Air Lease Corporation (ALC) has reported a net profit of $92.8m for Q1 2016, a 380 per cent year-on-year increase.
The Los Angeles-based lessor also achieved record revenues of $343.3m in the three months up to March 31, bettering Q1 2015’s $278.3m revenue total.
During Q1 2016, ALC made $221.5m from the sale of 12 ATR aircraft as the offloading of its turboprop fleet nears completion.
Looking forward, Steven Udvar-Házy, ALC’s chairman and CEO, said: “We see the manufacturers adjusting production rates in line with forward market projections of aircraft demand, which contributes to a healthy long-term balance in the marketplace.”
