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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 announced a significant lease agreement for 19 new Airbus aircraft with Condor, including 17 A321neos and 2 A320neos, scheduled for delivery from early 2024 to mid-2027. This collaboration highlights ALC's strong relationship with Condor, enhancing the airline's fleet with modern, fuel-efficient options to maintain competitiveness in the European market. The leased aircraft will support Condor's modernization efforts, aiming for one of the greenest fleets in Europe.
Air Lease Corporation (AL) reported strong Q2 2022 financial results, highlighting a 13.4% increase in revenues to $557.7 million and a net income of $105.9 million, up 23.7% year-over-year. The company has taken delivery of 21 aircraft valued at approximately $1.4 billion, with 99% of its contracted orderbook now on long-term leases. However, challenges include a significant $802.4 million loss due to the write-off of its Russian fleet. The company maintains a robust liquidity of $7.6 billion and a net book value of $23.5 billion for its fleet.
Air Lease Corporation (NYSE: AL) announced the long-term lease of two Airbus A321neo aircraft to Qanot Sharq Airlines, Uzbekistan's first privately-owned airline. The aircraft, slated for delivery this fall, will enhance Qanot Sharq's operational capabilities and expand its service offerings. ALC's Vice President highlighted the positive economic reforms in Uzbekistan that are fostering airline growth and increasing travel demand. The new A321neos will provide operational efficiencies and a premium travel experience for passengers.
Air Lease Corporation (NYSE: AL) announced long-term leases for six new Airbus A220-300 aircraft with TAAG Angola Airlines. Deliveries are scheduled from 2023 to 2024. Executive Chairman Steven Udvar-Házy emphasized that this partnership marks the introduction of Airbus aircraft to TAAG, enhancing operational efficiency. The A220-300s will replace TAAG's Boeing 737-700 fleet, optimizing flight schedules and destinations. This collaboration signifies TAAG's renewed vision and commitment to improved service.
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.
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