Air Lease Corporation

Air Lease Corporation
Public
Traded as NYSE: AL (Class A)
Russell 1000 Component
Industry Aircraft Leasing
Founded February 2010 (2010-02)
Headquarters Los Angeles, California, US
Key people
[1]
Revenue US$ 1.5 billion (2017)[2]
US$ 756 million (2017)[2]
Number of employees
 87 (as of 31 December 2017)[2]
Website www.airleasecorp.com

Air Lease Corporation (ALC) is an American aircraft leasing company founded in 2010 and headed by Steven Udvar-Házy.[1] Air Lease purchases new commercial aircraft through direct orders from Boeing, Airbus, Embraer and ATR, and leases them to its airline customers worldwide through specialized aircraft leasing and financing.

As of the end of 2017, Air Lease reported that it owns 244 Airbus, Boeing, Embraer, and ATR aircraft, which it leases to over 91 airlines across 55 countries in every major geographical region in the world.[2]

Air Lease provides airlines with net operating leases, which require the lessee to pay for maintenance, insurance, taxes and all other aircraft operating expenses during the lease term. [2]

As of August 2018, Air Lease owns 271 aircraft, 38.9% of which are Boeing 737-800s, and had 391 aircraft on order.[3]

History

Steven Udvar-Házy, chairman and chief executive of Air Lease, was a founder of Century City aircraft leasing giant International Lease Finance Corp. (ILFC) and stayed on as chief executive after it was sold to American International Group (AIG) in 1990.[4] Udvar-Házy left ILFC to start Air Lease in 2010 following a dispute with AIG.[5]

Udvar-Házy started Air Lease in February 2010 with former ILFC chief operating officer John Plueger, who has the same role at the new company. On April 19, 2011, AL had an initial public offering of Class A stock on the New York Stock Exchange, and raised an estimated total of US$ 965.6 million.[6] Udvar-Hazy, estimated by Forbes in 2015 to have a net worth of $3.7 billion, has a 7 percent stake.[7]

References

  1. 1 2 "Bloomberg profile". Bloomberg.com. Retrieved 20 May 2015.
  2. 1 2 3 4 5 "Annual report" (PDF).
  3. ↑ "Air Lease Corporation Announces Second Quarter 2018 Results" (PDF).
  4. ↑ Leslie Wayne (10 May 2007). "The Real Owner of All Those Planes". The New York Times. NYTimes.com. Retrieved 2007-05-10.
  5. ↑ Seth Lubove (2012-10-04). "Jet-Lease Billionaire Udvar-Hazy Takes On AIG Hand That Fed Him". Bloomberg Business. Retrieved 20 May 2015.
  6. ↑ "Air Lease IPO to Target Emerging Markets". Los Angeles Business Journal. January 17, 2011. Retrieved April 19, 2011.
  7. ↑ "Steven Udvar-Hazy". Forbes-World's Billionaires. forbes.com. 9 March 2011. Retrieved 2011-04-27.
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