Welcome to our dedicated page for Air Lease news (Ticker: AL), a resource for investors and traders seeking the latest updates and insights on Air Lease stock.
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.
Track key announcements including quarterly earnings, new aircraft acquisitions, and global leasing agreements. Our curated collection ensures you stay informed about fleet management innovations and market expansion initiatives without promotional bias.
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Bookmark this page for streamlined access to Air Lease Corp's latest business developments. Check regularly for real-time updates that impact aviation leasing markets and investment considerations.
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.
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.
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