Air Lease Corporation released an update on its activity in the second quarter of 2019. Highlights included aircraft investments of $1.6 billion, approximately $0.3 billion less than previously anticipated given delays from Airbus and Boeing.
As of June 30, 2019, ALC’s fleet was comprised of 297 owned aircraft and 64 managed aircraft, with commitments to acquire a total of 345 new aircraft for delivery through 2024.
Other highlights from Q2/2019 included:
The delivery of 16 new aircraft, including one Airbus A320neo, six Airbus A321neos, four Airbus A330-900neos, two Airbus A350-900s, and three Boeing 787-9s
The delivery of one used A330-300 purchased in the secondary market
The issuance of $750 million in 3.750% senior unsecured medium-term notes due 2026
The issuance of $300 million in floating rate senior unsecured medium-notes at LIBOR plus 0.67% due 2021
Based in Los Angeles, Air Lease Corporation is an aircraft leasing company that has airline customers throughout the world. ALC is principally engaged in purchasing commercial aircraft and leasing them to its airline customers through customized aircraft leasing and financing solutions.
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