Air Lease Corporation reports first quarterly positive pre-tax income

Air Lease Corporation recorded the first quarterly positive pre-tax income of $4.9 million and net income of $3.2 million and recorded cash flow from operations of $38.5 million for the three months ended March 31, 2011. For the same period, they recorded adjusted net income of $11.7 million and adjusted EBITDA of $45.2 million. Air Lease Corporation signed additional lease placements for aircraft delivering during 2011, 2012 and 2013. As of today, the total lease placements include all of their aircraft to be delivered in 2011, 32 out of 38 aircraft to be delivered in 2012, nine out of 25 aircraft to be delivered in 2013 and one out of 24 aircraft to be delivered in 2014. During the quarter, Air Lease Corporation entered into 21 lease transactions covering 60 aircraft across 18 customers and purchased nine additional aircraft, all of which have been leased.