Subjects: Contract/Agreement, Sales
Air Lease Corporation Activity Update for the Fourth Quarter of 2019
Today Air Lease Corporation (NYSE: AL) announced an update on activity taking place in the fourth quarter of 2019:
As of December 31, 2019, ALC's fleet was comprised of 292 owned aircraft and 85 managed aircraft with 413 new aircraft on order from Boeing and Airbus through 2026.
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Delivered 11 new aircraft including 2 Airbus A320neos, 7 Airbus A321neos, 1 Airbus A330-900neo, 1 Boeing 787-10 and acquired 1 A330-300 in the secondary market |
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Aircraft investments in the quarter totaled approximately $825 million |
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| Sales | ||||||
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Sold 19 aircraft including 11 aircraft to Thunderbolt Aircraft Lease Limited III and the remainder to other buyers |
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Sales proceeds for the quarter totaled approximately $585 million |
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| Financing | ||||||
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Issued CAD$400 million senior unsecured medium-term notes at a fixed rate of 2.625% |
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| Orders | ||||||
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Pursuant to existing MOUs, entered into agreements with Airbus for 50 A220 aircraft (with purchase options for an additional 25 A220 aircraft), 25 A321neo aircraft and 27 A321neo XLR aircraft, with deliveries of the aircraft scheduled to commence in 2021 and continue through 2026 |
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. 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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