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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 that CEO John L. Plueger will speak at the Bank of America Merrill Lynch 2021 Defense Outlook & Commercial Aerospace Forum on January 7, 2021, at 10:15 a.m. ET. The event will be held virtually and can be viewed live on the company’s website. Attendees are advised to register beforehand and download necessary audio software. Relevant materials for the session will be made available 15 minutes prior to the speech.
ALC is a premier aircraft leasing firm based in Los Angeles, catering to global airline clients.
Air Lease Corporation (NYSE: AL) has delivered a new Airbus A320-200neo to Peach Aviation Limited in Japan. This aircraft, equipped with CFM International LEAP-1A engines, marks the first of two A320-200neo leases scheduled for December 2020. In addition, Peach is set to receive two A321-200neo LRs from ALC in 2021 and 2022. ALC's Executive Chairman emphasizes the company's commitment to environmental sustainability through these fuel-efficient aircraft, enhancing Peach's operational capabilities.
Air Lease Corporation (NYSE: AL) has entered a long-term lease agreement for one Airbus A321-200neo with Pegasus Airlines, set for delivery in Spring 2023. Additionally, Pegasus Airlines will sell four Boeing 737-800 aircraft to ALC under a sale-leaseback agreement, leasing them back from ALC. This deal supports Pegasus' efforts in fleet modernization and aims to enhance its environmental, financial, and operational performance.
Air Lease Corporation (NYSE: AL) announced long-term lease agreements for 13 new Boeing 737-9 aircraft with Alaska Airlines, set to deliver from the second half of 2021 to the end of 2022. Alaska Airlines will also sell ten Airbus A320-200s to ALC, leasing them back in alignment with its fleet modernization plans. Executive Chairman Steven F. Udvar-Házy emphasized the importance of these deals for Alaska's diverse route network, while Alaska Air Group's CEO, Brad Tilden, highlighted the operational and financial benefits of these transactions.
Air Lease Corporation (NYSE: AL) has priced its public offering on November 17, 2020, of $750 million in senior unsecured medium-term notes: $750 million of 2.875% notes maturing on January 15, 2026, and $750 million of 3.125% notes maturing on December 1, 2030. Closing is expected on November 24, 2020. The funds will be used for general corporate purposes, including aircraft purchases and debt repayments. The 2026 Notes will trade interchangeably with existing notes, bringing total outstanding to $1.45 billion.
Air Lease Corporation (NYSE: AL) will feature Gregory B. Willis, EVP and CFO, at the Stephens Annual Investment Conference. The virtual event will take place on November 17, 2020, at 1:00 p.m. ET, accessible via the Air Lease Corporation website. Attendees may also use a direct link for the webcast. Essential materials will be available 15 minutes before the presentation. ALC specializes in aircraft leasing, providing customized solutions to airline customers globally. Investors are encouraged to check the ALC website regularly for vital updates.
Air Lease Corporation (NYSE: AL) has delivered a new Airbus A321-200neo LR aircraft to Titan Airways, marking the first of two planned deliveries from its order with Airbus. This new aircraft, equipped with CFM International LEAP-1A33 engines, is expected to enhance Titan Airways' operations significantly. The second A321-200neo LR is scheduled to be delivered in Spring 2021. The announcement underscores ALC's role in providing customized leasing solutions to airlines worldwide.
Air Lease Corporation (NYSE: AL) announced the delivery of an Airbus A321-200neo LR aircraft on long-term lease to SAS, marking the first of three units scheduled for delivery. This aircraft, powered by CFM LEAP-1A33 engines, will enhance SAS’s operations, supporting non-stop transatlantic flights from Scandinavia. SAS aims to reduce carbon emissions by 25% by 2025, making this delivery part of its fleet renewal strategy. ALC also previously delivered two A320-200neo aircraft to SAS in 2020, totaling five aircraft on lease in 2021.
Air Lease Corporation (NYSE: AL) announced that CEO John L. Plueger will deliver a keynote address at the Airline Economics Growth Frontiers New York 2020 virtual event on October 15, 2020, at 10:15 a.m. ET. The event is free for participants, who can register on the Airline Economics website. ALC specializes in purchasing and leasing commercial aircraft to airlines worldwide, providing customized leasing and financing solutions. Investors are encouraged to visit ALC's website for additional important information.
Air Lease Corporation (NYSE: AL) announced key updates as of September 30, 2020. The company operates a fleet of 308 owned and 81 managed aircraft, with a total of 377 new aircraft on order from Boeing and Airbus for delivery through 2026.
During the third quarter, ALC delivered seven new aircraft and invested approximately $0.6 billion in aircraft. The company issued $700 million in senior unsecured medium-term notes due 2026 at a fixed rate of 2.875% and maintained $7 billion in liquidity.
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