Air Lease has reported record results for its fourth-quarter and full-year earnings.
For the quarter, the lessor's revenues were up 15.1% to $820.4 million. Revenue growth outpaced operating expense growth, which was up 3.7% to $593.9 million.
Rental of flight equipment revenue for the quarter was up 6% to $860 million, which was largely driven by the lessor's continued growth of its fleet by net book value as well as an increase in portfolio lease yield.
Gain on aircraft sales, trading and other income was up 90% to $141 million due to higher sales activity in the quarter, including a $132 million in gains from the sale of 23 aircraft.
As a result of the strong revenue result, Air Lease's net income for the quarter was up 83.7% to $169.9 million.
For the full year, the company's net income nearly tripled from $372.1 million in 2024 to $1bn in 2025.
This was a result of strong revenues, which were up 10.3% to $3bn. This outpaced the 8.3% growth in expenses, which totalled $2.4bn. The company recovered a total of $736.4 million in insurance related to the Russia-Ukraine conflict in 2025.
Aircraft sales, trading and other revenues for the year increased by 35% to $331 million.