LOS ANGELES, March 13, 2020 – Air Lease Corporation (NYSE: AL) has noted a report by Bloomberg News regarding the planned utilization of its senior unsecured revolving credit facility (the “revolver”). Air Lease Corporation currently has no utilization on its revolver, and as we have done in the past, we will utilize the revolver in the normal course of business. The Company sees no current need to fully draw down on the revolver due to our strong liquidity position. The Company has a substantial amount of liquidity including over $6.0 billion in unutilized lines of credit and cash, $20 billion in unencumbered assets and is below its debt to equity target of 2.5x.
“Air Lease Corporation has maintained a strong balance sheet and robust liquidity, and we believe we are well positioned to manage the current market environment,” said Gregory B. Willis, Executive Vice President and Chief Financial Officer of Air Lease Corporation.