February 13, 2025 04:05 PM Eastern Standard Time

LOS ANGELES--(BUSINESS WIRE)--Air Lease Corporation (ALC) (NYSE: AL) announces financial results for the three months and year ended December 31, 2024.

“ALC generated record revenues in 2024, driven by our $5 billion in aircraft purchases from our orderbook, and $1.7 billion in aircraft sales. Looking forward, we expect lease rates and aircraft valuations to rise, supporting the value of our business. We remain optimistic about the ongoing benefits of these trends, given aircraft shortages are anticipated to persist for several years to come,” said John L. Plueger, Chief Executive Officer and President, and Steven F. Udvar-Házy, Executive Chairman of the Board.

Fourth Quarter and Fiscal Year 2024 Results

The following table summarizes our operating results for the three months and year ended December 31, 2024 and 2023 (in millions, except per share amounts and percentages):

Operating Results

Highlights

• During the fourth quarter, we took delivery of 18 aircraft from our orderbook, representing approximately $1.3 billion in aircraft investments, ending the period with 489 aircraft in our owned fleet and over $32 billion in total assets.
• Sold 14 aircraft during the fourth quarter for $544 million in sales proceeds.
• We have approximately $1.1 billion of aircraft in our sales pipeline¹, which includes approximately $1.0 billion in flight equipment held for sale as of December 31, 2024 and $178 million of aircraft subject to letters of intent.
• We have placed 100% and 85% of our expected orderbook on long-term leases for aircraft delivering through the end of 2026 and 2027, respectively, and have placed approximately 62% of our entire orderbook delivering through 2029.
• We ended the quarter with $29.5 billion in committed minimum future rental payments consisting of $18.3 billion in contracted minimum rental payments on the aircraft in our existing fleet and $11.2 billion in minimum future rental payments related to aircraft which will deliver between 2025 through 2029.
• During the fourth quarter, we raised approximately $1.3 billion in committed debt financings, including a $966.5 million unsecured three-year term loan bearing interest at one-month Term SOFR plus a margin of 1.125% and ended the year with total liquidity of $8.1 billion.
• On February 11, 2025, our board of directors approved our quarterly cash dividend of $0.22 per share on our outstanding Class A common stock. This quarterly dividend of $0.22 per share will be paid on April 7, 2025 to holders of record of our Class A common stock as of March 18, 2025.

About Air Lease Corporation (NYSE: AL)

Air Lease Corporation is a leading global aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. Air Lease Corporation and its team of dedicated and experienced professionals are principally engaged in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. Air Lease Corporation routinely posts information that may be important to investors in the “Investors” section of its website at www.airleasecorp.com. Investors and potential investors are encouraged to consult Air Lease Corporation’s website regularly for important information. The information contained on, or that may be accessed through, Air Lease Corporation’s website is not incorporated by reference into, and is not a part of, this press release.

Contacts

Investors:
Jason Arnold
Vice President, Investor Relations
Email: investors@airleasecorp.com

Media:
Laura Woeste
Senior Manager, Media and Investor Relations
Email: press@airleasecorp.com

Ashley Arnold
Senior Manager, Media and Investor Relations
Email: press@airleasecorp.com