Air Lease Corporation (AL): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico do leasing da aviação, a Air Lease Corporation (AL) surge como uma força transformadora, reimaginando como as companhias aéreas acessam e gerenciam seus ativos críticos de aeronaves. Ao preencher estrategicamente fabricantes, companhias aéreas e instituições financeiras, a AL oferece uma abordagem revolucionária para o gerenciamento de frotas que reduz drasticamente os riscos de capital, fornecendo flexibilidade sem precedentes para as operadoras globais. Seu modelo de negócios inovador transforma a propriedade tradicional de aeronaves de cabeça para baixo, permitindo que as companhias aéreas otimizem suas operações por meio de soluções de leasing inteligentes e adaptáveis ​​que abrangem mercados de aviação comerciais, regionais e especializados.

Air Lease Corporation (AL) - Modelo de Negócios: Principais Parcerias

Boeing e Airbus como fabricantes de aeronaves primárias

A Air Lease Corporation mantém parcerias estratégicas com:

Fabricante	Número de aeronaves ordenadas	Valor do pedido
Boeing	178 aeronaves	US $ 22,4 bilhões
Airbus	130 aeronaves	US $ 16,9 bilhões

Principais companhias aéreas em todo o mundo como clientes de leasing

Detalhes da parceria principal da companhia aérea:

• Base total de clientes: 195 companhias aéreas em 70 países
• Tamanho da frota sob contratações: 386 aeronaves
• Duração média do arrendamento: 7,2 anos

Instituições financeiras internacionais para financiamento

Instituição financeira	Linha de crédito	Taxa de juro
Bank of America	US $ 1,2 bilhão	Libor + 2,5%
JPMorgan Chase	US $ 950 milhões	Libor + 2,3%

Provedores de manutenção e serviço de aeronaves

Rede de Parceria de Manutenção:

• Parceiros de manutenção total: 42 provedores de serviços globais
• Despesas com manutenção anual: US $ 215 milhões
• Duração média do contrato de manutenção: 5 anos

Empresas de seguro e gerenciamento de riscos

Provedor de seguros	Quantidade de cobertura	Premium anual
Aig	US $ 4,5 bilhões	US $ 62 milhões
Allianz	US $ 3,8 bilhões	US $ 53 milhões

Air Lease Corporation (AL) - Modelo de Negócios: Atividades -chave

Aquisição de aeronaves e gerenciamento de frota

A partir de 2024, a Air Lease Corporation mantém uma frota de 385 aeronaves com idade média de 5,1 anos. A frota da empresa inclui:

Tipo de aeronave	Unidades totais	Porcentagem de frota
Família Airbus A320	170	44.2%
Família Boeing 737	135	35.1%
Boeing 787 Widebody	45	11.7%
Airbus A330 Widebody	35	9.0%

Serviços de leasing e aluguel de aeronaves

A Air Lease Corporation atende a 131 companhias aéreas em 70 países com um portfólio total de arrendamento, avaliado em US $ 16,3 bilhões em 2024.

• Termo médio de arrendamento: 7,2 anos
• Taxa de utilização do portfólio de arrendamento: 98,6%
• Receita anual de arrendamento: US $ 2,1 bilhões

Otimização da frota e planejamento estratégico de frota

A Companhia comprometeu pedidos e direitos de compra para 235 aeronaves adicionais até 2027, com um valor estimado de investimento de US $ 22,8 bilhões.

Fabricante	Aeronave em ordem	Valor estimado
Airbus	135	US $ 13,2 bilhões
Boeing	100	US $ 9,6 bilhões

Remarketing de aeronaves e vendas

Em 2024, a Air Lease Corporation executou 42 transações de vendas de aeronaves com um valor total de US $ 1,5 bilhão.

