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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Air Lease Corporation Activity Update for the First Quarter of 2021

April 12, 2021 GMT

LOS ANGELES--(BUSINESS WIRE)--Apr 12, 2021--

Today Air Lease Corporation (NYSE: AL) announced an update on aircraft investments, sales and new significant financing occurring in the first quarter of 2021 as well as recent ratings updates.

As of March 31, 2021, ALC’s fleet was comprised of 342 owned aircraft and 83 managed aircraft, with 349 new aircraft on order from Boeing and Airbus set to deliver through 2027.

Aircraft Investments

  • Delivered ten new aircraft from ALC’s order book including one Airbus A320neo, four Airbus A321neos, four Boeing 737-8s and one Boeing 787-9
  • Aircraft investments in the quarter totaled approximately $600 million with the majority occurring in the second half of the quarter

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Sales

  • No aircraft sales occurred during the quarter

Financing

  • Issued $750 million of 0.70% senior unsecured medium-term notes due 2024
  • Issued $300 million of 4.65% fixed-rate reset non-cumulative perpetual series B preferred stock

Ratings

  • On April 7, 2021, ALC’s long-term rating from S&P was affirmed at BBB and outlook changed to Stable from Negative

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Some or all of the results anticipated by these forward-looking statements are unknown at this time, including the ultimate impact of the COVID-19 pandemic on our results, prospects and opportunities. 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. ALC routinely posts information that may be important to investors in the “Investors” section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20210412005257/en/

CONTACT: Investors:

Mary Liz DePalma

Vice President, Investor Relations

Email:investors@airleasecorp.comJason Arnold

Assistant Vice President, Finance

Email:investors@airleasecorp.comMedia:

Laura Woeste

Senior Manager, Media and Investor Relations

Email:press@airleasecorp.comAshley Arnold

Manager, Media and Investor Relations

Email:press@airleasecorp.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: AIR TRANSPORT AEROSPACE MANUFACTURING TRANSPORTATION TRAVEL

SOURCE: Air Lease Corporation

Copyright Business Wire 2021.

PUB: 04/12/2021 06:31 AM/DISC: 04/12/2021 06:31 AM

http://www.businesswire.com/news/home/20210412005257/en