ALC chairman on consolidation: 'It's a lot easier to buy distressed assets' than companies

Air Lease Corporation (ALC) chairman Steven Udvar-Hazy, speaking on the CAPA Masterclass: Air finance outlook and beyond COVID-19, said (15-Jul-2020) it is "too early to comment" on consolidation within the leasing industry. He mentioned that the company would be more inclined to invest in assets rather than entire companies, adding: "It's a lot easier to buy distressed assets than entire companies... that we don't need". He concluded that the company has USD7 billion in undrawn credit facilities with "very strong cash flow" and is in a "very good position" to buy assets if the opportunity arises.