ALC reports Q1 2021 results

Air Lease Corporation (ALC) has reported a 7.1% fall in revenue during the first quarter of 2021 to $474.8 million compared to the three months ended March 31, 2020. ALC stated that despite the continued growth of its fleet, revenues decreased “as a result of the full quarter impact of the COVID-19 pandemic, which only partially impacted the first three months of 2020 when the pandemic began”. Also, during the three months ended March 31, 2021, ALC adds that it was not able to recognize $48.7 million of rental revenue “because lease receivables exceeded the lease security package held and