ALC reports busy first quarter of 2019

Lauren Eldershaw
By Lauren Eldershaw April 9, 2019 14:46

ALC reports busy first quarter of 2019

As of March 31, 2019, Air Lease Corporation’s (ALC) fleet was comprised of 280 owned aircraft and 65 managed aircraft, with commitments to acquire a total of 361 new aircraft for delivery through 2024.

ALC’s first quarter aircraft deliveries included two A320neos, three A321neos, one A330-900neo, one A350-900, one 737 MAX 8, and three 787-9s, representing approximately $1 billion in aircraft investments

ALC reports that approximately $400 million of deliveries expected for the first quarter were delayed, primarily due to Airbus delivery delays, as well as the temporary delivery suspension of the Boeing 737 MAX. The majority of order book deliveries occurred throughout the second half of the quarter

During the reporting period, ALC completed the sale of four aircraft to its managed vehicles, including three aircraft to Thunderbolt Aircraft Lease Limited II, one to Blackbird Capital II, LLC, and two aircraft to third party buyers.

ALC issued $700 million of 4.25% senior unsecured medium term notes due 2024 and $250 million of 6.15% fixed-to-floating non-cumulative perpetual series A preferred stock, during the first quarter of 2019

Lauren Eldershaw
By Lauren Eldershaw April 9, 2019 14:46