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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) has successfully amended and extended its senior unsecured revolving credit facility with JPMorgan Chase Bank, enhancing its financial flexibility. The maturity date is now extended to May 5, 2027, with total commitments rising to approximately $7.2 billion from 49 financial institutions as of May 5, 2023. The facility interest rate is tied to adjusted term SOFR plus a margin of 1.05% per year, alongside a 0.20% facility fee, adjustable based on credit ratings. Gregory B. Willis, CFO, emphasized that this extension underscores the company's robust investment-grade credit metrics and is vital for its cost-efficient funding strategy.
Air Lease Corporation (NYSE: AL) reported significant activities in aircraft investments, sales, and financing for Q1 2023. As of March 31, 2023, the fleet included 437 owned and 86 managed aircraft, with 376 new planes on order from Boeing and Airbus for delivery through 2029. The company delivered 22 new aircraft, totaling about $1.4 billion in investments this quarter. ALC sold two aircraft to third parties and secured $700 million through senior unsecured notes, along with completing a $600 million sukuk offering. ALC aims to leverage these activities for growth while managing the associated market risks.
Air Lease Corporation (NYSE: AL) announces a conference call scheduled for May 1, 2023 at 4:30 PM Eastern Time to discuss its Q1 2023 financial results. Investors can join by calling 1 (888) 660-6652 domestically or 1 (646) 960-0554 internationally, using passcode 5952437. The call will also be available via live broadcast on the company's website. A replay will be accessible until May 8, 2023. Air Lease Corporation is recognized as a leading global aircraft leasing company based in Los Angeles, providing tailored leasing and financing solutions to airline customers worldwide.
Air Lease Corporation (NYSE: AL) announced the completion of its inaugural sukuk issuance on
Air Lease Corporation (NYSE: AL) will present at the J.P. Morgan Industrials Conference 2023 in New York City on March 15, 2023, at 9:40 a.m. Eastern Time. Key executives including Executive Chairman Steven F. Udvar-Házy, CEO John L. Plueger, and CFO Gregory B. Willis will participate in this event. The presentation will be available for live streaming on the Air Lease Corporation's website. Interested parties can also access the webcast via a direct link. ALC specializes in leasing commercial aircraft to global airline customers, providing tailored leasing solutions.
Air Lease Corporation (NYSE: AL) announced long-term lease agreements for three new Airbus A350-900 aircraft with Air France, scheduled for delivery in Q2 2024. This deal supports Air France’s long-haul fleet modernization efforts. Additionally, ALC will deliver nine Airbus A321neo aircraft to the Air France-KLM Group between late 2023 and 2026, along with five Boeing 737s to Transavia in the first half of this year. The Air France-KLM Group is ALC’s largest European customer, which also includes Transavia Netherlands and Transavia France.
Air Lease Corporation (AL) reported its financial results for Q4 and the fiscal year ending December 31, 2022. Revenues increased by 11% to $2.3 billion compared to 2021, driven by fleet growth and reduced COVID-19 related lease losses. However, the net loss attributable to common stockholders was $138.7 million, translating to $1.24 per diluted share due to a significant $771.5 million write-off of the Russian fleet. The company ended the year with $31.4 billion in committed future rental payments, while total liquidity stood at $6.9 billion. A quarterly dividend of $0.20 per share was declared, reflecting confidence in future operations.
Air Lease Corporation (NYSE: AL) announced the long-term lease placement of six Airbus A220 aircraft with Croatia Airlines. This includes four A220-300s and two A220-100s, with deliveries scheduled from 2024 to 2025. Executive Chairman Steven F. Udvar-Házy expressed satisfaction regarding this partnership, highlighting its significance in the airline's effort to modernize and expand its fleet with fuel-efficient jets. While the announcement includes forward-looking statements concerning delivery dates, actual outcomes may vary based on various factors. ALC continues its operations as a prominent global aircraft leasing company based in Los Angeles.
Air Lease Corporation (NYSE: AL) reported substantial activity in aircraft investments, sales, and financing during Q4 2022. By December 31, 2022, ALC's fleet consisted of 417 owned and 85 managed aircraft, with 398 new orders from Boeing and Airbus scheduled for delivery by 2028. Key highlights include the delivery of 16 new aircraft valued at approximately
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