Air Lease Corp - AL STOCK NEWS

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.

Air Lease (NYSE: AL) has announced the pricing of its public offering of 300,000 shares of 6.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series D, with a liquidation preference of $1,000.00 per share. The sale is expected to close on September 24, 2024. Dividends will accrue at 6.00% from September 24, 2024 to December 15, 2029, and thereafter at the Five-year U.S. Treasury Rate plus 2.56%, with a minimum rate of 6.00%. The company plans to use the proceeds to redeem its outstanding 6.15% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, and for general corporate purposes, including aircraft purchases and debt repayment.

Air Lease (NYSE: AL) has announced that Executive Chairman Steven F. Udvar-Házy will be presenting at the Deutsche Bank 14th Annual Aircraft Finance & Leasing Conference in New York City on Wednesday, September 4th at 1:30pm Eastern Time. The presentation will be broadcast live through a link on the Investors page of the Air Lease website and can also be accessed directly via a provided webcast link.

Interested parties are advised to visit the website beforehand to register and install any necessary audio software. Any materials used for the presentation will be posted in advance on the ALC website's Investors section. Air Lease , based in Los Angeles, is a leading global aircraft leasing company that provides customized aircraft leasing and financing solutions to airline customers worldwide.

Air Lease (NYSE: AL) has delivered the first of ten new Boeing 787-10 aircraft to Korean Air. This delivery marks the beginning of a significant fleet expansion for the Korean flag carrier, strengthening its relationship with ALC. The 787-10 will serve as part of Korean Air's flagship fleet, operating on key global routes. John L. Plueger, CEO of ALC, expressed excitement about supporting Korean Air's growth, while Walter Cho, Chairman and CEO of Korean Air, emphasized the importance of this addition in strengthening their future relationship with ALC.

Currently, ALC has five Boeing aircraft on long-term lease to Korean Air, including two 777-300ERs and three 737-800s. This new delivery further solidifies the partnership between the two companies and enhances Korean Air's fleet with competitive and sustainable aircraft.