Air Lease Corporation Activity Update for the First Quarter of 2024

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04/09/2024 - 06:31 AM

LOS ANGELES--(BUSINESS WIRE)-- Today Air Lease Corporation (NYSE: AL) announced an update on aircraft investments, sales, and significant financing activities occurring in the first quarter of 2024.

As of March 31, 2024, ALC’s fleet was comprised of 472 owned aircraft and 73 managed aircraft, with 320 new aircraft on order from Boeing and Airbus set to deliver through 2028.

Aircraft Investments

Delivered 14 new aircraft from ALC’s order book including two Airbus A220s, one Airbus A320neo, six Airbus A321neos, one Airbus A350-1000, and four Boeing 737-8s.
Aircraft investments in the quarter totaled approximately $900 million, with the majority occurring in the second half of the quarter.

Sales

Sold five aircraft to third-party buyers.
Aircraft sales proceeds for the quarter totaled approximately $240 million.

Financing

Issued $500 million of 5.10% senior unsecured medium-term notes due 2029.
Issued C$400 million of 5.40% senior unsecured medium-term notes due 2028.
Issued €600 million of 3.70% senior unsecured medium-term notes due 2030.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

About Air Lease Corporation (NYSE: AL)

Air Lease Corporation is a leading global aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. The company routinely posts information that may be important to investors in the “Investors” section of its website at www.airleasecorp.com. Investors and potential investors are encouraged to consult Air Lease Corporation’s website regularly for important information. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.