Air Lease reported Q2/16 record revenues of $350.1 million, up 14.9% from $304.7 million in Q2/15. Net income was $91.8 million, up 20.6%, with a pre-tax margin of 40.6% for Q2/16 compared to $76.1 million with a pre-tax margin of 38.8% for Q2/15.
The following highlights were excerpted from the Air Lease news release:
“We had another strong quarter, with our business continuing to deliver record revenues and strong results. Our customers continue to perform well. The sale of our ATR and E-jet fleet to NAC is progressing on track. Demand for our used aircraft remains robust. We remain watchful of OEM and airline capacity discipline, and we look forward to any and all opportunities that may arise,” said John L. Plueger, CEO and president.
“Airlines continue to take long term views about traffic flows and fleet modernization. It has always been the case that some airlines have over-ordered and some have under-ordered. We balance this landscape by shifting jets across the global marketplace. Our strong and diverse customer base, best in class fleet of aircraft, and conservative financial structure, will serve us well in an ever evolving marketplace,” said Steven F. Udvar-Házy, executive chairman of the board.
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