World Library  
Flag as Inappropriate
Email this Article

Air Lease Corporation

Article Id: WHEBN0028102295
Reproduction Date:

Title: Air Lease Corporation  
Author: World Heritage Encyclopedia
Language: English
Subject: List of Boeing 737 MAX orders, List of Airbus A320neo family orders, Equinox Fitness, SMBC Aviation Capital, Petco
Publisher: World Heritage Encyclopedia

Air Lease Corporation

Air Lease Corporation
Type Public
Traded as NYSE: AL
Industry Aircraft Leasing
Founded February 2010 (2010-02)
Headquarters Los Angeles, California, USA
Key people
Revenue US$ 336.7 million (2011)[1]
Net income US$$ 53.2 million (2011)[1]
Employees 47 (2011)[1]
Website .com.airleasecorpwww
Air Lease Corporation (ALC) is an American aircraft leasing company founded in 2010 and headed by Steven Udvar-Házy.[2] ALC hopes to capitalize on air travel growth from airlines in high-growth markets such as Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. As of the end of 2010, Air Lease said it owned 40 Airbus and Boeing aircraft and had agreed to buy four used aircraft, within a year, and 144 new aircraft by 2017. The plans were expanded, however, and as of June 2011, the projected order is for 234 more aircraft, to be acquired over the 10-year period from 2011-2021.[3] The airplanes are being ordered from Boeing (BA), Airbus (EADS), Embraer and ATR.


"Airlines in some of these emerging markets have fewer financing alternatives, enabling us to command relatively higher lease rates compared to more mature markets," the company said in the S-1 filing with the U.S. Securities and Exchange Commission. "With our well-established industry contacts and access to capital, we believe we will be able to continue successfully implementing our business strategy worldwide."

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

Steven Udvar-Házy, chairman and chief executive of Air Lease, was a founder of Century City aircraft leasing giant International Lease Finance Corp. and stayed on as chief executive after it was sold to American International Group Inc. in 1990. Udvar-Házy, 64, left ILFC in 2009 following a dispute with AIG, the troubled parent company of ILFC that required a $180-billion government bailout during the financial crisis.

He started Air Lease in February 2010 with former ILFC chief operating officer, John Plueger, who has the same role at the new company. Leonard Green & Partners L.P, Ares Management LLC, and Commonwealth Bank of Australia hold the largest stakes in the company, roughly 10 percent each, according to the filing. Udvar-Hazy, whom the Business Journal last year estimated had a net worth of $1.85 billion, has a 7 percent stake.[4] It was the largest buyer of aircraft at the 2010 Farnborough Air Show, having ordered 136 aircraft valued in excess of US$10 billion, including 31 Airbus A320s, 20 Airbus A321s, 54 Boeing 737-800s and 15 Embraer E-190s, for delivery beginning in 2012.[5][6][7]

Public offering of Class A in April 2011

On April 19, 2011, AL had an initial public offering (IPO) of Class A,[4] on the New York Stock Exchange, and raised an estimated total of about A$922 million (US$965.52 million).[8]


  1. ^ a b c "ALC 2011 Annual Report". 2011-12-31. Retrieved 2012-06-12. 
  2. ^ "Air Lease press release", Air Lease Corp., July 15, 2010, webpage (PDF file): APDF. retrieved July 21, 2010.
  3. ^ "Air Lease CEO Discusses Q2 2011 Results",, August 11, 2011, webpage: SA286: for "balanced future order book of 234 new aircraft".
  4. ^ a b "Air Lease IPO to Target Emerging Markets". Los Angeles Business Journal. January 17, 2011. Retrieved April 19, 2011. 
  5. ^ Rothman, Andrea; Ray, Susanna (July 20, 2010). "Udvar-Hazy Jolts Jet Leasing Out of Credit-Crunch Coma".  
  6. ^ Pearson, David (July 19, 2010). "Air Lease Corp Orders 51 A320 Family Aircraft".  
  7. ^ Clark, Nicola (July 20, 2010). "Leasing Start-Up Is Making Noise at Air Show".  
  8. ^ "AsiaPulse News April 19, 2011 Article Archives", HighBeam Research,, April 19, 2011, webpage: HB409.

External links

  • Official website
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from World eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.