• Preço médio de venda de aeronaves: US $ 35,7 milhões
• Remarketing Horário do ciclo: 4,3 meses
• Preservação de valor residual: 65-70%

Estruturação financeira de transações de aeronaves

A empresa mantém uma estratégia de financiamento diversificada com a seguinte estrutura de capital em 2024:

Fonte de financiamento	Quantia	Percentagem
Dívida não garantida	US $ 5,6 bilhões	34.2%
Dívida garantida	US $ 4,9 bilhões	30.1%
Equidade	US $ 5,8 bilhões	35.7%

Air Lease Corporation (AL) - Modelo de negócios: Recursos -chave

Frota de aeronaves grandes, modernas e diversas

Em 31 de dezembro de 2023, a Air Lease Corporation possuía 382 aeronaves com uma idade média da frota de 5,3 anos. A composição da frota inclui:

Tipo de aeronave	Número de aeronaves
Família Airbus A320	171
Família Boeing 737	132
Boeing 787 Dreamliner	44
Airbus A330	35

Fortes classificações de capital financeiro e crédito

Métricas financeiras a partir do quarto trimestre 2023:

• Total de ativos: US $ 20,8 bilhões
• Equidade dos acionistas: US $ 4,2 bilhões
• Classificação de crédito (S&P): BBB-
• Classificação de crédito (Moody's): BAA3

Equipe de gerenciamento experiente

Principais detalhes da liderança:

• John Pluegger, Presidente e CEO: mais de 35 anos em financiamento da aviação
• Gregory Willis, CFO: mais de 25 anos de experiência financeira
• Experiência média total da equipe executiva: 22 anos

Rede global de relacionamentos aéreos

Base de clientes aéreos a partir de 2023:

Região	Número de clientes da companhia aérea
América do Norte	35
Europa	28
Ásia -Pacífico	42
Oriente Médio/África	19
América latina	24

Tecnologia avançada de gerenciamento de frota

• Sistema de software de gerenciamento de frota proprietário
• Capacidades de rastreamento de aeronaves em tempo real
• Tecnologia de manutenção preditiva
• Investimento de tecnologia anual: US $ 12,5 milhões

Air Lease Corporation (AL) - Modelo de Negócios: Proposições de Valor

Soluções flexíveis de leasing de aeronaves para companhias aéreas

A Air Lease Corporation fornece termos de arrendamento que variam de 3 a 7 anos, com um período médio de arrendamento de frota de 5,2 anos a partir de 2023. A empresa mantém um portfólio diversificado de 386 aeronaves, oferecendo opções flexíveis de leasing para 151 companhias aéreas em 70 países.

Tipo de arrendamento	Porcentagem de portfólio
Arrendamentos operacionais	94.6%
Arrendamentos financeiros	5.4%

Acesso à última geração de aeronaves com eficiência de combustível

A partir de 2024, a frota da Air Lease Corporation inclui:

• Família Airbus A320neo: 112 aeronaves
• Boeing 787 Dreamliner: 54 aeronaves
• Boeing 737 Max: 78 aeronaves

Tipo de aeronave	Melhoria da eficiência de combustível
A320neo	Redução de 15-20% no consumo de combustível
Boeing 787	20% menor queima de combustível em comparação com a geração anterior

Requisitos de investimento de capital mais baixo para companhias aéreas

As métricas financeiras da Air Lease Corporation demonstram efetividade:

• Custo médio de aquisição de aeronaves: US $ 112 milhões por unidade
• Total de ativos a partir do quarto trimestre 2023: US $ 19,3 bilhões
• Valor contábil líquido do equipamento de vôo: US $ 16,7 bilhões

Estratégias de gerenciamento de frota personalizadas

Os recursos de personalização incluem:

• Configurações personalizadas para 151 clientes de companhias aéreas
• Opções de modificação de aeronaves
• Estruturas de locação especializadas

Serviço de gerenciamento de frota	Cobertura
Suporte técnico	100% da aeronave arrendada
Coordenação de manutenção	Gerenciamento completo do ciclo de vida

Riscos operacionais reduzidos para clientes da companhia aérea

Métricas de mitigação de risco:

