15-May-2012 12:23 PM

Air Lease Corporation reports strong results in 1Q2012

Air Lease Corporation revenue up 140% - financial highlights for three months ended 31-Mar-2012:

  • Revenue: USD132.6 million, +140.1% year-on-year;
  • Profit before tax: USD41.6 million, +745%;
  • Net profit: USD26.9 million, +748%;
  • Fleet: 114 aircraft, took delivery of 12 aircraft in 1Q2012;
    • A319/A320/A321: 34;
    • A330: 14;
    • Boeing 737: 38;
    • 767: 3;
    • 777: 5;
    • Embraer E175/190: 16;
    • ATR 72-600: 4;
  • Total assets: USD6287 million, +21.7% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: USD803.3 million, +185% when compared to period ended 31-Dec-2011;
  • Total liabilities: USD4075 million, +36.4% when compared to period ended 31-Dec-2011. [more – original PR]

Air Lease Corp: “ALC saw demand holding up for new aircraft lease placements in the 2013 - 2015 delivery time frame, particularly in Asia. Global passenger traffic continued to grow, which partially offset the higher fuel costs that drove lower airline financial performance during the first quarter. Our forward lease placements have been balanced across airlines with strong credit quality and competitive operating strategies,” Steven Udvar-Házy, chairman and CEO. Source: Company statement, 14-May-2012.

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