During Q1/21, Air Lease delivered 10 new aircraft from its order book, including one Airbus A320neo, four Airbus A321neos, four Boeing 737-8s and one Boeing 787-9. Aircraft investments in the quarter totaled approximately $600 million, with the majority occurring in the second half of the quarter. Air Lease did not make any aircraft sales during the quarter.

As of March 31, Air Lease’s fleet was comprised of 342 owned aircraft and 83 managed aircraft, with 349 new aircraft on order from Boeing and Airbus set to deliver through 2027.

Air Lease issued $750 million of 0.7% senior unsecured medium-term notes due 2024 and $300 million of 4.65% fixed-rate reset non-cumulative perpetual series B preferred stock during the quarter. In addition, on April 7, Air Lease’s long-term rating from S&P was affirmed at BBB and its outlook was changed to stable from negative.