Air Lease Corp reports USD3m net profit in 1Q2011

Air Lease Corp reported (16-May-2011) the following financial highlights for the three months ended 31-Mar-2011:

• Revenue: USD55.2 million, n/a year-on-year;
  • Rental of flight equipment: USD54.6 million;
• Profit before tax: USD4.9 million, compared with a loss of USD477,000 for the period from its launch to 31-Mar-2010;
• Net profit: USD3.2 million, compared with a loss of USD477,000 for the period from its launch to 31-Mar-2010;
• Total assets: USD2789 million, +22.5% when compared to period ended 31-Dec-2010;
• Cash and cash equivalents: USD230.3 million, -30.0% when compared with the period ended 31-Dec-2010;
• Total liabilities: USD1550 million, +47.4% when compared with the period ended 31-Dec-2010. [more]