Air Lease Corporation Q1 2022 Business Update | Business

LOS ANGELES–(BUSINESS WIRE)–April 12, 2022–

Today, Air Lease Corporation (NYSE:AL) announced an update on aircraft investments, sales, significant new financings and other activities occurring in the first quarter of 2022.

As of March 31, 2022, ALC’s fleet consisted of 391 owned aircraft and 93 managed aircraft, with 451 new aircraft on order from Boeing and Airbus expected to be delivered through 2028.

Investments in aircraft

  • Delivery of eight new aircraft from ALC’s order book, including one Airbus A320neo, two Airbus A321neos, one Airbus A330-900neo, three Boeing 737-8s and one Boeing 737-9
  • Purchase of an additional Boeing 737-800, which was concurrently leased to an ALC customer
  • Aircraft investment during the quarter totaled approximately $490 million

Sales

  • No aircraft sales occurred during the quarter

Funding

  • Issuance of $1.5 billion of senior unsecured medium-term notes consisting of $750 million of 2.20% senior unsecured medium-term notes due 2027 and $750 million of medium-term notes 2.875% Senior Unsecured Maturing 2032

Exhibition in Russia

  • In March 2022, we terminated the leases of all ALC aircraft leased to Russian airline customers. We currently have 21 owned aircraft remaining in Russia, representing approximately 3.4% of our fleet in net book value as of March 31, 2022.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These 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, outlook and opportunities. These statements will not be updated except as required by law. Actual results and performance may differ materially from those expressed or anticipated in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

About Air Lease Corporation (NYSE: AL)

ALC is a leading aircraft leasing company based in Los Angeles, California with airlines worldwide. ALC and its team of dedicated and experienced professionals are primarily dedicated to purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. ALC regularly posts information that may be important to investors in the “Investors” section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to periodically check ALC’s website for important information about ALC. Information contained on or accessible through ALC’s website is not incorporated by reference into, and does not form part of, this press release.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220411005976/en/

CONTACT: Investors:

Mary Liz DePalma

Vice President, Investor Relations

Email:[email protected] Arnold

Assistant Vice President, Finance

Email: [email protected] Media:

Laura Woeste

Senior Director, Media and Investor Relations

Email:[email protected] Arnold

Manager, Media and Investor Relations

Email: [email protected]

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

SECTOR KEYWORD: AIR TRANSPORT AERONAUTICAL MANUFACTURING

SOURCE: Air Lease Corporation

Copyright BusinessWire 2022.

PUBLISHED: 04/12/2022 06:31 AM/DISC: 04/12/2022 06:32 AM

http://www.businesswire.com/news/home/20220411005976/en

Copyright BusinessWire 2022.

Luisa D. Fuller