Air Lease Corporation reports over $630 million in Q1 revenue

Air Lease Corporation reported a $118.3 million first-quarter 2023 (Q1 2023) profit and $636.1 million in revenue, the latter a 6% increase year-on-year “primarily driven by the continued growth in our fleet”. The Q1 2023 net income was a 500%+ increase on the Q1 2022 net loss of almost $480 million, the lessor reported, and amounted to $1.06 per diluted share. The increase “was due to the growth of our fleet and the effect of the write-off of our Russian fleet in the first quarter of 2022”, ALC reported, but was “partially offset by an increase in interest expense due