Overview of Air Lease Corporation's Activities in Q3 2024
Air Lease Corporation (NYSE: AL), headquartered in Los Angeles, is pleased to announce its recent aircraft investment and financing activities occurring in the third quarter of 2024.
Aircraft Fleet Expansion
As of September 30, 2024, Air Lease Corporation maintained an impressive fleet that includes 485 owned aircraft alongside 64 managed aircraft. Additionally, the company has 287 new aircraft on order from industry leaders Airbus and Boeing, with expected deliveries stretching through 2029.
Key Deliveries
During this quarter, ALC successfully delivered 20 new aircraft from its substantial orderbook. The breakdown of these deliveries includes:
- Three Airbus A220s
- Six Airbus A321neos
- Three Airbus A330-900neos
- Two Airbus A350-900s
- Two Boeing 737-8s
- One Boeing 787-9
- Three Boeing 787-10s
Investment Highlights
In terms of financial investment, ALC's total aircraft investments for the quarter reached approximately $1.9 billion, showcasing the company's commitment to expanding its operational capabilities.
Aircraft Sales Performance
This quarter also saw significant movement in aircraft sales. ALC completed the sale of nine aircraft to various third-party buyers, resulting in aircraft sales proceeds totaling around $340 million. These transactions reflect ALC's proactive strategy in managing its portfolio to ensure continued growth in a competitive market.
Progress in Financing Activities
In line with its growth initiatives, Air Lease Corporation issued $300 million in 6.00% fixed-rate reset non-cumulative perpetual preferred stock, Series D. This funding effort not only strengthens ALC's capital position but also supports ongoing investments in expanding its fleet.
Company Background
Air Lease Corporation is a major player in the global aircraft leasing sector, providing vital services to airline customers around the world. Committed to delivering customized aircraft leasing and financing solutions, ALC's team of dedicated professionals works diligently to ensure the success of its clients by leasing new commercial aircraft that meet their operational needs.
Engagement with Investors
Investors looking for updates on Air Lease Corporation’s performance and strategic vision are encouraged to regularly consult the company’s website. Important information regarding the company's financial health and operational strategies is routinely posted in the “Investors” section.
Frequently Asked Questions
What is Air Lease Corporation?
Air Lease Corporation (NYSE: AL) is a global aircraft leasing company that focuses on acquiring new commercial aircraft and leasing them to airlines.
How many aircraft does ALC own and manage?
As of September 30, 2024, ALC owns 485 aircraft and manages 64 more.
What are the recent deliveries by Air Lease Corporation?
In Q3 2024, ALC delivered 20 new aircraft, including several Airbus and Boeing models.
How much did ALC invest in aircraft during the last quarter?
For Q3 2024, ALC’s total aircraft investments were approximately $1.9 billion.
What was ALC’s financial activity in this quarter?
ALC issued $300 million of fixed-rate reset non-cumulative preferred stock as part of its financing activities.
