Thursday, 9 April 2020

Air Lease Corporation reports its first quarter highlights



Air Lease Corporation announced an update on deliveries, sales and new significant financing occurring in the first quarter of 2020.

As of March 31, 2020, ALC’s fleet was comprised of 301 owned aircraft in its operating fleet and 82 managed aircraft with 399 new aircraft on order from Boeing and Airbus set to deliver through 2026.

Deliveries

Delivered 8 new aircraft including 2 Airbus A320neos, 4 Airbus A321neos, 2 Boeing 787-10s, and acquired 1 A330-300 in the secondary market
Aircraft investments in the quarter totalled approximately $700 million
The majority of this quarter’s order book deliveries occurred in the second half of the quarter
Sales

Sold 3 aircraft to Thunderbolt Aircraft Lease Limited III
Sales proceeds for the quarter totalled approximately $65 million
Financing

Issued $1.4 billion of senior unsecured medium-term notes comprised of $750.0 million due 2025 at a fixed rate of 2.30% and $650.0 million due 2030 at a fixed rate of 3.00%
Upsized senior unsecured revolving credit facility to $6.1 billion from $5.8 billion

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