Showing posts with label ALC. Show all posts
Showing posts with label ALC. Show all posts

Wednesday, 1 June 2022

Air Lease Corporation has leased three new Airbus A321neo aircraft with LATAM Airlines

Today Air Lease Corporation announced long-term lease placements for three new Airbus A321neo aircraft with LATAM Airlines.  The aircraft are scheduled to deliver to LATAM in the summer and fall of 2023 from ALC’s order book with Airbus. 

“We are pleased to announce the long-term leases of three new Airbus A321neo aircraft to the largest airline in South America: LATAM Airlines,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation.  “This is another important step in LATAM’s fleet modernization and network strategy optimization.”

LATAM is Latin America’s leading airline group, with presence in five domestic markets in South America: Brazil, Chile, Colombia, Ecuador and Peru, along with international operations within Latin America and to Europe, US and the Caribbean.  The group operates a fleet including Boeing 787, Airbus A350, A321, A320neo and A319 aircraft, the most modern models of their kind.  LATAM is the only airline group of the Americas and one three in the world to join the Dow Jones Sustainability Index World, where it’s recognized for its sustainable practices, based on three criteria: economics, social and environmental. 




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Friday, 6 May 2022

Air Lease Corporation Announces First Quarter 2022 Results

Air Lease Corporation Announces First Quarter 2022 Results





Air Lease Corporation has just announced its financial results for the three months ended March 31, 2022.

John L. Plueger, Chief Executive Officer and President said: “Industry fundamentals continue to strengthen globally – demand is expanding both for new and young used aircraft, supporting continued 
firming of lease rates and bolstering the value of the existing aircraft in our fleet. We benefited from this improving backdrop during the first quarter. While we wrote-off our Russia exposure, we are vigorously pursuing our insurance coverage and believe we have strong and valid claims,” 




Steven F. Udvar-Házy, Executive Chairman of the Board said:  “With the strengthening market, we are monitoring continued delivery delays from Boeing and Airbus very closely, and will adjust accordingly to take advantage of market opportunities – fostering fleet growth in 2022 and beyond. ALC is well-poised to execute successfully on our strategy as the recovery continues. We are also pleased to report that we have fully completed our $150 million common stock repurchase program,” 



Flight Equipment Portfolio
As of March 31, 2022, the net book value of our fleet decreased to $22.3 billion, compared to $22.9 billion as of December 31, 2021. The decrease is due to the write-off of the net book value of our 21 aircraft that remain in Russia, totalling approximately $791.0 million, partially offset by the delivery of eight new aircraft from our new order pipeline and one aircraft from the secondary market. As of March 31, 2022, we owned 370 aircraft in our aircraft portfolio, comprised of 268 narrowbody aircraft and 102 widebody aircraft, and we managed 87 aircraft. 

The 21 aircraft that remain in Russia have been removed from our owned fleet count. The weighted average fleet age and weighted average remaining lease term of our fleet as of March 31, 2022, was 4.5 years and 7.0 years, respectively. We have a globally diversified customer base of 114 airlines in 60 countries. 


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Wednesday, 27 April 2022

Air Lease Corporation Increases Senior Unsecured Revolving Credit Facility to $7.0 Billion

Air Lease Corporation Increases Senior Unsecured Revolving Credit Facility to $7.0 Billion

Global leasing giant Air Lease Corporation has amended and extended its senior unsecured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent, whereby the company extended the final maturity date of the facility from May 5, 2025, to May 5, 2026, and increased the total revolving commitments to approximately $7.0 billion from $6.8 billion, across 52 financial institutions as of May 5, 2022.  The senior unsecured revolving credit facility accrues interest at adjusted term SOFR plus a margin of 1.05% per year with a 0.20% facility fee, each subject to adjustments based on the company’s credit ratings.

“We are pleased to announce the extension of our senior unsecured revolving credit facility by one year to 2026 and upsize of the facility to $7.0 billion,” said Gregory B. Willis, Executive Vice President and Chief Financial Officer of Air Lease Corporation.  “The success of this facility is reflective of ALC’s investment-grade credit metrics and the strength of our platform, and we appreciate the continued support of our lender group.  This credit facility remains a foundational component of ALC’s funding strategy, providing us with a highly cost-efficient and flexible financing tool to support the continued expansion of our fleet.




Wednesday, 20 April 2022

Aviation Capital Group confirm financing for two Airbus A321neo LR jets for TAP Air Portugal

Aviation Capital Group confirm financing for two Airbus A321neo LR jets for TAP Air Portugal



Aviation Capital Group has confirmed a deal for the financing of two Airbus A321NEOLR aircraft for the national carrier of Portugal, TAP.  

This financing marks the fifth use by ACG’s Aircraft Financing Solutions (“AFS”) program of its $650 million secured funding facility.  This allowed ACG to provide a senior secured loan to TAP and to partner with Novus Aviation Capital, who provided complementary mezzanine financing.  Together, ACG and Novus were able to offer TAP an attractive and comprehensive financing solution.  

