Air Lease Corporation activity update for first quarter of 2020

Air Lease Corporation (ALC) has announced an update on deliveries, sales and new significant financing occurring in the first quarter of 2020.

As of March 31, 2020, ALC’s fleet was comprised of 301 owned aircraft in its operating fleet and 82 managed aircraft with 399 new aircraft on order from Boeing and Airbus set to deliver through 2026.

During the first quarter, ALC delivered eight new aircraft including two Airbus A320neos, four Airbus A321neos, two Boeing 787-10s, and acquired one Airbus A330-300 in the secondary market. Aircraft investments in the quarter totaled approximately US$700 million.

The company has sold three aircraft to Thunderbolt Aircraft Lease Limited III during the quarter. Sales proceeds for the quarter totaled approximately US$65 million.

ALC issued US$1.4 billion of senior unsecured medium-term notes comprised of US$750.0 million due 2025 at a fixed rate of 2.30% and US$650.0 million, due 2030, at a fixed rate of 3.00%. The company upsized its senior unsecured revolving credit facility to US$6.1 billion from US$5.8 billion.

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