Welcome to our dedicated page for Air Lease Corporation news (Ticker: $AL), a resource for investors and traders seeking the latest updates and insights on Air Lease Corporation stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Air Lease Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Air Lease Corporation's position in the market.
Air Lease (ALC) reported its financial results for the first quarter of 2024, highlighting growth in revenues, fleet expansion, and sales activities. The company's revenues increased by 4% to $663 million, with net income of $97 million. ALC took delivery of 14 aircraft, sold five aircraft, and issued $1.4 billion in Medium-Term Notes in the quarter. The company ended the quarter with $30.6 billion in committed minimum future rental payments and increased its revolving credit facility capacity to $7.8 billion. A quarterly cash dividend of $0.21 per share was declared by the board of directors. ALC's flight equipment portfolio saw an increase in net book value to $26.5 billion, with 472 owned aircraft and 73 managed aircraft. The company's debt financing activities resulted in total debt financing of $19.5 billion, with 83.3% at a fixed rate and total liquidity of $6.5 billion.
Air Lease (AL) increased its senior unsecured revolving credit facility to $7.8 billion, extending the final maturity date to 2028 and amending total revolving commitments from $7.4 billion across 52 financial institutions. The facility accrues interest at adjusted term SOFR plus a margin of 1.05% per year with a 0.20% facility fee. This move strengthens ALC's funding strategy and reflects the company's strong credit metrics.
