Air Lease delivered four new aircraft including two Boeing 737 MAX 8s, an Airbus A321neo and an Airbus A350-900 in Q1/18. As of March 31, 2018, Air Lease’s fleet was comprised of 253 owned aircraft and 49 managed aircraft. Air Lease also purchased and leased five used aircraft including two Boeing 737-700s, a Boeing 737-800 and two Airbus A320-200s.

The majority of the quarter’s aircraft deliveries and incremental purchases occurred in the last two weeks of March. Incremental aircraft purchases enabled Air Lease to meet its capital expenditure target for the quarter.

Although no aircraft sales took place in the quarter, Air Lease did sign firm order with Boeing for an additional eight Boeing 737 MAX 8 aircraft to deliver beginning in 2020. It also issued $1.25 billion of unsecured senior notes including $550 million of 2.50% unsecured senior notes due 2021 and $700 million of 3.25% unsecured senior notes due 2025.