Air Lease Corporation First Quarter 2024: New Aircraft, Sales, and Financing Overview Unveiled

Tuesday, April 9, 2024

Today, Air Lease Corporation provided an overview of its aircraft investments, sales, and significant financing activities during the first quarter of 2024.

As of March 31, 2024, ALC’s fleet comprised 472 aircraft under ownership and 73 under management. Additionally, the company had placed orders for 320 new aircraft from Boeing and Airbus, set to be delivered by 2028.

Aircraft Investments:

• Acquired a total of 14 fresh aircraft from ALC’s inventory, comprising two Airbus A220s, one Airbus A320neo, six Airbus A321neos, one Airbus A350-1000, and four Boeing 737-8s.
• Total aircraft investments for the quarter amounted to approximately $900 million, with the majority occurring in the latter part of the quarter.

Sales:

• Five aircraft were sold to third-party buyers, resulting in proceeds of around $240 million for the quarter.

Financing:

• Released $500 million worth of senior unsecured medium-term notes maturing in 2029, bearing an interest rate of 5.10%.
• Launched C$400 million in senior unsecured medium-term notes maturing in 2028, carrying an interest rate of 5.40%.
• Introduced €600 million of senior unsecured medium-term notes maturing in 2030, with an interest rate of 3.70%.

Forward-Looking Statements:

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements reflect ALC’s current expectations and projections regarding its future results, prospects, and opportunities. However, they are not guarantees of future performance and will only be updated as required by law. Actual results and performance may differ significantly from those expressed or anticipated in these forward-looking statements due to various factors, including those detailed in ALC’s filings with the Securities and Exchange Commission.

« Back to Page

• Air Lease Corp Boosts Credit Facility, Extends Maturity to 2028 Increases Commitments By 5%

• Air Lease Corporation Sets Date for Q1 2024 Financial Results Conference Call

• Air Lease Corporation Completes €600 Million Senior Unsecured Medium-Term Notes Offering

• Air Lease to Boost Fleet Expansion and Debt Repayment through €600M Senior Notes Sale

• Air Lease Corporation to Deliver Two Additional A321neo Aircraft to Transavia in 2025 and 2026