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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 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.
Air Lease Corporation (NYSE: AL) has announced the long-term lease of four Airbus A320neo aircraft to Volaris, Mexico's largest airline. Two of these aircraft are sourced from ALC's order book with Airbus, while the other two come from third-party sale-leasebacks. Deliveries are expected during the remainder of Q2, aligned with Volaris's projected strong summer traffic demand. This deal highlights ALC's effective pairing of sale-leasebacks and direct order placements.
Air Lease Corporation (NYSE: AL) announced the delivery of two new Boeing 787-9 aircraft under a long-term lease to China Southern Airlines. These deliveries mark the fourth and fifth of five new 787-9s ordered by China Southern from ALC. Jie Chen, Executive VP and Managing Director of ALC in Asia, expressed pride in supporting the airline's growth. The press release includes forward-looking statements indicating that actual results may differ from expectations due to various factors.
Air Lease Corporation (NYSE: AL) has successfully delivered a new Airbus A321-200neo LR aircraft to Air Arabia on a long-term lease. This delivery marks the sixth out of six A321-200neo LRs to be leased from ALC’s order book with Airbus. Executive Chairman Steven F. Udvar-Házy noted the positive impact of ALC's A321neos on Air Arabia's operations since the first delivery in April 2019.
The company emphasizes its commitment to providing innovative leasing solutions to airline customers worldwide.
Air Lease Corporation (NYSE: AL) has delivered a new Airbus A321-200neo LR aircraft to Air Astana on a long-term lease. This delivery marks the fifth A321-200neo LR provided by ALC to the airline, which also leases several other Airbus models from ALC. ALC's Executive Chairman expressed satisfaction in supporting Air Astana's fleet modernization initiative. The A321LR is noted for its enhanced range and lower emissions, contributing to Air Astana's expanding international operations post-recovery from prior reductions.
Air Lease Corporation (NYSE: AL) provided an update on its aircraft operations for Q1 2021. As of March 31, 2021, ALC had a fleet of 342 owned and 83 managed aircraft, with 349 new aircraft on order for delivery through 2027. In the quarter, ALC delivered ten new aircraft and invested about $600 million. Financing activities included issuing $750 million in senior unsecured notes and $300 million in preferred stock. ALC's long-term rating from S&P was affirmed at BBB, with a stable outlook.
Air Lease Corporation (NYSE: AL) successfully delivered its first Airbus A330-900 to Delta Air Lines on April 5th, marking the beginning of a sale-leaseback arrangement with Blackbird Capital II. This delivery is part of a larger agreement involving two A330-900s, with a prior delivery from ALC's order book in October 2020. CEO John L. Plueger expressed satisfaction with the strengthening partnership between ALC and Delta, highlighting the synergy of ALC’s order book with their lease operations.
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