LOS ANGELES, March 13, 2020 – Air Lease Corporation (NYSE: AL) has noted a report by Bloomberg News regarding the planned utilization of its senior unsecured revolving credit facility (the “revolver”). Air Lease Corporation 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. The Company sees no current need to fully draw down on the revolver due to our strong liquidity position. 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, Executive Vice President and Chief Financial Officer of Air Lease Corporation.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including information about the Company’s liquidity position. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.
About Air Lease Corporation (NYSE: AL)
ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. ALC routinely posts information that may be important to investors in the “Investors” section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.