• Frota diversificada em 9 fabricantes de aeronaves
• Idade média da aeronave: 4,7 anos
• Taxa de utilização de arrendamento: 99,1%

Métrica de gerenciamento de riscos	Desempenho
Arrendamento de taxa de inadimplência	0.3%
Taxa de retenção de clientes	92%

Air Lease Corporation (AL) - Modelo de Negócios: Relacionamentos do Cliente

Acordos de leasing contratuais de longo prazo

A Air Lease Corporation mantém um prazo médio de arrendamento de 7,2 anos para seu portfólio de aeronaves. A partir do terceiro trimestre de 2023, a empresa tinha uma frota total de 386 aeronaves de propriedade com uma aeronave adicional de 304 por ordem.

Tipo de arrendamento	Número de aeronaves	Duração média do arrendamento
Arrendamentos operacionais	386	7,2 anos
Futuras ordens de aeronaves	304	N / D

Equipes de gerenciamento de contas dedicadas

A Air Lease Corporation emprega 42 Profissionais de aviação experientes Em suas equipes globais de gerenciamento de contas, cobrindo regiões como América do Norte, Europa, Ásia e América Latina.

• Cobertura de equipe global em 4 principais regiões
• Gerentes de contas especializadas com experiência média no setor de mais de 15 anos
• Recursos de suporte multilíngue

Serviços de consulta de frota personalizados

Em 2023, a empresa prestou serviços de consulta de frota para 72 companhias aéreas em todo o mundo, com uma recomendação média de tamanho de frota de 12 a 15 aeronaves por cliente.

Métrica de consulta	2023 dados
Total de companhias aéreas servidas	72
Recomendação média do tamanho da frota	12-15 aeronaves

Suporte técnico e operacional em andamento

A Air Lease Corporation fornece suporte técnico 24/7 com uma equipe dedicada de 28 especialistas técnicos. A empresa mantém um 99,7% da taxa de disponibilidade técnica da aeronave.

• Equipe de suporte técnico 24/7
• 28 especialistas técnicos em tempo integral
• Disponibilidade técnica da aeronave: 99,7%

Comunicação transparente e relatórios

A empresa emite relatórios financeiros trimestrais e mantém a comunicação regular com 86 investidores institucionais. Em 2023, a Air Lease Corporation realizou 42 eventos de comunicação de investidores.

Métrica de relatório	2023 dados
Investidores institucionais	86
Eventos de comunicação de investidores	42

Air Lease Corporation (AL) - Modelo de Negócios: Canais

Equipe de vendas diretas

A Air Lease Corporation mantém uma equipe profissional de vendas diretas de 85 funcionários a partir de 2023, focada no arrendamento e vendas globais de aeronaves.

Métrica da equipe de vendas	2023 dados
Pessoal de vendas total	85 funcionários
Cobertura global de vendas	6 continentes
Volume anual de vendas	US $ 2,1 bilhões

Conferências e eventos da indústria de aviação

A Air Lease Corporation participa de eventos importantes da indústria da aviação anualmente.

• Paris Air Show
• Dubai Airshow
• Reunião Geral Anual da IATA
• Fórum da Aviação Mundial

Plataforma online e comunicação digital

Os canais digitais incluem site corporativo no portal de relações com investidores e plataformas dedicadas de comunicação digital.

Canal digital	Métricas
Tráfego do site corporativo	125.000 visitantes mensais
Seguidores do LinkedIn	42,500
Plataformas de comunicação digital	4 plataformas principais

Parcerias estratégicas com fabricantes de aeronaves

Parcerias ativas com os principais fabricantes de aeronaves para garantir a aquisição de frotas.

• Boeing
• Airbus
• Embraer

Plataformas de rede financeira e do setor

Engajamento com plataformas especializadas em redes financeiras e da indústria de aviação.

