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Air Lease Corporation Activity Update for the First Quarter of 2018

LOS ANGELES, April 05, 2018 (GLOBE NEWSWIRE) -- Today Air Lease Corporation (AL) (“ALC”) announced an update on activity taking place in the first quarter of 2018:

As of March 31, 2018, ALC’s fleet was comprised of 253 owned aircraft and 49 managed aircraft.

Orderbook Deliveries

  • Delivered 4 new aircraft including 2 Boeing 737 MAX 8s, 1 Airbus A321neo and 1 Airbus A350-900

Incremental Aircraft Purchases

  • Purchased and leased 5 used aircraft including 2 Boeing 737-700s, 1 Boeing 737-800 and 2 Airbus A320-200s

Timing of Deliveries and Incremental Aircraft Purchases

  • Majority of the quarter’s aircraft deliveries and incremental purchases occurred in the last two weeks of March
  • Incremental aircraft purchases enabled ALC to meet its capital expenditure target for the quarter

Sales

  • No aircraft sales took place in the first quarter

Orders

  • Signed firm order with Boeing for an additional eight Boeing 737 MAX 8 aircraft to deliver beginning in 2020

Financing

  • Issued $1.25 billion of unsecured senior notes including $550 million of 2.50% unsecured senior notes due 2021 and $700 million of 3.25% unsecured senior notes due 2025

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.

About Air Lease Corporation (AL)
ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world.  ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions.  For more information, visit ALC's website at www.airleasecorp.com.

Investors:
Mary Liz DePalma
Assistant Vice President, Investor Relations
Email: mdepalma@airleasecorp.com
Media:
Laura Woeste
Manager, Media and Investor Relations
Email: lwoeste@airleasecorp.com