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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 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
Air Lease Corporation (NYSE: AL) is set to host a conference call on February 16, 2023, at 4:30 p.m. ET to discuss its Q4 and full-year 2022 financial results. Investors can join via phone or listen live through the company's website. A replay will be available post-call until February 23, 2023. The company specializes in aircraft leasing and provides tailored financing solutions to airlines globally.
Air Lease Corporation (NYSE: AL) announced the pricing of a public offering of $700 million in senior unsecured medium-term notes at an interest rate of 5.30%, maturing on February 1, 2028. The offering is set to close on January 13, 2023, pending customary conditions. Proceeds will be utilized for general corporate purposes, including aircraft purchases and debt repayment. The Notes will yield interest payable semi-annually, commencing August 1, 2023.
Air Lease Corporation (NYSE: AL) has announced the closing of a $400 million unsecured term loan facility with a maturity date in 2027. The loan proceeds will support general corporate purposes. The transaction was arranged by Sumitomo Mitsui Trust Bank, along with other global banks. This financing enhances ALC's liquidity, complementing a recent $700 million fixed-rate senior unsecured notes offering. Senior VP Daniel Verwholt highlighted the diversified financing source, showcasing ALC's strong banking relationships.
Air Lease Corporation (NYSE: AL) has priced a public offering of $700 million in 5.85% senior unsecured medium-term notes, maturing on December 15, 2027. The offering is set to close on December 5, 2022, pending customary conditions. The notes will pay interest semi-annually, starting June 15, 2023. Proceeds will be used for general corporate purposes, including aircraft purchases and existing debt repayment. Joint book-running managers include BofA Securities and J.P. Morgan Securities.
Air Lease Corporation (NYSE: AL) has announced long-term lease agreements for three new Boeing 787-9 aircraft with Air Astana, Kazakhstan's national carrier. Deliveries are set to commence in early 2025 and continue through spring 2026, enhancing Air Astana's fleet modernization and long-range operational capabilities. Executive Chairman Steven Udvar-Házy emphasized the importance of these leases in improving passenger comfort while expanding international routes. This partnership further solidifies ALC's commitment to providing efficient aircraft to its clients.
Air Lease Corporation (NYSE: AL) announced that CEO John L. Plueger and CFO Gregory B. Willis will speak at the Airline Economics Growth Frontiers Asia Pacific Conference in Singapore on November 8 and 9, 2022. Attendees can find additional details on the conference website. Relevant presentation materials will be available in advance on the Air Lease Investors section of their website. The company specializes in leasing commercial aircraft globally, offering custom solutions to airline customers.
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