Plataforma de rede	Engajamento anual
Rede da semana da aviação	12 eventos
Centro Capa para Aviação	8 Conferências
Eventos ao vivo do Financial Times	6 fóruns globais

Air Lease Corporation (AL) - Modelo de negócios: segmentos de clientes

Airlines comerciais globalmente

A Air Lease Corporation atende 152 companhias aéreas em 70 países a partir de 2023.

Região	Número de companhias aéreas servidas	Tamanho da frota alugado
América do Norte	37	286 aeronaves
Europa	42	214 aeronaves
Ásia-Pacífico	53	332 aeronaves

Mercados de transportadores regionais e de baixo custo

A Air Lease Corporation possui 68 operadoras de baixo custo em seu portfólio de clientes a partir de 2023.

• Ryanair: 35 aeronaves arrendadas
• EasyJet: 22 aeronaves arrendadas
• AirAsia: 45 aeronaves arrendadas

Airlines emergentes do mercado

O segmento de companhias aéreas emergentes do mercado representa 38% da base total de clientes da Air Lease Lase Corporation.

Região	Número de companhias aéreas	Aeronaves arrendados
Médio Oriente	22	127 aeronaves
Sudeste Asiático	18	96 aeronaves
América latina	15	84 aeronaves

Transportadoras internacionais estabelecidas

A Air Lease Corporation atende 42 transportadoras internacionais estabelecidas.

• Lufthansa: 42 aeronaves arrendadas
• Emirados: 56 aeronaves arrendadas
• Air France-Klm: 38 Aeronaves arrendados

Charter e operadores de aviação especializados

Charter e segmento de aviação especializado compreende 12% da base de clientes da Air Lease Corporation.

Tipo de operador	Número de operadores	Aeronaves arrendados
Charter Airlines	14	62 aeronaves
Operadores de carga	8	37 aeronaves

Air Lease Corporation (AL) - Modelo de Negócios: Estrutura de Custo

Custos de compra e aquisição de aeronaves

A partir de 2023, os custos de aquisição de frota da Air Lease Lase Corporation foram significativos:

Tipo de aeronave	Preço médio de compra	Investimento anual de aquisição
Boeing 737 máx	US $ 110,6 milhões	US $ 1,2 bilhão
Airbus A320neo	US $ 104,3 milhões	US $ 1,1 bilhão
Boeing 787 Dreamliner	US $ 248,6 milhões	US $ 750 milhões

Manutenção e despesas operacionais

Avaria anual de manutenção e despesas operacionais:

• Manutenção de aeronaves de rotina: US $ 350 milhões
• Revisão do motor Custos: US $ 225 milhões
• Inspeções técnicas: US $ 85 milhões
• Inventário de peças de reposição: US $ 140 milhões

Despesas de juros e financiamento

Custos de financiamento para 2023:

Categoria de financiamento	Despesa total
Despesas de juros	US $ 312 milhões
Custos de refinanciamento da dívida	US $ 45 milhões
Taxas da instalação de crédito	US $ 22 milhões

Pessoal e sobrecarga administrativa

Despesas de pessoal para 2023:

• Compensação total dos funcionários: US $ 185 milhões
• Remuneração de executivos: US $ 28 milhões
• Benefícios e seguro: US $ 42 milhões
• Treinamento e desenvolvimento: US $ 12 milhões

Investimentos de tecnologia e infraestrutura

Alocação de investimento em tecnologia:

Categoria de tecnologia	Investimento anual
Software de gerenciamento de frota	US $ 18 milhões
Infraestrutura de segurança cibernética	US $ 12 milhões
Plataformas de análise de dados	US $ 8 milhões
Soluções de computação em nuvem	US $ 7 milhões

Air Lease Corporation (AL) - Modelo de negócios: fluxos de receita

Renda de aluguel de arrendamento de aeronaves

Para o ano fiscal de 2022, a Air Lease Corporation registrou receitas totais de aluguel de aluguel de US $ 1,09 bilhão.

