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Air Lease Corporation announces record first quarter 2016 results

May 06, 2016

LOS ANGELES, CA - Air Lease Corporation announced record quarterly financial results for the three months ended March 31, 2016. Items of note include:

• Generated record quarterly adjusted diluted EPS of $1.38 for the three months ended March 31, 2016, an increase of 34.0% as compared to $1.03 for the three months ended March 31, 2015.

• Generated record quarterly revenues of $343.3 million for the three months ended March 31, 2016, an increase of 23.4% or $65.0 million as compared to $278.3 million for the three months ended March 31, 2015.

• Generated record quarterly adjusted net income of $151.1 million with an adjusted margin of 44.4% for the three months ended March 31, 2016 as compared to $112.8 million with an adjusted margin of 40.5% for the three months ended March 31, 2015.

• Placed 85% of our order book on long-term leases for aircraft delivering through 2018. Maintained 100% utilization of our current fleet with only 10% of our leases due to expire over the next three years.

• Purchased $731.6 million in aircraft during the quarter, including 10 aircraft from our order book and one incremental aircraft.

• Sold $221.5 million in aircraft, comprised of 12 ATR aircraft, during the three months ended March 31, 2016. Expect to complete the sale of our existing ATR fleet during the next quarter and to sell at delivery the remaining five ATR aircraft from our order book over the next two quarters.

• Completed a senior unsecured notes offering in April 2016, issuing $600 million at 3.375%, maturing in 2021.

• Declared a quarterly cash dividend of $0.05 per share on our outstanding common stock to be paid on July 7, 2016, to holders of record of our common stock as of June 13, 2016.

Air Lease Corporation announces record first quarter 2016 results



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