Today Air Lease Corporation (NYSE:AL) (“ALC”) announced an update on activity taking place in the first quarter of 2018:

As of March 31, 2018, ALC’s fleet was comprised of 253 owned aircraft and 49 managed aircraft.

Orderbook Deliveries

  • Delivered 4 new aircraft including 2 Boeing 737 MAX 8s, 1 Airbus A321neo and 1 Airbus A350-900

Incremental Aircraft Purchases

  • Purchased and leased 5 used aircraft including 2 Boeing 737-700s, 1 Boeing 737-800 and 2 Airbus A320-200s

Timing of Deliveries and Incremental Aircraft Purchases

  • Majority of the quarter’s aircraft deliveries and incremental purchases occurred in the last two weeks of March
  • Incremental aircraft purchases enabled ALC to meet its capital expenditure target for the quarter

Sales

  • No aircraft sales took place in the first quarter

Orders

  • Signed firm order with Boeing for an additional eight Boeing 737 MAX 8 aircraft to deliver beginning in 2020

Financing

  • Issued $1.25 billion of unsecured senior notes including $550 million of 2.50% unsecured senior notes due 2021 and $700 million of 3.25% unsecured senior notes due 2025
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