Air Lease announced Q2/18 revenue of $398 million was up 4.4% from $381 million in the same quarter in 2017. Net income, before adjustments, of $115.2 million in Q2/18 was up 14.2% from $100.9 million a year earlier.
The following highlights were excerpted from the news release:
“We enjoyed another great quarter with revenues and earnings right on track, and we continue to execute our plan to increase capital deployment by adding young aircraft incremental to our order-book deliveries. And, with our order-book 87% placed through 2020 and 66% placed through 2021, we finalized a major order with Boeing for 75 MAX8 plus three B787-9 aircraft. We also launched Thunderbolt II, a uniquely structured and highly successful portfolio sale of 18 aircraft, which priced and closed subsequent to quarter end,” said John L. Plueger, chief executive officer and president.
“With now over $17 billion in total assets, ALC remains committed to its strategy of investing in the youngest, most fuel efficient, and technologically advanced commercial aircraft. We are seeing solid lease demand driven by passenger traffic growth globally and the continued need to replace aging aircraft. The order we placed at the Farnborough Air Show provides us with access to valuable delivery positions through 2024, allowing us to deliver continued growth for our shareholders,” said Steven F. Udvar-Házy, executive chairman of the board.
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