Air Lease Corporation has rebutted media reports that it is looking to draw on its revolving credit facility.
In a statement the firm said that it, “currently has no utilization on its revolver, and as we have done in the past, we will utilize the revolver in the normal course of business. [AerCap] sees no current need to fully draw down on the revolver due to our strong liquidity position.”
AerCap’s statement said that the Company has a substantial amount of liquidity including over $6.0 billion in unutilized lines of credit and cash, $20 billion in unencumbered assets and is below its debt to equity target of 2.5x.
“Air Lease Corporation has maintained a strong balance sheet and robust liquidity, and we believe we are well positioned to manage the current market environment,” said Gregory B. Willis, chief financial officer of the firm.