Air Lease Corporation has reported a fourth quarter 2024 net profit of $92.5 million or $0.83 per diluted share on a year-over-year decrease in revenue of 3.7 percent to $712.9 million. At December 31, 2024, the company had $8.1 billion in total available liquidity.
On Thursday (February 13, 2025), Air Lease Corporation (ALC) announced their financial results for the fourth quarter and full year for the period ending December 31, 2024. The company reported a fourth quarter net profit of $92.5 million or $0.83 per diluted share on a 3.7 percent decline in revenue to $712.9 million. For the full year 2024, Air Lease reported a net profit of $372.1 million or $3.33 peer diluted share on a 1.8 percent increase in revenue compared to FY2023 to $2.73 billion. At December 31, 2024, ALC had a total of $8.1 billion in liquidity.
In Thursday’s announcement, Air Lease Corporation’s President and CEO, John L. Plueger, and the company’s Executive Chairman, Steven F. Udvar-Házy, said,
“ALC generated record revenues in 2024, driven by our $5 billion in aircraft purchases from our orderbook, and $1.7 billion in aircraft sales. Looking forward, we expect lease rates and aircraft valuations to rise, supporting the value of our business. We remain optimistic about the ongoing benefits of these trends, given aircraft shortages are anticipated to persist for several years to come.”
ALC's Fourth Quarter and Full Year 2024 Financial Results - Courtesy Air Lease Corporation
During the fourth quarter, ALC took delivery of 18 aircraft from their orderbook, representing an investment of approximately $1.3 billion, ending the period with 489 aircraft in the owned or managed fleet, and over $32 billion in total assets. The company also sold 14 aircraft during the fourth quarter, netting $544 million in sales proceeds. ALC has placed 100 percent and 85 percent of their expected orderbook on long-term leases for aircraft delivering through the end of 2026 and 2027 respectively, while 62 percent of their entire orderbook delivering through 2029 has been placed. At December 31, 2024, ALC had $29.5 billion in committed minimum future rental payments with $18.3 billion in contracted minimum payments on aircraft in their existing fleet, and $11.2 billion in minimum future rental payments related aircraft which will be delivered between 2025 and 2029.
Based in Los Angeles, California, Air Lease Corporation (NYSE: AL) is a leading global aircraft leasing company. The ALC team is principally involved in the purchase of commercial aircraft and leasing them to airlines worldwide with customized leasing and financing solutions. At December 31, 2024, the company had a globally diversified customer base of 116 airlines across 58 countries.
Source: Air Lease Corporation