Air Lease (AL) Makes Aircraft Investments Worth $800 M in Q3
Air Lease (AL) delivers 16 new jets from its order book in the September quarter.
While announcing the update on aircraft investments, sales and new significant financing made by the company during the third quarter of 2021, Air Lease AL management stated that it spent
roughly $800 million during the period. Most investments were made during the second half of the quarter. However, no sale of aircraft was made by the currently Zacks Rank #3 (Hold) company, in the July-Sep period.
While elaborating on aircraft investments during the three-month period, Air Lease stated that it delivered 16 new jets from its order book. The deliveries included one Airbus A320neo, six Airbus A321neos, seven Boeing 737-8s and two Boeing 737-9s. As of Sep 30, 2021, the company’s fleet included 370 owned aircraft and 89 managed aircraft with 320 new aircraft on order from Boeing and Airbus set to deliver through 2027.
On the finance front, Air Lease issued $1.1 billion of senior unsecured medium-term notes, which included $600 million of 0.8% senior unsecured medium-term notes due 2024 and $500 million of 2.10% senior unsecured medium-term notes due 2028.
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