ALC SHARES CLOSE UP ON FIRST DAY OF TRADING

ALC’s IPO sold 30.3 million Class A shares, 5.3 million more than anticipated, at the midpoint of its $25-to-$28 price range. JP Morgan and Credit Suisse managed the offering. ALC has 46 commercial aircraft on its books, which Udvar-Hazy plans to plans increase to 100 aircraft by the end of the year. The lessor has orders out for 153 more new aircraft and 10 used ones. ALC is still a fledgling business and since its inception in February 2010 to the end of the year, it booked total revenue of $58 million and made a net loss of $52 million.