Information about the company Air Lease Corp AL reported a lower-than-expected quarterly profit on Monday as the company had to make higher interest payments on loans to finance aircraft purchases.
The California-based company’s results have increased in recent quarters due to the supply of aircraft from the world’s two major aircraft manufacturers, Boeing. 
B.A and Airbus 
ATTENTION limited mainly due to parts and labor shortages.
However, Air Lease’s interest payments rose 19.8 percent to $181.6 million in the first quarter as the Federal Reserve kept interest rates high to curb inflation.
As a result, earnings per share came in at 87 cents, below analysts’ average expectation of 91 cents, according to LSEG data.
Air Lease’s first-quarter revenue rose 4.3 percent to $663.3 million, but missed expectations of $677.2 million.
However, the developer remained optimistic about the demand for aircraft.
“With the tight supply of aircraft and increasing values, we are benefiting from continued fleet expansion and sales activity in a continued positive business environment. We expect this environment to continue in the short-term period to medium term,” Air Lease said in a statement.
2024-05-06 20:46:05
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