Air Lease reports Q3 2018 revenue of USD 451m

Air Lease Corporation (ALC) (NYSE: AL) has announced that in the third quarter 2018, revenues were USD 451m, an increase of 19.6%, the company said.

Diluted earnings per share were USD 1.32 for the three months ended September 30, 2018, an increase of 46.7%.

Adjusted diluted earnings per share before income taxes were USD 1.73 for the three months ended September 30, 2018, an increase of 15.3%.

The company took delivery of seven aircraft, representing USD 682 million in capital expenditures, ending the quarter with USD 15.1 billion in aircraft with a weighted average age of 3.8 years and a weighted average lease term remaining of 6.8 years.

Air Lease raised USD 1.6 billion in debt financing during the quarter, including issuances of unsecured senior notes of USD 700 million at 3.500% due 2022 and USD 500 million at 4.625% due 2028.

The quarterly cash dividend increased by 30%, from USD 0.10 per share to USD 0.13 per share. The next quarterly dividend of USD 0.13 per share will be paid on January 9, 2019 to holders of record of our Class A common stock as of December 13, 2018.

Air Lease Corporation is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions.