Air Lease Reports Record Profitability, Fleet Growth



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:

  • As of December 31, 2014, Air Lease owned 213 aircraft in its operating lease portfolio and leased the aircraft to a globally diversified customer base of 77 airlines in 46 countries.
  • Income before taxes increased 35% to $395 million with a pretax profit margin of 38% for the year ended December 31, 2014 compared to income before taxes of $293 million with a pretax profit margin of 34% for the year ended December 31, 2013.
  • Air Lease’s flight equipment operating lease portfolio at YE/2014 was $8.95 billion, up 17.6% from $7.61 billion at YE/2013.
  • Full year 2014 investment in flight equipment under operating leases was $1.57 billion, up 18% from $1.33 billion a year earlier.

“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.


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com