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Leasing companies are enjoying increased interest for their new and used aircraft as a boom in global travel demand has seen more airlines opting for their services amid delivery delays from plane manufacturers Boeing (NYSE:BA) Co and Airbus SE (OTC:EADSY).
“We expect to see continued growth and strength in global air traffic and airline yields in 2023, offering a counterbalance to global macroeconomic cross-currents,” said Steven Udvar-Házy, Executive Chairman of the Board.
Udvar-Házy added Air Lease does not see delivery delays at Boeing and Airbus abating.
Shares of Air Lease were up about 2.8% in extended trade, after the company reported a fourth-quarter revenue of $601.6 million, compared with analyst estimates of $587.3 million.
The company reported an adjusted profit of $1.42 per share for the quarter ended Dec. 31, compared with analysts’ average expectations of $1.01 per share.
