Air Lease Tops Q3 Earnings On Growth In Fleet & Sales Activity, Boosts Dividend By 5%

Air Lease Tops Q3 Earnings On Growth In Fleet & Sales Activity, Boosts Dividend By 5%

Grand News Network / November 6, 2023 4:45 PM

Air Lease Corp (NYSE: AL) reported Q3 FY23 revenue of 17.5% Y/Y to $659.4 million, beating the consensus of $657.7 million

Revenue was driven by the continued growth in the fleet and increased sales activity. 

The company witnessed increased aircraft sales, trading, and other revenue led by the sale of eight aircraft and one sales-type lease transaction, which generated about $43.9 million in gains.

The company took delivery of eight aircraft from its order book in Q3, representing aircraft investments worth around $450 million, ending the period with around $30 billion in total assets. 

AL divested eight aircraft for about $350 million in sales proceeds in the quarter.

As of September 30, 2023, the net book value ...

Full story available on Benzinga.com


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