Air Lease Sells Five Aircraft in Third Quarter of 2019

Air Lease Corporation released an update on its activity for the third quarter of 2019. As of September 30, 2019, ALC’s fleet was comprised of 307 owned aircraft and 64 managed aircraft. ALC also has commitments to acquire a total of 318 new aircraft for delivery from Boeing and Airbus through 2024.

Other Q3 highlights include:

  • Delivered 15 new aircraft including 2 Airbus A320neos, 6 Airbus A321neos, 1 Airbus A330-900neo, 1 Airbus A350-900, 2 Boeing 787-9s and 3 Boeing 787-10s
  • Aircraft investments in the quarter totaled approximately $1.5 billion
  • Completed the sale of five aircraft to a third-party buyer for sales proceeds of approximately $184 million
  • Issued $1.1 billion in senior unsecured medium-term notes comprised of $600 million due 2023 at a fixed rate of 2.25% and $500 million due 2029 at a fixed rate of 3.25%

Based in Los Angeles, ALC is an aircraft leasing company that has airline customers throughout the world. It is principally engaged in purchasing commercial aircraft and leasing them to its customers through customized aircraft leasing and financing solutions.

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