Air Lease Corp reports 1Q2017 financials, sees slowing new aircraft orders as 'healthy' for industry

Air Lease Corporation reported (04-May-2017) the following financial highlights for three months ended 31-Mar-2017:

• Total revenue: USD360.2 million, +4.9% year-on-year;
  • Rental of flight equipment: USD354.7 million, +11.8%;
  • Aircraft sales, trading and other: USD5.5 million, -78.8%;
• Total costs: USD226.3 million, +13.5%;
• Net profit: USD84.9 million, -8.5%;
• Total assets: USD14,477 million;
• Cash and cash equivalents: USD155.8 million;
• Total liabilities: USD11,018 million. [more - original PR]

Air Lease Corporation: "Throughout the quarter, we saw solid lease demand under attractive terms including robust placements of both our new generation single-aisle and twin-aisle aircraft. We also continue to see demand from buyers of our used Boeing and Airbus aircraft. We view the slowing of new aircraft orders as healthy for the industry in the face of record backlogs and ongoing strain in the global supply chain," Steven Udvar-Házy, Chairman. Source: Company statement, 04-May-2017.