Air Lease Corporation announces Q2 2016 results

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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.