Air Lease Corporation reports full year 2016 revenues up 16%

Air Lease Corporation (ALC) reported record financial results for the year and three months ended December 31, 2016. ALC reported revenues of US$1.4bn for the full year 2016, an increase of 16.0% and US$370.5m for the fourth quarter of 2016, an increase of 13.4%. ALC signed agreements for 122 aircraft with 39 customers across 33 countries during the year ended December 31, 2016. The company ended the year with a net book value of US$12.0bn in aircraft with a weighted average age of 3.8 years and a weighted average lease term remaining of 6.9 years. Air lease Corporation placed 92% of its order book on long-term leases for aircraft delivering through 2019. ALC sold 46 aircraft for proceeds of US$1.2bn during the year ended December 31, 2016, including the completion of the sales for all of its remaining ATR aircraft and 20 of its 25 Embraer aircraft to Nordic Aviation Capital.