Air Lease Corp’s Q1 net profit up 30% on robust growth
Air Lease Corp. earned a 2018 Q1 net income of $110.6m, up 30.3% compared to $84.9m in the 2017 1Q. Revenues were up 5.8% year-over-year to $381.2m. The California-based lessor credited the continuing robust growth of the global airline industry, despite continuing technical problems on several of the industry’s main engine types, for the positive results. “We had another strong quarter of growth in revenues and earnings per share,” ALC CEO and president John Plueger reported. “We were also able to add nine aircraft to our industry-leading fleet and eight planes for future delivery. Global passenger growth remains strong, as do our financial metrics and forward lease placements.” “The airline industry continues to perform well, with IATA forecasting another year of global industry profits in excess of $30 billion,” executive chairman Steven Udvar-Házy added. “Supply chain delays and engine technical issues continue to have a short-term impact on new aircraft deliveries. As such, we continue to source aircraft opportunistically,” he said.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-05-14/general/air-lease-corp2019s-q1-net-profit-up-30-on-robust-growth
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Air Lease Corp’s Q1 net profit up 30% on robust growth
Air Lease Corp. earned a 2018 Q1 net income of $110.6m, up 30.3% compared to $84.9m in the 2017 1Q. Revenues were up 5.8% year-over-year to $381.2m. The California-based lessor credited the continuing robust growth of the global airline industry, despite continuing technical problems on several of the industry’s main engine types, for the positive results. “We had another strong quarter of growth in revenues and earnings per share,” ALC CEO and president John Plueger reported. “We were also able to add nine aircraft to our industry-leading fleet and eight planes for future delivery. Global passenger growth remains strong, as do our financial metrics and forward lease placements.” “The airline industry continues to perform well, with IATA forecasting another year of global industry profits in excess of $30 billion,” executive chairman Steven Udvar-Házy added. “Supply chain delays and engine technical issues continue to have a short-term impact on new aircraft deliveries. As such, we continue to source aircraft opportunistically,” he said.<br/>
