May 8, 2015
Air Lease Corporation announces first quarter 2015 results
Air Lease Corporation (ALC) reported financial results for the three months ended March 31, 2015. Revenues increased 13% to US$278m for the three months ended March 31st, 2015 as compared to US$246m for the three months in 2014. On April 22nd, 2015, the Company settled the litigation with American International Group, and International Lease Finance Corporation resulting in a non-recurring settlement expense of US$72m before taxes. Adjusted diluted EPS increased to $0.61 as compared to $0.57 for the same period in 2014. Adjusted income before taxes increased to US$102m as compared to US$95m in 2014. ALC´s owned fleet increased by 10 aircraft to 223 aircraft and the managed fleet by two aircraft to 19 aircraft as of March 31st, 2015. ALC entered into definitive agreements with Airbus to purchase 57 additional aircraft increasing its order book to 411 aircraft.