Air Lease reported another consecutive quarter of record fleet, revenue and profitability growth. The aircraft lessor said revenue and net income for the full year 2014 was $1.05 billion and $256.0 million, respectively was up 22% and 35% from $858.7 million and $190.4 million a year earlier.
Air Lease also noted Q4/14 revenue and net income of $285.9 million and $70.1 million, respectively was up 18% and 19% from $242.9 million and $58.8 million in Q4/13.
The following highlights were excerpted from the news release:
“Air Lease Corporation concluded 2014 by generating over $1 billion in annual revenue for the very first time. At the same time, we delivered record profitability with a 38% pre-tax profit margin. Air Lease is now celebrating its fifth birthday as a company and we are pleased with the consistency of our financial and operating results since inception. ALC’s business prospects look strong as the demand for our new technology aircraft remains robust,” said Steven F. Udvar-Házy, chairman and chief executive officer of Air Lease.
“Global passenger traffic grew 5.9% in 2014, continuing the strong global trends which underpin the need for aircraft. The market is healthy for new aircraft and we see a great deal of interest in the used market as well. We seized on opportunities during the quarter, recording gains of $20 million on sales, trading and other activity. We kicked off 2015 by issuing a $600 million seven year senior unsecured investment grade bond, with a fixed interest rate of 3.75%. This issuance continues our trend of raising attractively priced long dated financing and enhancing our investment grade credit profile,” said John L. Plueger, president and chief operating officer of Air Lease.
To view the full Air Lease news release, click here.
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