Air Lease Corporation reported its financial results for the year-to-date and the third quarter of 2019, including quarterly revenue of $531 million, an increase of 17.8%

Other highlights from the quarterly report include:

• $1.5 billion in revenue for the nine months ended September 30, 2019, an increase of 19.4%
• Diluted earnings per share of $1.34 for the three months ended September 30, 2019, an increase of 1.5%, and $3.67 for the nine months ended September 30, 2019, an increase of 9.2%
• Adjusted diluted earnings per share before income taxes: $1.80 for the three months ended September 30, 2019, an increase of 4.0%, and $4.98 for the nine months ended September 30, 2019, an increase of 9.5%
• Pre-tax profit margin of 36.5% for the three months ended September 30, 2019
• Adjusted pre-tax profit margin of 38.4% for the three months ended September 30, 2019
• Return on common equity: pre-tax return on common equity of 14.3% for the trailing twelve months ended September 30, 2019
• Adjusted pre-tax return on common equity of 15.4% for the trailing twelve months ended September 30, 2019
• Took delivery of 15 aircraft from company’s order book during the quarter, representing approximately $1.5 billion in aircraft investments. As of September 30, 2019, ALC’s fleet was comprised of 307 owned aircraft with a net book value of $18.9 billion, with a weighted average age and a weighted average lease term remaining of 3.6 years and 7.2 years, respectively.
• Placed 83% of order book on long-term leases for aircraft delivering through 2021.
• Ended the quarter with $28.7 billion in committed minimum future rental payments consisting of $14.1 billion in contracted minimum rental payments on the aircraft in our existing fleet and $14.6 billion in minimum future rental payments related to aircraft on order.
• On October 31, 2019, ALC initiated a portfolio sale of 19 aircraft to Thunderbolt Aircraft Lease Limited III. The company will continue to manage these aircraft and expects a majority of the aircraft transfers to be completed over the next two quarters.
• Issued $1.1 billion of medium-term notes comprised of (i) $600.0 million due 2023 at a fixed rate of 2.25% and (ii) $500.0 million due 2029 at a fixed rate of 3.25%.
• Increased quarterly cash dividend by approximately 15%, from $0.13 per share to $0.15 per share of our outstanding Class A common stock. The next quarterly dividend of $0.15 per share will be paid on January 6, 2020 to holders of record of Class A common stock as of December 20, 2019.

“Third quarter results reflect continued strength and stability in the underlying performance trends of our business and fundamental demand for our aircraft. All of our aircraft previously leased to Thomas Cook have been profitably placed with new airline customers. Even considering meaningful delays from both Boeing and Airbus, our 25% year-over-year fleet value expansion is significant, and strong growth is expected to continue via our 316 aircraft forward orderbook,” said John L. Plueger, ALC president and CEO.