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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) will conduct a conference call on August 5, 2021, at 4:30 PM ET to discuss its financial results for Q2 2021. Investors can join by calling (855) 308-8321 domestically or (330) 863-3465 internationally, using passcode 2778579. The call will also be streamed live on the company's website, with a replay available from 7:30 PM ET on the same day until August 12, 2021. ALC, based in Los Angeles, specializes in aircraft leasing to global airline customers.
Blackbird Capital II LLC has successfully closed a $745 million Fixed Rate Notes offering, consisting of $630 million of Series A Notes at a 2.443% rate and $115 million of Series B Notes at a 3.446% rate. The Notes are rated A1 and Baa1 by Moody's and backed by 18 aircraft, which have an average age of 2.9 years, leased to 12 lessees across 11 countries. Proceeds will refinance existing loans and acquire the aircraft. The offering was coordinated by BofA Securities and involves several financial institutions, ensuring continued investment in the aviation sector.
Air Lease Corporation (NYSE: AL) announced that Steven F. Udvar–Házy, Executive Chairman, will speak at the Jefferies Airlines Summit on June 15, 2021, at 12:00 p.m. Eastern Time. The event will be broadcast live on the company’s Investors page, and attendees can access the webcast directly via a provided link. ALC specializes in purchasing and leasing commercial aircraft worldwide. Investors are encouraged to regularly check the ALC website for important updates.
Air Lease Corporation (NYSE: AL) has successfully delivered its first Airbus A350-900 aircraft with Rolls-Royce Trent XWB engines on long-term lease to World2Fly, a Spanish airline. This delivery marks the initial phase of ALC's order of two A350-900 aircraft for World2Fly. Matthew Stevens, Assistant VP of Marketing at ALC, expressed confidence that the A350-900 will enhance World2Fly's market presence. The press release includes forward-looking statements about future deliveries, underscoring the potential for significant performance variations.
Air Lease Corporation (NYSE: AL) announced the delivery of a new Boeing 737-9 aircraft on a long-term lease to Aeromexico. This marks the first of four Boeing 737-9s Aeromexico is set to lease from ALC. Executive Chairman Steven Udvar-Házy emphasized the importance of this aircraft for Aeromexico's fleet operations and route network.
The press release includes forward-looking statements regarding future deliveries and highlights ALC's role as a leading aircraft leasing company in the commercial aviation sector.
Air Lease Corporation (NYSE: AL) has elected Yvette Hollingsworth Clark as an independent director to its Board of Directors, effective May 24, 2021. She will also serve on the audit committee. Steven F. Udvar-Házy, Executive Chairman, stated that her addition will enhance the Board's skill set and shareholder value. Ms. Hollingsworth Clark is the President & CEO of Hollingsworth Compliance Consulting LLC, with a background in risk management and compliance at major financial institutions. She holds a BS in Finance and an MBA in Finance.
Air Lease Corporation (NYSE: AL) announced a public offering of $1.2 billion of 1.875% senior unsecured medium-term notes due August 15, 2026. The offering is set to close on May 24, 2021, pending customary conditions. The notes will yield 1.875% interest, payable semi-annually starting February 15, 2022. Proceeds will be used for general corporate purposes, including aircraft purchases and debt repayment. The notes are offered under the company's SEC shelf registration statement filed on May 7, 2021.
Air Lease Corporation (NYSE: AL) announced that CEO John L. Plueger will present at the virtual BofA Securities Transportation, Airlines and Industrials Conference on May 20, 2021, at 11:20 a.m. ET. The event will be streamed live via the company's website. Attendees are encouraged to register in advance and ensure they have necessary audio software installed. ALC specializes in aircraft leasing to airline customers globally.
Air Lease Corporation (AL) reported its financial results for Q1 2021, achieving $474.8 million in revenues, a decrease from $511.4 million in Q1 2020. Operating cash flow showed modest growth, reflecting improved performance post-pandemic. The company's CEO, John Plueger, highlighted ongoing support for airline clients and an expected recovery in air travel, particularly in the US and China. ALC remains focused on environmentally friendly aircraft leases, which are crucial for airlines’ fleet restructuring amidst recovery efforts.
Air Lease Corporation (NYSE: AL) has successfully amended and extended its senior unsecured revolving credit facility with JPMorgan Chase Bank, increasing commitments to approximately $6.4 billion from $6.2 billion and extending the maturity to May 5, 2025. The facility remains priced at LIBOR plus 105 basis points, subject to adjustments based on credit ratings. Gregory B. Willis, CFO, emphasized the facility's role in ALC's funding strategy and its reflection of the company's strong investment-grade credit metrics.
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