Air Lease reports another consecutive quarter of fleet, revenue and profitability growth:

Highlights from the Air Lease news release:

• Revenues increased 28% to $243 million for the three months ended December 31, 2013 compared to $190 million for the same period in 2012. Revenues increased 31% to $859 million for the year ended December 31, 2013 compared to $656 million the previous year.
• Income before taxes increased 48% to $91 million with a pretax margin of 37% for the three months ended December 31, 2013 compared to income before taxes of $61 million with a pretax margin of 32% for same three months in 2012.
• Income before taxes increased 44% to $293 million with a pretax margin of 34% for the year ended December 31, 2013 compared to income before taxes of $204 million with a pretax margin of 31% for the previous year.
• As of December 31, 2013, Air Lease owned 193 aircraft in its operating lease portfolio and leased the aircraft to a globally diversified customer base of 79 airlines in 47 countries. During the fiscal year ended December 31, 2013, the ALC delivered 34 aircraft from its new order pipeline, plus six incremental aircraft acquired in the secondary market.

“ALC grew all of its key operating metrics in 2013. We punctuated the year by recording the Company’s highest pretax operating margin to date of 37.3% in the fourth quarter. Our fleet remains very young with long leases attached to a globally diversified group of airlines, which strongly enhances the Company’s credit profile. Another year of global traffic growth over 5% has generated strong demand for our future aircraft deliveries and positions the Company very well to continue to help airlines modernize aging aircraft fleets,” said Steven F. Udvár-Hazy, chairman and chief executive officer of ALC. “Our fleet of aircraft continues to be 100% leased with a stable portfolio lease rate factor and our customers are performing well overall”, Udvar-Hazy added.

To read the entire Air Lease news release, click here.