Categoria de receita	Valor (2022)
Receita de aluguel de arrendamento	US $ 1,09 bilhão
Crescimento da renda do aluguel de arrendamento	8,3% ano a ano

Vendas de aeronaves e receitas de remarketing

Em 2022, a Air Lease Corporation gerou receitas de vendas de aeronaves de US $ 227,1 milhões.

• Aeronaves totais vendidas em 2022: 29 aeronaves
• Receita de remarketing por aeronave: aproximadamente US $ 7,8 milhões

Taxas de gerenciamento e consultoria

As taxas de gerenciamento e consultoria para 2022 totalizaram US $ 12,5 milhões.

Receita de juros de atividades de financiamento

A receita de juros para o ano fiscal de 2022 foi de US $ 14,3 milhões.

Fonte de renda de juros	Valor (2022)
Receita total de juros	US $ 14,3 milhões
Taxa de juros média	3.2%

Apreciação de valor residual da frota de aeronaves

O valor total da frota em 31 de dezembro de 2022 foi de aproximadamente US $ 16,9 bilhões.

• Tamanho da frota: 382 aeronaves
• Valor médio da aeronave: US $ 44,2 milhões
• Apreciação do valor da frota: 5,7% em 2022

Air Lease Corporation (AL) - Canvas Business Model: Value Propositions

You're looking at the core value Air Lease Corporation (AL) delivers to its airline customers as of late 2025. It's about providing immediate access to modern assets without the massive upfront capital outlay.

The primary draw is access to a young, fuel-efficient fleet. As of September 30, 2025, the weighted-average fleet age of flight equipment subject to operating lease was just 4.9 years. This directly helps airlines meet modern operational and environmental targets.

Here's a quick look at the scale of the fleet providing this value:

Metric	Value as of September 30, 2025
Owned Aircraft Count	503
Managed Aircraft Count	50
Net Book Value of Fleet	$29.5 billion
New Aircraft on Order (Deliveries through 2031)	228

This fleet supports customized leasing and financing solutions tailored to specific airline needs. Air Lease Corporation served a globally diversified customer base of 108 airlines in 55 countries as of the third quarter of 2025. For the three months ended September 30, 2025, total rental of flight equipment revenue reached $681 million, showing the scale of the leasing activity.

Mitigating airline capital risk by avoiding outright aircraft ownership is a huge part of the proposition. Instead of tying up billions in assets, airlines secure capacity on AL's modern fleet. Consider the long-term commitment AL has already secured:

• Committed minimum future rental payments totaled $29.3 billion as of September 30, 2025.
• This includes $19.6 billion in contracted minimum rental payments on the existing fleet.
• An additional $9.7 billion is locked in for aircraft delivering through 2031.

This structure also provides predictable long-term costs for the lessee, as these are typically net operating leases where the airline handles maintenance costs. The weighted average remaining lease term for flight equipment subject to operating lease was 7.2 years as of September 30, 2025. This long, contracted revenue visibility helps lessees budget effectively, knowing their primary fixed cost for the airframe is set for nearly seven years. Defintely, this predictability is key for airline financial planning.

The value proposition is further cemented by the financing structure supporting the assets:

• As of September 30, 2025, 75.74% of Air Lease Corporation's total debt financing was at a fixed rate.
• The composite cost of funds for Air Lease Corporation was 4.29% at the end of Q3 2025.

Finance: draft 13-week cash view by Friday.

Air Lease Corporation (AL) - Canvas Business Model: Customer Relationships

Air Lease Corporation builds direct, long-term relationships with airline management teams globally, positioning itself as a total fleet solutions provider. This involves offering customized aircraft leasing and financing solutions to its worldwide customer base. The company's strategy emphasizes deep partnerships over transactional business, which helps secure stable, long-term revenue streams.

The strength of these relationships is reflected in the committed minimum future rental payments, which totaled $28.8 billion as of the second quarter of 2025. This figure is built upon contracted minimum rental payments on the existing fleet plus those related to future deliveries.

