Air Lease Completed $900MM in Aircraft Investments in Q1/24

Air Lease delivered 14 new aircraft from its order book in Q1/24, including two Airbus A220s, one Airbus A320neo, six Airbus A321neos, one Airbus A350-1000 and four Boeing 737-8s. In addition, the company reported approximately $900 million in aircraft investments in the quarter, with the majority occurring in the second half of the quarter.

During Q1/24, Air Lease also sold five aircraft to third-party buyers, with aircraft sales proceeds for the quarter totaling approximately $240 million.

In terms of financing in the quarter, Air Lease:

  • Issued $500 million of 5.1% senior unsecured medium-term notes due 2029
  • Issued C$400 million ($294.87 million) of 5.4% senior unsecured medium-term notes due 2028
  • Issued €600 million ($651.68 million) of 3.7% senior unsecured medium-term notes due 2030

As of March 31, Air Lease’s fleet was comprised of 472 owned aircraft and 73 managed aircraft, with 320 new aircraft on order from Boeing and Airbus set to deliver through 2028.

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Terry Mulreany
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