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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) 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.
Air Lease Corporation (NYSE: AL) has delivered its first of 13 Boeing 737-9 aircraft on long-term lease to
Air Lease Corporation (NYSE: AL) announced that Steven F. Udvar-Házy and John L. Plueger will be speaking at the Airline Economics Growth Frontiers London 2021 conference on September 20, 2021. This event highlights ALC's engagement with key industry players and showcases their leasing solutions for airlines worldwide. Attendees can find presentation materials in advance on the Investors section of the Air Lease website. For more information about the conference, visit here.
Air Lease Corporation (NYSE: AL) has announced that Gregory B. Willis, Executive Vice President and CFO, will present at the Deutsche Bank 11th Annual Aircraft Finance & Leasing Conference in New York City on Tuesday, September 14th at 2:00 PM ET. The presentation will be live-streamed on the Air Lease Corporation Investors page. Interested parties can access the webcast via the provided links. Materials for the presentation will be available in advance on the company’s website, which is regularly updated with important investor information.
Air Lease Corporation (NYSE: AL) announced long-term leases for ten Airbus A321-200neo aircraft and sale and lease-backs of five Airbus A320-200neo aircraft to Spirit Airlines (NYSE: SAVE). Deliveries are set between 2021 and 2024. This partnership aims to enhance Spirit's fleet efficiency and support its growth plans. The deal underscores ALC's tailored fleet solutions and Spirit's efforts to maintain a competitive, fuel-efficient fleet.
Air Lease Corporation (NYSE: AL) announced that Gregory B. Willis, Executive Vice President and CFO, will speak at the Barclays Global Financial Services Conference in New York City on Monday, September 13th at 12:00 PM Eastern Time. The event will be broadcast live on the Investors page of Air Lease Corporation's website. Interested parties can access the webcast directly through a provided link. Additionally, materials for the presentation will be available in advance on the company’s website, which is encouraged for prior registration and necessary software installation.
Air Lease Corporation (NYSE: AL) has priced two public offerings totaling $1.1 billion: $600 million in 0.80% senior unsecured medium-term notes due August 18, 2024, and $500 million in 2.10% senior unsecured medium-term notes due September 1, 2028. The offerings, set to close on August 18, 2021, will support general corporate purposes, including aircraft purchases and debt repayment. Interest for the 2024 Notes is 0.80% per annum, while the 2028 Notes bear 2.10%, payable semi-annually starting in 2022.
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