 “ACG is grateful to have had the opportunity to work with TAP and Novus on this financing.  We were able to draw upon our established relationship with Novus to effectively meld the senior and junior loans and to provide TAP with timely and efficient financing.  Moreover, we were finally able to bring to fruition ACG’s long-held desire to work with TAP again,” said Andrew Falk, Managing Director of ACG.

Mamoun Kuzbari, Chief Commercial Officer, Novus Aviation Capital said: “We are delighted to complete this transaction with both ACG and TAP, continuing to support an existing airline customer. Not only are we building on our relationship with this additional financing for TAP, but we are also very proud to have a strong foundation with ACG that will allow both parties to collaborate on future opportunities. This debt structure is an attractive value proposition and the combination of asset type and stakeholders involved makes it appealing for both Novus and Tamweel Aviation Finance, one of the industry’s leading mezzanine loan providers.”

Gonçalo Pires, Chief Financial Officer of TAP Air Portugal said: “TAP is very pleased to work with ACG and Novus on this financing and we are very confident that these two additional A321neo LR aircraft that are joining our fleet, already one of the youngest and most efficient in the world, will contribute to the success of our airline,”





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Tuesday, 12 April 2022

Air Lease Corp releases its latest results.....

Today Air Lease Corporation announced an update on aircraft investments, sales, new significant financing, and other activity occurring in the first quarter of 2022.

As of March 31, 2022, ALC’s fleet was comprised of 391 owned aircraft and 93 managed aircraft, with 451 new aircraft on order from Boeing and Airbus set to deliver through 2028.  

Aircraft Investments

  • Delivered eight new aircraft from ALC’s order book including one Airbus A320neo, two Airbus A321neos, one Airbus A330-900neo, three Boeing 737-8s, and one Boeing 737-9
  • Purchased one incremental Boeing 737-800, which was concurrently leased to an ALC customer
  • Aircraft investments in the quarter totalled approximately $490 million

Sales

  • No aircraft sales occurred during the quarter

Financing

  • Issued $1.5 billion of senior unsecured medium-term notes comprised of $750 million of 2.20% senior unsecured medium-term notes due 2027, and $750 million of 2.875% senior unsecured medium-term notes due 2032

 Russia Exposure

  • In March of 2022, we terminated leases for all ALC aircraft on lease to Russian airline customers.  We currently have 21 owned aircraft remaining in Russia, representing approximately 3.4% of our fleet by net book value as of March 31, 2022.



ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world.



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Friday, 8 April 2022

Airbus A330-200 for new UK Sentra Airlines

This week Air Lease Corporation confirmed it will lease a used Airbus A330-200 aircraft to the new UK based start-up airline, focused on niche point-to-point scheduled destinations, Sentra Airways.

This used plane will be the first for the new airline and is scheduled to delivered this summer to the Bradford based airline. The first destination for Sentra is scheduled to be Accra, Ghana, from Manchester, which it hopes to start before the end of the year. More routes will then follow including further African destinations and the USA. The startup is trying to position itself as an "Airline of Choice" for the operational routes served, future alliances,  “Sentra Airways, Your Best Value Airline.”        
    
“Sentra Airways is delighted to have finally reached this significant milestone,” said Ishmael Musah, Chairman and Accountable Manager of Sentra Airways. Bruce Fenton, Executive Director of Sentra Airways also commented: “We would like to express our thanks to ALC for being our lease partner for the first Sentra Airways A330-200. We look forward to further collaborations with ALC and completing the regulatory approvals to gain our UK AOC certification later this year.” 
    
“ALC is pleased to announce this lease placement for one A330-200 with Sentra Airways,” said Lauren Kervick, Assistant Vice President of Marketing of Air Lease Corporation.  “Sentra has an exciting growth and business plan operating from the UK to West Africa, and we look forward to growing our relationship over the coming years.”

          







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Tuesday, 22 February 2022

Corendon Airlines Group to get Boeing 737 MAX jets from Air Lease Corporation


Aircraft leasing giants Air Lease Corporation has confirmed the placement of nine new Boeing 737 Aircraft with the Corendon Airlines Group.

The deal includes five new 737-MAX 8 aircraft to be delivered this year to Corendon Airlines (Turkey) and one new 737 MAX 8 delivered next year.  Corendon Airlines Group will lease three new 737MAX 9 aircraft that are scheduled to deliver to the airline starting in the first half of 2023.  

“ALC is a major lessor to the Corendon Airlines Group with three operating airlines in the Netherlands, Malta and Turkey, and we are pleased to announce these lease placements today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “These nine new Boeing 737 aircraft offer the most modern, fuel-efficient new technology that will greatly enhance Corendon’s overall fleet operations and passenger experience.”

“We appreciate and thank ALC for the long-time cooperation and fleet support,” said Yildiray Karaer, Chairman of the Corendon Group.





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Friday, 18 February 2022

Air Lease Corporation Announces Fourth Quarter & Fiscal Year 2021 Results

John L. Plueger, Chief Executive Officer and President of leasing giant Air Lease Corporation: “We had a strong fourth quarter and second half of 2021 that benefited from continuing airline industry recovery, as seen in our cash collections, operating metrics, fleet expansion, and record lease placements. We resumed our aircraft sales program and concluded the largest aircraft order in ALC’s history to support the growing demand we are seeing in the marketplace,” 

Air Lease Corporation announces financial results for the three months and year ended December 31, 2021.


