About Air Lease

Air Lease Corporation operates as an aircraft leasing company. The company principally engages in purchasing the most modern, fuel-efficient new technology commercial jet aircraft directly from aircraft manufacturers, such as Airbus S.A.S.(Airbus) and The Boeing Company (Boeing), and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. In addition to its leasing activities, the company sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines and other investors. The company also provides fleet management services to investors and owners of aircraft portfolios for a management fee. The company has relationships with over 200 airlines across 70 countries. The company operates its business on a global basis, providing aircraft to airline customers in every major geographical region, including markets, such as Asia Pacific, Europe, the Middle East and Africa, Central America, South America and Mexico, and the U.S. and Canada. In markets, such as the United States and Western Europe, the company’s strategy is to focus on the replacement market as many airlines look to replace aging aircraft with new, modern technology, fuel efficient jet aircraft. In less saturated markets, including parts of Asia, in addition to the replacement market, the company serves customers expanding their fleets. Many of these less saturated markets are experiencing increased demand for passenger airline travel. During the year ended December 31, 2023, the company purchased 71 new aircraft from Airbus and Boeing, and sold 27 aircraft1. The company ended the year with a total of 463 aircraft in its owned fleet. The company’s managed fleet was consisted of 78 aircraft as of December 31, 2023. The company has a globally diversified customer base consisted of 119 airlines in 62 countries as of December 31, 2023. The company continued to maintain a strong lease utilization rate of 99.9% for the year ended December 31, 2023. As of December 31, 2023, the company had commitments to purchase 334 aircraft from Airbus and Boeing for delivery through 2028. The company has placed 100% of its committed orderbook on long-term leases for aircraft delivering through the end of 2025 and has placed approximately 65% of its entire orderbook. The company requires its lessees to comply with the standards of either the U.S. Federal Aviation Administration (FAA) or its equivalent in foreign jurisdictions. Fleet As of December 31, 2023, the company owned 463 aircraft in its aircraft portfolio, consisted of 345 narrowbody aircraft and 118 widebody aircraft. As of December 31, 2023, the weighted average fleet age and weighted average remaining lease term of the company’s fleet was 4.6 years and 7.0 years, respectively. The company had a managed fleet of 78 aircraft as of December 31, 2023. Strategy The company’s strategy is to order new aircraft directly from the manufacturers. The company’s strategy is to maintain a portfolio of young modern aircraft with a widely diversified customer base. In order to achieve this profile, it primarily orders new planes directly from the manufacturers, places them on long-term leases, and sells the aircraft when they near the end of the first third of their expected 25-year economic useful life. Government Regulation The company is subject to the regulatory authority of the U.S. Department of State (the DOS) and the U.S. Department of Commerce (the ‘DOC’) to the extent such authority relates to the export of aircraft for lease and sale to foreign entities and the export of parts to be installed on its aircraft. History Air Lease Corporation was founded in 2010. The company was incorporated in Delaware in 2010.