Los Angeles, California. 12 April 2021. Air Lease Corporation announced an update on aircraft investments, sales and new significant financing occurring in the first quarter of 2021 as well as recent ratings updates.
As of March 31, 2021, ALC’s fleet was comprised of 342 owned aircraft and 83 managed aircraft, with 349 new aircraft on order from Boeing and Airbus set to deliver through 2027.
Aircraft Investments
- Delivered ten new aircraft from ALC’s order book including one Airbus A320neo, four Airbus A321neos, four Boeing 737-8s and one Boeing 787-9
- Aircraft investments in the quarter totaled approximately $600 million with the majority occurring in the second half of the quarter
Sales
- No aircraft sales occurred during the quarter
Financing
- Issued $750 million of 0.70% senior unsecured medium-term notes due 2024
- Issued $300 million of 4.65% fixed-rate reset non-cumulative perpetual series B preferred stock
Ratings
- On April 7, 2021, ALC’s long-term rating from S&P was affirmed at BBB and outlook changed to Stable from Negative
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Some or all of the results anticipated by these forward-looking statements are unknown at this time, including the ultimate impact of the COVID-19 pandemic on our results, prospects and opportunities. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.
