Submit Press release  · eTN Team ·  Advertising  ·  eTN Awards  - Worldtourism Events    


Air Lease Corporation announces Q2 2016 results

Aug 05, 2016

LOS ANGELES, CA - Air Lease Corporation (ALC) announced quarterly financial results for the three and six months ended June 30, 2016. Items of note include:

Generated quarterly diluted EPS of $0.84 for the three months ended June 30, 2016, an increase of 20.0% compared to the three months ended June 30, 2015. Generated quarterly adjusted diluted EPS before income taxes of $1.39 for the three months ended June 30, 2016, an increase of 16.8% compared to the three months ended June 30, 2015.

• Generated record quarterly revenues of $350.1 million for the three months ended June 30, 2016, an increase of 14.9% as compared to $304.7 million for the three months ended June 30, 2015.

• Generated quarterly net income of $91.8 million with a pre-tax margin of 40.6% for the three months ended June 30, 2016 as compared to $76.1 million with a pre-tax margin of 38.8% for the three months ended June 30, 2015. Generated quarterly adjusted net income before income taxes of $152.2 million with an adjusted margin of 43.7% for the three months ended June 30, 2016 as compared to $130.4 million with an adjusted margin of 42.8% for the three months ended June 30, 2015.

• Placed 91% of our order book on long-term leases for aircraft delivering through 2018 and 80% through 2019.

• Purchased $897.4 million in aircraft during the quarter, including 13 aircraft from our order book and three incremental aircraft.

• Entered into an agreement to sell 25 Embraer E190 and E175 aircraft to Nordic Aviation Capital A/S ("NAC") and expect the sale of the aircraft to be completed by the first quarter of 2017.

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

• Completed an amendment to our Syndicated Unsecured Revolving Credit Facility increasing the capacity by approximately $350 million to $3.1 billion and extending the final maturity to May 2020 with an interest rate of LIBOR plus 1.25%.

• Declared a quarterly cash dividend of $0.05 per share on our outstanding common stock to be paid on October 6, 2016, to holders of record of our common stock as of September 12, 2016.

Air Lease Corporation announces Q2 2016 results



Premium Partners