Air Lease Q1 Earnings Surge 49% on Higher Revenues



Air Lease reported Q1/13 revenues and net income of $192 million and $40 million, respectively, up 45% and 49% from $133 million and $27 million reported for the same three months a year earlier.

Air Lease said it acquired seven aircraft (including five aircraft from our order book and two incremental aircraft), growing its fleet to 162 aircraft spread across a diverse and balanced customer base of 71 airlines in 41 countries. The company said its aggregate fleet net book value was $6.57 billion at the end of Q1/13, up from $6.25 billion a year earlier.

“The results of our first quarter reflect ALC’s strong core leasing business that continues to yield attractive lease and operating margins. Asia/Pacific has now surpassed Europe as ALC’s largest region as measured by percentage of net book value of our fleet. We see this trend continuing. We see further pockets of opportunity emerging with quality airlines in the Middle East, Africa and Latin America. Our overall lease placements are tracking as expected, including placement of our recently announced orders, and we have no significant customer credit concerns,” said John L. Plueger, president and chief operating officer of Air Lease.

To read the Air Lease news release click here.


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