STOCK TITAN

Air Lease Corporation - AL STOCK NEWS

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.

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.

Rhea-AI Summary

Air Lease (NYSE: AL) has delivered the first of 19 new Airbus aircraft to Condor, a German airline. This delivery marks the beginning of a significant fleet modernization for Condor, with 17 A321-200neos and two A320-200neos scheduled for delivery through 2027. The A321-200neo is expected to enhance Condor's fuel efficiency, performance, and passenger comfort. This delivery solidifies ALC's position as Condor's largest aircraft lessor, with an additional three A321s and two A320s already on long-term lease to the airline.

The partnership between ALC and Condor aims to support the airline's growing fleet and expanding route network. Condor's CFO, Björn Walther, expressed enthusiasm about the delivery, stating that this collaboration will help Condor offer the most modern and efficient fleet in Europe for short and medium-haul routes.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.98%
Tags
none
-
Rhea-AI Summary

Air Lease (NYSE: AL) has provided an update on its aircraft investments, sales, and significant financing activities for Q2 2024. As of June 30, 2024, the company's fleet includes 474 owned and 67 managed aircraft, with 307 new planes on order from Boeing and Airbus, to be delivered by 2029. In Q2, ALC delivered 13 new aircraft from its orderbook and invested around $940 million, mostly in the latter half of the quarter. Additionally, ALC sold 11 aircraft, generating approximately $530 million in proceeds. On the financing front, ALC issued $600 million each in senior unsecured medium-term notes due in 2026 and 2031, with interest rates of 5.30% and 5.20%, respectively.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.02%
Tags
none
-
Rhea-AI Summary

Air Lease (NYSE: AL) will hold a conference call on August 1, 2024, at 4:30 PM ET to discuss its Q2 2024 financial results. Interested investors can join the call by dialing provided domestic or international numbers, using passcode 5952437. The call will also be available via live broadcast on the company's Investors page. A replay will be accessible from August 1, 2024, until August 8, 2024. For replay, use the provided domestic or international dial-in numbers and the same passcode. Air Lease specializes in leasing new commercial aircraft to airline companies globally, offering customized leasing and financing solutions. More details can be found on their website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.43%
Tags
conference call earnings
Rhea-AI Summary

Air Lease (NYSE: AL) announced the pricing of its public offering of $1.2 billion in senior unsecured medium-term notes. The offering includes $600 million of 5.30% notes due June 25, 2026, and $600 million of 5.20% notes due July 15, 2031. The sale is expected to close on June 25, 2024, subject to customary conditions. Proceeds will be used for general corporate purposes, including aircraft purchases and debt repayment. Joint book-running managers include BMO Capital Markets, BNP Paribas, BofA Securities, and others. The offering is being made under the company's effective shelf registration statement filed with the SEC on May 6, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.21%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.29%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.42%
Tags
none
Rhea-AI Summary
Air Lease (NYSE: AL) provided an update on aircraft investments, sales, and financing activities in the first quarter of 2024. The company's fleet consisted of 472 owned aircraft and 73 managed aircraft, with 320 new aircraft on order from Boeing and Airbus. ALC delivered 14 new aircraft, sold five aircraft, and issued a total of $1.5 billion in senior unsecured medium-term notes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.71%
Tags
none
-
Rhea-AI Summary
Air Lease (AL) will hold a conference call on May 6, 2024, at 4:30 PM ET to discuss its Q1 2024 financial results. Investors can join by dialing 1 (888) 660-6652 (domestic) or 1 (646) 960-0554 (international), with the passcode 5952437. The call will be live-streamed on the company's website. A replay will be available until May 13, 2024, for those who miss the call.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.28%
Tags
-
Rhea-AI Summary
Air Lease (AL) successfully closed a €600 million offering of 3.70% senior unsecured medium-term notes due in 2030. The Notes bear interest at 3.70% per annum and mature on April 15, 2030. The Company plans to use the net proceeds for general corporate purposes, including aircraft purchases and debt repayment.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.34%
Tags
none
Rhea-AI Summary
KBRA affirms A- issuer and senior unsecured debt ratings for Air Lease and assigns A- rating to Medium-Term Notes. The ratings reflect AL's strong financial fundamentals, young fleet, diverse customer base, and access to capital markets. Despite industry challenges and key-man risk, AL's Stable Outlook is supported by its resilient performance during the pandemic and favorable industry dynamics.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.68%
Tags
none

FAQ

What is Air Lease Corporation?

Air Lease Corporation (NYSE: AL) is a global aircraft leasing company based in Los Angeles, California. It acquires commercial aircraft and leases them to airline companies worldwide.

When was Air Lease Corporation founded?

Air Lease Corporation was founded in 2010.

What is the primary business of Air Lease Corporation?

The primary business of Air Lease Corporation is purchasing commercial aircraft and leasing them to airline partners globally through customized leasing and financing solutions.

Who are the main aircraft manufacturers ALC purchases from?

ALC primarily purchases aircraft from The Boeing Company and Airbus S.A.S.

What type of aircraft does Air Lease Corporation's fleet include?

ALC's fleet includes single-aisle narrow-bodied jets and twin-aisle wide-bodied aircraft.

How widespread are Air Lease Corporation's operations?

ALC operates globally, including regions such as the Asia Pacific, Europe, the Middle East and Africa, Central America, South America and Mexico, and North America.

What recent financial activities has Air Lease Corporation undertaken?

In February 2024, ALC completed a C$400 million medium-term notes offering maturing in 2028, aimed at purchasing aircraft and repaying debt.

Which airlines has Air Lease Corporation recently partnered with?

Recently, ALC has partnered with Thai Airways International for three Boeing 787-9 aircraft and Transavia for two Airbus A321-200neo aircraft.

What is the composition of Air Lease Corporation's fleet?

As of March 2024, ALC's fleet includes 472 owned aircraft, with an additional 320 new aircraft on order for delivery through 2028.

How does Air Lease Corporation manage financial health and leverage?

ALC maintains a disciplined financial approach with a composite cost of funds at 4.03% and targets a leverage ratio around 2.5x Debt-to-Equity.

Air Lease Corporation

NYSE:AL

AL Rankings

AL Stock Data

5.30B
111.37M
6.52%
102.27%
4.04%
General Rental Centers
Real Estate and Rental and Leasing
Link
United States of America
LOS ANGELES