Air Lease Corporation Activity Update for the First Quarter of 2019
LOS ANGELES--(BUSINESS WIRE)--Apr 8, 2019--Today Air Lease Corporation (NYSE: AL; “ALC”) announced an update on activity taking place in the first quarter of 2019:
As of March 31, 2019, ALC’s fleet was comprised of 280 owned aircraft and 65 managed aircraft, with commitments to acquire a total of 361 new aircraft for delivery through 2024.
Order book Deliveries – We delivered 11 new aircraft
- Our aircraft deliveries included (2) Airbus A320neos, (3) Airbus A321neos, (1) Airbus A330-900neo, (1) Airbus A350-900, (1) Boeing 737 MAX 8, and (3) Boeing 787-9s, representing approximately $1 billion in aircraft investments
- Approximately $0.4 billion of deliveries expected for the first quarter were delayed, primarily due to Airbus delivery delays, as well as the temporary delivery suspension of the Boeing 737 MAX
- The majority of order book deliveries occurred throughout the second half of the quarter
Sales – We sold six aircraft
- We completed the sale of four aircraft to our managed vehicles, including three aircraft to Thunderbolt Aircraft Lease Limited II, one to Blackbird Capital II, LLC, and two aircraft to third party buyers.
- Issued $700 million of 4.25% senior unsecured medium term notes due 2024
- Issued $250 million of 6.15% fixed-to-floating non-cumulative perpetual series A preferred stock
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. 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)
ALC is a leading 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 commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC’s website at www.airleasecorp.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190408005260/en/
Mary Liz DePalma
Assistant Vice President, Investor Relations
Assistant Vice President, Finance
Manager, Media and Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TRANSPORT AIR OTHER TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT
SOURCE: Air Lease Corporation
Copyright Business Wire 2019.
PUB: 04/08/2019 06:31 AM/DISC: 04/08/2019 06:31 AM