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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 its Q2 2022 aircraft investments and sales activity. As of June 30, ALC's fleet comprised 392 owned and 89 managed aircraft, with 430 new aircraft on order from Boeing and Airbus for delivery through 2028. In Q2, ALC delivered 21 new aircraft, including various Airbus and Boeing models, with total investments around $1.4 billion. There were no aircraft sales during the quarter. The press release includes forward-looking statements and advises investors to monitor ALC’s website for significant updates.
Air Lease Corporation (NYSE: AL) will host a conference call on August 4, 2022, at 4:30 PM ET to discuss its Q2 2022 financial results. Investors can join the call by dialing 1 (833) 634-2156 domestically or 1 (412) 902-4142 internationally. A live broadcast will also be available via the Investors page on the company's website. A replay will be accessible from 7:30 PM ET on August 4 until 7:30 PM ET on August 11. Air Lease Corporation specializes in purchasing and leasing commercial aircraft to airline customers worldwide.
Air Lease Corporation (NYSE: AL) has announced long-term leases for three new Airbus A321neo aircraft with LATAM Airlines, set for delivery in summer and fall of 2023. This marks a significant milestone in LATAM’s fleet modernization strategy, as stated by Executive Chairman Steven Udvar-Házy. The press release includes forward-looking statements, emphasizing that actual results may differ from projections due to various factors. Investors are encouraged to monitor ALC's website for updates and important information.
Air Lease Corporation (NYSE: AL) announced that Gregory B. Willis, Executive Vice President and CFO, will present at the Barclays Americas Select Franchise Conference in London on Wednesday, May 11 at 1:00 pm BST (8:00 am ET). ALC is a premier aircraft leasing company based in Los Angeles, providing customized leasing solutions to airline customers worldwide. Investors are encouraged to visit www.airleasecorp.com for more information about the company’s operations and updates.
Air Lease Corporation (AL) reported financial results for Q1 2022, with revenues rising 25.7% to $596.7 million, driven by fleet growth and lease restructuring gains. However, a significant $802.4 million write-off of Russian assets led to a net loss of $479.4 million, translating to a diluted loss per share of $4.21. The company completed its $150 million stock repurchase program and is pursuing insurance claims for its Russian fleet losses. With $29.5 billion in committed future rental payments, AL remains positioned for growth amid ongoing market challenges.
Air Lease Corporation (NYSE: AL) has successfully amended and extended its senior unsecured revolving credit facility, increasing its total commitments to approximately $7.0 billion and extending the maturity date to May 5, 2026. This facility, now managed by JPMorgan Chase Bank, enhances the company's funding strategy, reflecting strong investment-grade credit metrics. The interest rate is based on adjusted term SOFR plus a margin of 1.05%.
Gregory B. Willis, CFO of Air Lease, emphasized the importance of this facility for the company's fleet expansion.
Air Lease Corporation (NYSE: AL) provided an update on its operations for Q1 2022, highlighting a fleet of 391 owned and 93 managed aircraft, with 451 new aircraft orders through 2028. The company delivered eight new aircraft, investing approximately $490 million in the quarter. Financing efforts included issuing $1.5 billion in senior unsecured medium-term notes. However, ALC terminated leases for all aircraft leased to Russian customers, with 21 owned aircraft remaining in Russia, equating to 3.4% of its fleet by net book value as of March 31, 2022.
Air Lease Corporation (NYSE: AL) will host a conference call on May 5, 2022, at 4:30 PM Eastern Time to discuss its financial results for the first quarter of 2022. Investors can join by dialing (855) 308-8321 domestically or (330) 863-3465 internationally using the passcode 7766137. The call will be live-streamed via the Air Lease Corporation's website, and a replay will be available from 7:30 PM ET on May 5 until 7:30 PM ET on May 12.
Air Lease Corporation (NYSE: AL) announced a long-term lease of a used Airbus A330-200 to UK startup Sentra Airways. Scheduled for delivery in summer 2023, this aircraft will mark the inaugural addition to Sentra's fleet as it operates routes from the UK to West Africa. The partnership is seen as a significant milestone for Sentra Airways, which is actively pursuing regulatory approvals for UK AOC certification. ALC's leasing activities reflect its continued commitment to expanding its global customer base in the commercial aviation sector.
Air Lease Corporation (NYSE: AL) announced long-term lease agreements for nine new Boeing 737 aircraft with Aeromexico, consisting of two 737-8s and seven 737-9s. Deliveries are scheduled between July 2022 and August 2023 from ALC’s orderbook with Boeing. ALC is Aeromexico’s largest lessor, enhancing the airline's operational efficiency with modern, fuel-efficient technology. The partnership aims to modernize Aeromexico's fleet, reflecting an ongoing commitment to environmentally friendly aviation.
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