ALC sells first aircraft in Q4

Washington DC
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Air Lease Corporation (ALC) made its first aircraft sale during the fourth quarter, marking the beginning of what it calls an on-going strategy to balance its fleet.

The Los Angeles-based lessor sold an Airbus A320 to an undisclosed buyer during the period, says John Plueger, president and chief operating officer of ALC, during an earnings call on 28 February.

Executives say that ALC will continue to dispose of aircraft in order to keep its fleet balanced by maintaining a low average age but note that the focus will remain on growth, during the call. They say that it will only sell an aircraft if the proceeds are greater than the potential lease payment stream.

ALC also successfully redeployed a Boeing 737-800 that was placed with XL Airways Germany prior to its insolvency in December, says Plueger. He notes that the aircraft has been placed with another customer under a longer-term lease.

The lessor's fleet increased by 13 aircraft for a total of 155 during the quarter.