Metric	As of June 30, 2025	As of March 31, 2025	As of December 31, 2024
Number of Airlines	109	112	116
Number of Countries	55	57	58
Orderbook Placed on Long-Term Leases (Through 2026 Deliveries)	100%	100%	100%
Entire Orderbook Placed on Long-Term Leases	Approximately 58%	Approximately 58%	Approximately 62%

Air Lease Corporation maintains a dedicated team of experienced professionals principally engaged in purchasing new commercial aircraft and leasing them to airline customers. This team supports customers with a range of services that go beyond simple leasing, including:

• Airline fleet modernization projects
• Financing arrangements
• Strategic advisory / restructuring
• OEM joint campaigns

The company's operational success in maintaining customer relationships is evidenced by its lease utilization rate, which was 100.0% for the full year 2024. This high rate shows that the aircraft Air Lease Corporation owns are actively generating revenue.

Continuous support for fleet modernization and expansion is a core component of the customer relationship. Air Lease Corporation focuses on acquiring the most modern, fuel-efficient aircraft available, often serving as a launch customer for new types. The portfolio is designed to help airline customers replace older jets with aircraft that are generally 20 to 25% more fuel-efficient.

The commitment to a modern fleet is visible in the order book and fleet age:

• As of September 30, 2025, the order backlog stood at 228 new aircraft from Airbus and Boeing, with deliveries scheduled through 2031.
• As of December 31, 2024, the average age of the owned fleet was 4.6 years.
• As of March 31, 2025, the weighted average fleet age was 4.7 years.

The company actively places future deliveries on lease to ensure a smooth transition for customers needing fleet upgrades. As of the end of the third quarter of 2025, Air Lease Corporation had placed 100% of its expected orderbook for aircraft delivering through the end of 2026 on long-term leases. Furthermore, 96% of the expected orderbook through the end of 2027 was placed, with approximately 64% of the entire orderbook delivering through 2031 secured on long-term leases. Finance: draft 13-week cash view by Friday.

Air Lease Corporation (AL) - Canvas Business Model: Channels

You're looking at how Air Lease Corporation gets its product-leased aircraft-to the customer and how it manages its capital structure to fund those assets. The Channels block for Air Lease Corporation is a mix of direct customer engagement, strategic asset disposition, and constant access to the capital markets.

Direct sales and marketing efforts to global airline customers

This is the core of the leasing business, getting aircraft placed with airlines worldwide. Air Lease Corporation principally engages in purchasing new commercial aircraft and leasing them through customized financing solutions to its airline customers globally. As of September 30, 2025, the fleet stood at 503 owned aircraft and 50 managed aircraft. The direct leasing channel is clearly working, as the total rental of flight equipment revenue for the third quarter of 2025 reached $681 million, marking a 9% increase from the same period in 2024. You see this activity in the placements announced, such as securing a new Airbus A321-200neo with Sun PhuQuoc Airways and six new Airbus aircraft with Magnifica Air during that quarter. The demand for their future deliveries remains high; the company placed 100% of its expected orderbook on long-term leases for aircraft delivering through the end of 2026. The entire orderbook, which totals 228 new aircraft set to deliver through 2031, is largely pre-committed. The company's customer base is quite broad, serving 116 airlines across 58 countries as of the 2024 year-end.

The direct channel activity for Q3 2025 looked like this:

Metric	Q3 2025 Value	Context/Comparison
Aircraft Delivered from Orderbook	13 new aircraft	Investments totaled approximately $685 million in the quarter.
Flight Equipment Rental Revenue (Q3)	$681 million	Up 9% year-over-year.
Lease Utilization (2024 YE)	100.0%	Indicates high placement effectiveness.

