AL - Air Lease updates on 1Q22 activity

Air Lease (NYSE:AL) updated on aircraft investments ~$490M, with no aircraft sales during the quarter. The company delivered eight new aircraft from ALC’s order book including one Airbus A320neo, two Airbus A321neos, one Airbus A330-900neo, three Boeing 737-8s, and one Boeing 737-9. The company purchased one incremental Boeing 737-800, which was concurrently leased to an ALC customer. The company raised $1.5B via debt offering. As of March 31, 2022, ALC’s fleet was comprised of 391 owned aircraft and 93 managed aircraft, with 451 new aircraft on order from Boeing and Airbus set to deliver through 2028. Russia Exposure: In March 2022, the company terminated leases for all ALC aircraft on lease to Russian airline customers and currently have 21 owned aircraft remaining in Russia, representing approximately 3.4% of the company's fleet by net book value as of March 31, 2022.

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Air Lease updates on 1Q22 activity