“We are witnessing strengthening lease rates overall across the spectrum of new and used aircraft, including improvement in widebody lease rates being positively influenced by the exceptional strength in the freight market. Reflecting continued confidence in our future and profitability, our Board of Directors has approved a $150 million common share repurchase authorization, in addition to our 37th consecutive quarterly dividend,” said Steven F. Udvar-Házy, Executive Chairman of the Board.

Highlights


Finalized agreements with Airbus to purchase a total of 116 aircraft, including 59 A321neos, 25 A220-300s, 20 A321XLRs, seven A350Fs and five A330-900s. This represented the largest individual order for new aircraft in our Company's history.
In February 2022, we agreed to purchase from Boeing 50 737 MAX aircraft, consisting of 32 incremental 737 MAX aircraft and 18 737 MAX aircraft resulting from the conversion of three 787 aircraft. Deliveries of the aircraft are scheduled to commence in 2024 and continue through 2026.
Issued $3.7 billion of senior unsecured medium-term notes in 2021 with a weighted average interest rate of 1.27% and ended the year with total liquidity(1) of $7.9 billion.
Took delivery of 15 aircraft from our order book during the fourth quarter, representing $1.2 billion in aircraft investments. As of December 31, 2021, we had 382 aircraft in our owned fleet, with a net book value of $22.9 billion, a weighted average age of 4.4 years and a weighted average lease term remaining of 7.2 years.
Placed 99% of our contracted orderbook positions on long-term leases for aircraft delivering through the end of 2023 and have placed 58% of our entire orderbook.
Ended the year with $30.9 billion in committed minimum future rental payments consisting of $14.8 billion in contracted minimum rental payments on the aircraft in our existing fleet and $16.1 billion in minimum future rental payments related to aircraft on order.
Collection rate(2) for the three and twelve months ended December 31, 2021 was 99.3% and 91.4%, respectively. This contributed to the 26.3% increase in our operating cash flow for the year ended December 31, 2021.
Lease utilization rate(3) for the three and twelve months ended December 31, 2021 was 99.8%.
On February 15, 2022, our board of directors authorized a share repurchase program of up to $150.0 million of our Class A common stock. The program expires on September 30, 2022.
On February 15, 2022, our board of directors declared a quarterly cash dividend of $0.185 per share on our outstanding common stock. The dividend will be paid on April 7, 2022 to holders of record of our common stock as of March 18, 2022.

Monday, 14 February 2022

Air Lease Corporation Announces leases 25 Boeing MAX jets to Malaysia Aviation Group


Air Lease Corporation has announced the long-term lease placements for 25 new Boeing 737 MAX 8 aircraft with Malaysia Aviation Group (MAG), parent company of Malaysia Airlines Berhad (MAB). The aircraft are scheduled to deliver to the airline starting in early 2023 through the beginning of 2026 from ALC’s orderbook with Boeing.

“ALC is pleased to announce this significant deal for 25 new 737-8 aircraft with MAG,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “These 25 new Boeing aircraft will help grow Malaysia Airlines’ expanding route network and improve operations and the efficiency of the airline’s fleet.”

Izham Ismail, Group Chief Executive Officer of MAG said: “After a detailed tender process in the last quarter, we are pleased to appoint ALC as the aircraft lessor for our Boeing 737-8 fleet. This exercise is tied to the restructured terms of our existing orderbook with Boeing. We are happy to have in ALC, a partner who is committed to be part of our future endeavors as outlined in our Long-Term Business Plan 2.0 ('LTBP2.0'). The 737-8 is key to LTBP2.0 with its superior product offerings and better fleet performance which includes amongst others, improved fuel efficiencies of up to 15%. This aligns well with our sustainability journey, whilst also enabling MAB with greater flexibility and agility to implement our future network strategies.”

In addition to these 25 Boeing aircraft, Malaysia Airlines currently has six Airbus A350-900 aircraft on long-term lease from ALC.




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Tuesday, 30 November 2021

Air Lease Corporation Announces Delivery of First of Six New Airbus A321-200neo Aircraft to China Airlines

Air Lease Corporation Announces Delivery of First of Six New Airbus A321-200neo Aircraft to China Airlines


Air Lease Corporation announced the delivery of one new Airbus A321-200neo aircraft on long-term lease to China Airlines.  Featuring Pratt & Whitney PW1133G-JM engines, this is the first of six new A321-200neos confirmed to deliver to the airline from ALC’s order book with Airbus.  This aircraft is the first A321neo to deliver to China Airlines.

“ALC is honoured to be the first to introduce the A321neo to our long-time customer China Airlines.  The A321neo will become the backbone of China Airlines’ single-aisle fleet, providing fleet expansion and modernization, and elevation of their passenger experience to new levels.  The greater fuel efficiency and operating flexibility of the A321neo will also maximize profitability and further China Airlines environmental sustainability goals,” said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation.  





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