Air Lease Corporation (ALC) executive chairman Steven Udvar-Hazy will retire on May 2, 2025, leaving behind a lasting legacy as the pioneer of the aviation leasing industry.
Udvar-Hazy — who founded ALC in 2010 — will continue to serve on the company's board as non-executive chairman until the 2026 annual shareholders meeting.
“The aviation industry has been my passion since a young age, and it has been incredible to see how far we have come,” said Udvar-Hazy. "I am very proud of the success we have achieved since founding ALC over 15 years ago and the role we have played in supporting airline customers around the world.
Air Lease CEO and president John Plueger commented: “Steve’s invaluable knowledge and customer-centric ethos is deeply embedded within our company – and his devotion to all things aviation, along with his inherent drive to deliver operational excellence permeates our culture.”
“John and the dedicated leadership team will continue to build on our strong foundation and support our airline and OEM partners,” continued Udvar-Hazy. "I am very confident in the long-term strength of the business, and ALC is well positioned to capture the meaningful opportunities ahead to deliver for our customers and create value for stockholders.”
After starting an airline consulting business early in his 60 year career, he cofounded International Lease Finance Corp (ILFC) in 1973. ILFC was acquired by AIG in 1990, but was still run by the aviation legend up until his retirement in 2010.
After founding Air Lease, he served as chairman and CEO until 2016 where he subsequently became executive chairman.