ALC SECOND QUARTER RESULTS UP

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By admin August 12, 2011 08:33

ALC SECOND QUARTER RESULTS UP

Air Lease Corporation (ALC) has posted second quarter pre-tax income of $10.9 million and net income of $7.0 million and recorded cash flow from operations of $48.5 million.

“Building on the success of our IPO in April, ALC continued generating growth by significantly increasing our portfolio of aircraft in the second quarter,” said Steven F. Udvar-Hazy, chairman and CEO of ALC. “Despite current volatility in the marketplace, the aviation industry has entered a period of expansion and ALC is capitalizing on opportunities as market conditions evolve.”

“With respect to the recent economic turmoil, credit markets have remained liquid and have had little impact on ALC’s short term borrowing costs thus far,” said John L. Plueger, president and chief operating officer of Air Lease Corporation. “ALC is well capitalized with a strong balance sheet that has a debt to equity ratio less than 1:1. We have ample liquidity to continue our growth trajectory amidst the current market dislocation.”

admin
By admin August 12, 2011 08:33
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