Here are the 10-K annual reports from Air Lease Corporation (AL) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow AL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AL filings page.
Sumisho Air Lease Corporation, formerly Air Lease Corporation, filed an amendment to its annual report to add governance, director and executive compensation details that were previously expected to appear in a proxy statement. This follows its April 8, 2026 merger, after which the company became an indirect subsidiary of Sumisho Air Lease Corporation Designated Activity Company.
At the merger’s effective time, each outstanding share of Class A common stock was converted into the right to receive $65.00 in cash per share, subject to withholding taxes. The filing describes the replacement of the prior board with three new director‑executives, changes to committee structures, and updated bylaws.
The amendment provides extensive disclosure on 2025 named executive officer pay, including salaries, annual bonuses tied to revenue and adjusted net income before income taxes, and performance‑based and time‑based RSUs. It also outlines stock ownership guidelines, an expanded clawback policy, anti‑hedging and anti‑pledging rules, and the treatment of equity awards and severance around the merger.
Air Lease Corporation reports strong 2025 results and details its planned sale. Total revenues rose 10.3% to $3.0 billion, driven by fleet growth, higher lease yields and more aircraft sales. Net income attributable to common stockholders jumped to $1.0 billion, or $9.29 per diluted share, helped by a $736.4 million net benefit from insurance settlements on aircraft detained in Russia.
The company ended 2025 with 490 owned aircraft and fleet net book value of $29.1 billion, plus $28.9 billion of committed minimum future rental payments. Liquidity was $7.5 billion against $19.9 billion of largely unsecured debt at a 4.15% composite cost of funds. Air Lease has 218 aircraft on order with $12.6 billion of commitments and high placement levels into 2031.
Air Lease has agreed to be acquired for $65.00 in cash per Class A share by a consortium-backed parent, with closing anticipated in the first half of 2026, subject to customary conditions. The merger will transfer the company’s orderbook and related future lease rentals after closing to SMBC Aviation Capital, and imposes interim restrictions on new debt, asset sales and aircraft orders.