Today Air Lease Corporation (NYSE: AL) announced its owned aircraft fleet has reached 200 aircraft. The milestone was achieved late last week, when Air Lease simultaneously delivered three new aircraft to three different lessees in three international cities on the same day.
On Friday, May 9th, a new Boeing 737-800 was delivered to MIAT Mongolian Airlines in Seattle, Washington; a new Airbus A321 was delivered to Thomas Cook Airlines in Hamburg, Germany; and a new ATR 72-600 was delivered to Golden Myanmar Airways in Toulouse, France. These aircraft were all from ALC’s order book, and are all on long term leases with these airlines.
“We are pleased to announce that ALC has reached another milestone on May 9th by acquiring our 200th aircraft. As we discussed in last week’s first quarter earnings call, ALC has benefited from strong replacement-driven demand for new generation aircraft from our airline customers. We have also enjoyed a lower rate of funding, which resulted in wider profit margins, a more robust balance sheet, and a stronger overall financial profile than originally anticipated. These factors have allowed ALC the flexibility to absorb more aircraft into its fleet at a faster pace than projected at the founding of the company. I am very grateful to our entire ALC team who has delivered these results at a record pace,” said Steven F. Udvar-Hazy, Chairman and CEO of Air Lease Corporation.
Source: Air Lease Corporation
Date: May 12, 2014