Air Lease announced its Q3/16 net income of $93.3 million was up 21.1% from $77.0 million in the same year ago quarter on record revenues of $355.1 million. Year-to-date net income of $277.9 million was up 61% from $172.5 million a year earlier.
The following highlights were excerpted from the news release:
John L. Plueger, CEO and president of Air Lease said, “Our business continues its strong performance with our adjusted pre-tax return on equity increasing to 19% this quarter, the highest in our company’s history. S&S has recognized our growing strength by recently upgrading us from BBB- to BBB. Demand for our delivery positions remains solid; in particular we see no slowing of lease appetite globally, and our twin-aisle placements have kept pace with our single-aisle placements. The sales program of our ATR and E-jet fleet to NAC is on track. We continue to see steady demand from buyers for our other aircraft.”
Steven F. Udvar-Hazy, executive chairman of the board, said, “ALC’s forward global lease placement activity has never been stronger and we are building a formidable and industry leading portfolio of long term contracted lease revenues, to deliver strong and predictable business growth well into the next decade.”
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!