Third-party aircraft buyers for asset sales and portfolio cycling

Cycling assets out of the portfolio is a key part of managing residual value risk. Air Lease Corporation actively sells aircraft to third-party buyers to manage portfolio composition and realize gains. For the third quarter of 2025, the company sold 5 aircraft to these buyers, generating sales proceeds of approximately $220 million. This contrasts with the second quarter of 2025, where they sold 4 aircraft for about $126 million in proceeds. Looking at the full year 2025 expectation, Air Lease Corporation had previously projected sales of approximately $1.5 billion in aircraft.

Here's a look at the asset sales activity:

• Aircraft sold to third-party buyers in Q3 2025: 5.
• Aircraft sales proceeds in Q3 2025: approximately $220 million.
• Aircraft sold in 2024: 39, generating $169.7 million in gains.
• Expected aircraft sales for full year 2025: approximately $1.5 billion.

Investor Relations for capital market access and debt issuance

Access to cost-effective capital is the lifeblood of an aircraft lessor. Air Lease Corporation maintains a strong liquidity profile to support its acquisition strategy and meet obligations. As of September 30, 2025, the company ended the quarter with $7.4 billion in liquidity. The total debt financing stood at $20.2 billion, with a significant portion structured favorably: 75.7% of that debt was at a fixed rate, and 97.5% was unsecured. The composite cost of funds for the period was 4.29%. Furthermore, the company communicates shareholder returns through its dividend policy; the board declared a quarterly cash dividend of $0.22 per share on October 31, 2025.

A major event channeling through Investor Relations in late 2025 was the announcement of a merger agreement valued at approximately $7.4 billion, which is expected to close in the first half of 2026.

Key capital structure metrics as of September 30, 2025:

Financing Metric	Amount/Percentage
Total Debt Financing	$20.2 billion
Percentage of Debt at Fixed Rate	75.7%
Percentage of Debt Unsecured	97.5%
Liquidity at Quarter End	$7.4 billion
Composite Cost of Funds	4.29%

Air Lease Corporation (AL) - Canvas Business Model: Customer Segments

You're looking at Air Lease Corporation's customer base as of the end of the third quarter of 2025, and it's definitely spread out globally. The core customer segment is made up of globally diversified commercial airlines. This group isn't just one type; it includes major flag carriers and the increasingly important low-cost operators that need modern, efficient jets to keep their costs down.

Honestly, the sheer scale of their reach is what stands out. As of September 30, 2025, Air Lease Corporation served a customer base comprised of 108 airlines operating across 55 countries. That's a lot of relationships to manage, but it's the bedrock of their risk mitigation strategy.

These airlines are primarily looking for two things: fleet modernization-getting newer, more fuel-efficient aircraft-and capital-efficient growth, meaning they want to expand capacity without tying up massive amounts of cash in owned assets. Air Lease Corporation helps them do this by owning the planes and leasing them out. The fleet as of that date was 503 owned aircraft, with a weighted average fleet age of just 4.9 years for aircraft on operating lease, which speaks directly to the modernization theme.

To show you just how diversified the revenue risk is, we can look at where the assets are leased geographically. No single region dominates the net book value of the flight equipment subject to operating leases.

Region	% of Net Book Value (as of 9/30/2025)
Europe	39.7%
Asia Pacific	36.2%
Central America, South America, and Mexico	10.1%
The Middle East and Africa	8.1%
U.S. and Canada	5.9%

The company's structure is designed so that no single airline accounts for a disproportionate amount of the rental revenue, which is a key feature of a stable leasing model. While I don't have the exact percentage for the largest customer as of late 2025, the fact that they serve 108 airlines across 55 countries strongly supports the strategy of avoiding over-reliance on any one operator. Their total rental of flight equipment revenue for the third quarter of 2025 hit $681 million, showing the scale of the business supporting these relationships.

You can also see the focus on growth and future placement:

• Total assets stood at over $33 billion as of September 30, 2025.
• The net book value of the fleet was $29.5 billion on the same date.
• They had 228 new aircraft on order from Boeing and Airbus, with deliveries scheduled through 2031.
• 100% of the expected orderbook through the end of 2026 was already placed on long-term leases.

Finance: draft 13-week cash view by Friday.

