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Air Lease Corp (AL) provides comprehensive aircraft leasing solutions to airlines worldwide. This news hub offers investors and industry professionals direct access to official updates and strategic developments from the company.
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Air Lease (NYSE: AL) reported its Q4 and fiscal year 2024 results, highlighting record revenues driven by $5 billion in aircraft purchases and $1.7 billion in aircraft sales. The company's net income for Q4 2024 was $92.5 million ($0.83 per diluted share), down from $210.6 million ($1.89 per diluted share) in Q4 2023.
For the full year 2024, revenues increased 1.8% to $2.73 billion, while net income decreased 35% to $372.1 million. The company's fleet expanded to 489 owned aircraft with a net book value of $28.2 billion. ALC maintained strong liquidity of $8.1 billion and declared a quarterly dividend of $0.22 per share.
The company has successfully placed 100% of expected aircraft deliveries through 2026 and 85% through 2027 on long-term leases. Total committed minimum future rental payments stood at $29.5 billion, with $18.3 billion from existing fleet and $11.2 billion from future deliveries through 2029.
KBRA has assigned a K1 short-term debt rating to Air Lease 's (NYSE: AL) up to $2 billion Unsecured Commercial Paper Notes Program. The rating reflects AL's A- issuer rating and Stable Outlook, supported by strong liquidity and funding profiles.
As of Q3 2024, AL maintained $7.5 billion in available liquidity, including $461 million in unrestricted cash, $500 million in unfunded term loan commitments, and $6.5 billion in undrawn revolving credit. The company's liquidity position adequately covers $2.8 billion in 2025 debt obligations and is complemented by $1.7 billion in LTM operating cash flow. Additionally, AL holds $28 billion in unencumbered aircraft assets.
The company maintains a low leverage strategy targeting 2.5x Net Debt-to-Equity (2.6x at Q3 2024). The Stable Outlook reflects AL's resilient performance, strong funding access, and favorable industry dynamics with strong aircraft demand and supply.
Air Lease (NYSE: AL) has announced the establishment of a $2.0 billion commercial paper program. Under this program, the company can issue short-term, unsecured commercial paper notes on a revolving basis. The notes will be sold in the U.S. commercial paper market and will rank at least pari passu with AL's other unsecured and unsubordinated debt.
The program allows AL to borrow, repay, and re-borrow funds, with the total outstanding amount not exceeding $2 billion. The proceeds will be used for general corporate purposes, including aircraft purchases and debt repayment. The notes will be issued under Section 4(a)(2) exemption of the Securities Act of 1933 and will not be registered under the Securities Act.
Air Lease (NYSE: AL) has released its fourth quarter 2024 activity update, highlighting significant fleet movements and financial activities. The company's fleet comprised 489 owned and 60 managed aircraft as of December 31, 2024, with 269 new aircraft on order from Airbus and Boeing scheduled for delivery through 2029.
During Q4 2024, ALC delivered 18 new aircraft from its orderbook, including eight A220s, three A321neos, two A330-900neos, two Boeing 737-8s, and three Boeing 787-10s, with total aircraft investments reaching approximately $1.3 billion. The company also sold 14 aircraft to third-party buyers, generating proceeds of approximately $540 million. Additionally, ALC secured a new $966.5 million unsecured term loan facility maturing in December 2027.
Air Lease (NYSE: AL) has announced its upcoming fourth quarter and year-end 2024 earnings conference call, scheduled for February 13, 2025, at 4:30 PM Eastern Time. Investors can participate via phone by dialing 1 (800) 715-9871 (domestic) or 1 (646) 307-1963 (international) using passcode 7572001.
The call will be broadcast live through the Investors page of Air Lease 's website. A replay will be available until February 20, 2025, accessible by dialing 1 (800) 770-2030 (domestic) or 1 (647) 362-9199 (international).
Air Lease is a Los Angeles-based global aircraft leasing company that purchases new commercial aircraft and leases them to airlines worldwide through customized leasing and financing solutions.
Air Lease (NYSE: AL) has successfully closed a new $966.5 million unsecured term loan facility with maturity in December 2027. The loan proceeds will be used for working capital needs and general corporate purposes. The transaction was coordinated by Sumitomo Mitsui Trust Bank and Oversea-Chinese Banking , with additional participation from Bank of China, Bank of East Asia, and Cathay United Bank as Mandated Lead Arrangers and Bookrunners.
According to CFO Gregory B. Willis, this facility provides a diversified financing source and demonstrates the company's strong banking relationships.
Air Lease (NYSE: AL) announced its financial results for Q3 2024, highlighting a 4.7% increase in revenue to $690.2 million compared to Q3 2023. However, net income dropped by 24.9% to $91.6 million, due to higher operating expenses and interest costs. The company took delivery of 20 aircraft, sold nine, and ended the quarter with a fleet of 485 owned aircraft, valued at $27.9 billion. Air Lease also placed 100% of its committed orderbook on long-term leases through 2025. The company issued $300 million in preferred stock and increased its quarterly cash dividend by 5% to $0.22 per share. Despite revenue growth, net income and EPS saw declines, primarily due to higher expenses.
Air Lease (NYSE: AL) has released its activity update for the third quarter of 2024. The company's fleet now consists of 485 owned aircraft and 64 managed aircraft, with 287 new aircraft on order from Airbus and Boeing scheduled for delivery through 2029. During the quarter, ALC delivered 20 new aircraft from its orderbook, including various models from Airbus and Boeing. The company's aircraft investments totaled approximately $1.9 billion.
ALC also sold nine aircraft to third-party buyers, generating sales proceeds of approximately $340 million. On the financing front, the company issued $300 million of 6.00% fixed-rate reset non-cumulative perpetual preferred stock, Series D.
Air Lease (NYSE: AL) has announced its upcoming third quarter 2024 earnings conference call, scheduled for November 7, 2024, at 4:30 PM Eastern Time. Investors can participate by dialing 1 (888) 660-6652 (domestic) or 1 (646) 960-0554 (international) with passcode 5952437. The call will also be broadcast live on the company's website.
A replay of the call will be available from November 7, 2024, until 11:59 PM ET on November 14, 2024. To access the replay, dial 1 (800) 770-2030 (domestic) or 1 (647) 362-9199 (international) with passcode 5952437.
Air Lease , based in Los Angeles, is a leading global aircraft leasing company serving airline customers worldwide through customized aircraft leasing and financing solutions.
Air Lease (NYSE: AL) has delivered the first of six new Airbus A220-300 aircraft to TAAG Angola Airlines, Angola's national carrier. This marks the introduction of the A220 to TAAG's fleet and is part of the airline's long-term fleet modernization program. Steven F. Udvar-Házy, Executive Chairman of Air Lease , expressed pleasure in being the first lessor to introduce the A220 to TAAG.
TAAG's CEO, Nelson de Oliveira, stated that adding the A220-300 demonstrates the airline's ambition for modernization and growth. The aircraft will be operated by an Angolan crew, with multiple teams benefiting from comprehensive training programs. This addition aligns with TAAG's expansion plan, which includes new routes and increased frequencies to address market demand.
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