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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 (AL) reported financial results for the three and nine months ended September 30, 2022. Revenues increased by 7.0% to $561.3 million compared to Q3 2021, driven by fleet growth and aircraft sales. The net income attributable to common shareholders remained steady at $100.0 million. The Board announced a quarterly dividend increase to $0.20 per share, marking 40 consecutive payments. The company ended Q3 with $30.9 billion in committed future rental payments and a fleet of 405 aircraft valued at $23.9 billion, with a weighted average age of 4.5 years.
Air Lease Corporation (NYSE: AL) announced long-term leases for three Boeing 737-8 aircraft with Italian airline Aeroitalia. Deliveries are scheduled between 2023 and 2024. Executives from both companies highlighted the efficiency and growth potential of these aircraft for Aeroitalia, supporting its business expansion and sustainability goals. The deal emphasizes the strengthening relationship between ALC and Aeroitalia, with expectations of improved operational capacity for the airline.
Air Lease Corporation (NYSE: AL) has successfully completed the delivery of a tenth Airbus A320-200 aircraft to Allegiant Air, marking the final delivery of ten used A320s formerly leased to Alaska Airlines. This delivery enhances Allegiant's fleet with modern, fuel-efficient aircraft. In addition, ALC has signed long-term lease agreements with Alaska Airlines for 14 new Boeing 737-9 aircraft, with 11 already delivered. Forward-looking statements suggest further deliveries are expected.
Air Lease Corporation (NYSE: AL) announced long-term leases for five new Airbus A321-200 XLR aircraft with LATAM Airlines, set to deliver between fall 2025 and 2026. This agreement marks the introduction of the XLR model to LATAM, which is enhancing its fleet with advanced technology to improve efficiency and passenger experience. LATAM Airlines, the largest carrier in South America, is modernizing its fleet to expand its international route network, thereby optimizing operational capabilities.
Air Lease Corporation (NYSE: AL) provided a third-quarter update highlighting its aircraft investments and sales. As of September 30, 2022, the fleet included 405 owned and 87 managed aircraft, with 412 new aircraft on order for delivery through 2028. The company delivered 14 new aircraft during the quarter and invested approximately $840 million in aircraft. Additionally, one aircraft was sold to a third-party buyer. The statement includes forward-looking remarks indicating uncertainty rooted in ongoing economic conditions, including the COVID-19 pandemic.
Air Lease Corporation (NYSE: AL) has announced a long-term lease of six Boeing 737-8 aircraft to LOT Polish Airlines, set to deliver in October 2022. This expansion will double ALC's aircraft portfolio with LOT to 12 planes, enhancing the airline's fleet modernization efforts since 2017. ALC's Executive Chairman emphasized the significance of this partnership for LOT's network strategy. Meanwhile, LOT is in the process of selecting a new fleet for its regional and narrow-body segments, with these aircraft serving as a bridging solution.
Air Lease Corporation (NYSE: AL) announced a conference call scheduled for November 3, 2022 at 4:30 PM Eastern Time to discuss its financial results for Q3 2022. Investors can join by dialing 1 (888) 660-6652 (domestic) or 1 (647) 362-9199 (international), using passcode 5952437. The call will also be available via live broadcast on the company's website. A replay will be accessible from 7:30 PM ET on November 3 until 7:30 PM ET on November 10, 2022. Visit the Air Lease website for more details.
Air Lease Corporation (NYSE: AL) has announced the long-term lease of two new Airbus A321neo LR aircraft to HiSky, scheduled for delivery in March 2023. This follows the successful leasing of several A320 family aircraft to HiSky since its launch in 2020. HiSky's CEO, Iulian Scorpan, indicated that the new A321neo LRs will support the airline's growth strategy, enhancing their long-range service offerings beginning in April 2023. Forward-looking statements caution that actual performance may differ from projections due to various factors.
Air Lease Corporation (NYSE: AL) has secured long-term lease agreements for four Airbus A321XLR aircraft with Air Transat, marking a significant milestone in fleet renewal. Deliveries are scheduled to begin in late 2025, with an option for a fifth aircraft in 2027. This partnership aims to enhance Air Transat's operational efficiency and customer service. Steven Udvar-Házy, Executive Chairman of ALC, highlighted the comfort and efficiency the A321XLR will bring, while Air Transat's CEO noted the aircraft's strategic importance in their operational flexibility and transatlantic program.
Air Lease Corporation (NYSE: AL) announced that its Executive Chairman, Steven F. Udvar-Házy, will present at the Deutsche Bank 12th Annual Aircraft Finance & Leasing Conference in New York City on September 7 at 2:30 PM Eastern Time. The presentation will be live-streamed on the Investors page of the Air Lease Corporation website. Interested parties can find all necessary materials and register for the webcast beforehand. This event highlights ALC's position as a leading global aircraft leasing company, providing customized leasing solutions to airline customers worldwide.
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