Air Lease Corporation expects collection rate to remain under pressure because of COVID-19

Air Lease Corporation (ALC) reported (22-Feb-2021) an 88% lease collection rate for both 4Q2020 and full year 2020. ALC expects its collection rate will remain under pressure because of COVID-19. As a result of the lower collection rate, USD21.1 million of rental revenue was not recognised in 4Q2020 and USD49.4 million was unrealised for full year 2020. Aircraft on lease with these lessees represented approximately 7.8% of ALC's fleet by net book. Lease utilisation rate for 4Q2020 was 99.8% and 99.6% for the full year 2020. [more - original PR]