Air Lease Corp (ALC) has revealed that its revenues for the second quarter of 2019 stood at $471 million, up 18.5%.
Overall, ALC has posted revenue of $937 million in its first six months results ended June 30.
During the second quarter, ALC took delivery of 16 aircraft from its order book and one aircraft from the secondary market during the quarter, representing approximately $1.6 billion in aircraft investments.
The firm ended the quarter with an operating portfolio net book value of $17.8 billion with a weighted average age of 3.7 years and a weighted average lease term remaining of 7.2 years.
ALC placed 97% of its order book on long-term leases for aircraft delivering through 2020 and 77% through 2021.
In June 2019, ALC entered into memorandums of understanding with Airbus to launch the A321 XLR aircraft and to order the A220 aircraft.
Through these MOUs, ALC has the right to purchase 27 A321 XLR aircraft, 23 A321neo aircraft and 50 A220 aircraft, and has options for an additional 25 A220 aircraft.
In addition, it entered into an MOU with Boeing to convert existing purchase orders of 15 737 Max aircraft to five 787-9 aircraft.