emphasizing improved fuel efficiency and profitability. ALC's commitment to sustainability and enhanced passenger experience were also underscored. Forward-looking statements regarding future performance and deliveries were noted.
Air Lease Corporation (AL) has reported promising financial results for Q3 and the first nine months of 2021, with a 6.3% increase in revenues to $524.5 million, driven by record rental revenue and lease placements. The company achieved the highest quarterly rental revenue since inception, placing 64 aircraft in a single quarter. However, net income available to common stockholders declined by 14.2% to $100 million due to lower aircraft sales. AL plans to increase its quarterly dividend by 15.6% to $0.185 per share, marking the ninth increase in its history.
Air Lease Corporation (NYSE: AL) announced that CEO John L. Plueger will speak at the Airline Economics Growth Frontiers New York 2021 conference on October 21, 2021, at 10:20 AM ET. The discussion will feature a fireside chat format with Boeing Commercial Airplanes CEO Stan Deal. For more details, attendees can visit the conference website. Additionally, materials for the engagement will be available on Air Lease's Investors section prior to the presentation. Air Lease Corporation, based in Los Angeles, specializes in purchasing and leasing commercial aircraft to airlines globally.
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.
Air Lease Corporation (NYSE: AL) has priced its public offering of 300,000 shares of 4.125% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C, with a $1,000 liquidation preference per share. The offering is expected to close on October 13, 2021. Dividends will accrue at 4.125% until December 15, 2026, after which the rate will adjust based on the U.S. Treasury Rate plus 3.149%. Proceeds will be used for general corporate purposes, including aircraft purchases and debt repayment.
Air Lease Corporation (NYSE: AL) will host a conference call on November 4, 2021 at 4:30 PM ET to discuss its third-quarter financial results. Investors can join by calling (855) 308-8321 domestically or (330) 863-3465 internationally, using passcode 4987315. The call will also be available via live broadcast on the company's website. A replay of the conference call will be accessible from 7:30 PM ET on November 4 until 7:30 PM ET on November 11, with the same dial-in information.
Air Lease Corporation (NYSE: AL) has secured a significant deal with ITA, Italy's new national airline, to lease 31 new Airbus aircraft, including A220s, A320neos, A321neos, and A330-900neos. Deliveries will commence in late 2022 and extend through early 2025. Additionally, ITA has signed a Memorandum of Understanding with Airbus for 28 new aircraft purchases. This partnership aims to establish an environmentally friendly fleet while enhancing operational efficiency. ALC's Executive Chairman expressed pride in supporting ITA's growth strategy.
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