Air Lease Corporation reports increased revenues for third quarter 2018

Air Lease Corporation has announcesd financial results for the three and nine months ended September 30, 2018. Revenue was US$451 million for the three months ended September 30, 2018, an increase of 19.6% and U$1.2 billion for the nine months ended September 30, 2018, an increase of 10.0%.

Air Lease Corporation took delivery of seven aircraft from its order book representing US$682 million in capital expenditures, ending the quarter with US$15.1 billion in aircraft with a weighted average age of 3.8 years and a weighted average lease term remaining of 6.8 years. The company sold 10 aircraft to Thunderbolt II Aircraft Lease Limited during the quarter for sales proceeds of US$244 million.

Air Lease Corporation ended the quarter with its aircraft order book 96% placed through 2019 and 82% placed through 2020 on long term leases and ended the quarter with US$24.1 billion in committed minimum future rental payments consisting of US$11.4 billion in contracted minimum rental payments on the aircraft in its existing fleet and US$12.7 billion in minimum future rental payments related to aircraft on order.

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