Air Lease Corporation (AL) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Air Lease Corporation's operations as of late 2025. For a leasing company, financing costs and asset management are the big levers, so we need to focus on the hard numbers from the Q3 2025 results.

The cost of servicing the debt is a major component. Air Lease Corporation ended Q3 2025 with total debt financing, net of discounts and issuance costs, of $20.2 billion. This debt load directly impacts interest expense, which for the three months ended September 30, 2025, rose to $228.4 million. This increase was partly driven by the composite cost of funds moving up to 4.29% as of September 30, 2025, compared to 4.14% at the end of 2024.

Depreciation on the fleet is your other massive cost, even though it's a non-cash item that doesn't hit the cash flow statement directly. The asset base subject to this charge is substantial. As of September 30, 2025, the net book value of the fleet stood at $29.5 billion.

Then you have the day-to-day running costs. Selling, general, and administrative expenses (SG&A) saw an increase, partly due to the pending transaction. Specifically, Air Lease Corporation recorded approximately $9 million in costs associated with the merger during Q3 2025.

Here's a quick look at the key cost-structure metrics we pulled from the Q3 2025 filings:

Cost/Debt Metric	Amount/Rate	As of Date
Total Debt Financing (Net of Issuance Costs)	$20.2 billion	September 30, 2025
Interest Expense (Three Months)	$228.4 million	Q3 2025
Composite Cost of Funds	4.29%	September 30, 2025
SG&A (Merger-Related Costs)	Approx. $9 million	Q3 2025
Net Book Value of Fleet	$29.5 billion	September 30, 2025

The composition of the debt itself is also a cost consideration, as it dictates exposure to rate changes. You can see the structure below:

• Total debt financing was $20.340 billion before discounts/costs.
• 75.7% of total debt financing was at a fixed rate as of September 30, 2025.
• 97.5% of the debt was unsecured.

The fleet size, which drives depreciation, is also worth noting. As of September 30, 2025, Air Lease Corporation owned 503 aircraft. Finance: draft 13-week cash view by Friday.

Air Lease Corporation (AL) - Canvas Business Model: Revenue Streams

You're looking at the core money-makers for Air Lease Corporation as of late 2025. The business is built on getting planes into the air under lease agreements, but other activities significantly boost the bottom line, especially this year.

The primary engine remains the rental of flight equipment. For the three months ended September 30, 2025, Air Lease Corporation pulled in $681 million from these lease rentals. That's a solid increase, up approximately 9% compared to the same period last year, driven by fleet growth and better lease yields.

Here's a quick look at the main revenue components from that third quarter:

Revenue Component	Amount (Q3 2025)
Primary rental of flight equipment	$681 million
Gains on aircraft sales and trading	$35.0 million
Total Revenues (Reported)	$725.4 million

Next up, we have gains from selling planes. For the third quarter of 2025, Air Lease Corporation booked $35.0 million in gains on aircraft sales and trading. Honestly, this was down 32% compared to Q3 2024, mainly because the company sold fewer aircraft-just five planes this quarter versus nine in the prior year period.

The really interesting part this year is the 'Other income' category. Air Lease Corporation recognized a significant non-recurring net benefit of $736.4 million from Russian fleet insurance recoveries for the nine months ended September 30, 2025. To be fair, the Q3 specific benefit from that Russian fleet settlement was only about $60 million, but the cumulative nine-month impact is huge.

Looking ahead, the contracted revenue stream is massive. As of mid-2025 (specifically June 30, 2025), Air Lease Corporation had committed minimum future rental payments totaling $28.8 billion. This figure shows the long-term revenue visibility you want to see in this business. That $28.8 billion is made up of several buckets:

• Contracted minimum rental payments on the existing fleet: $19.3 billion
• Minimum future rental payments for aircraft delivering through 2031: $9.5 billion

The company ended the quarter with over $33 billion in total assets, holding 503 aircraft in its owned fleet. Also, the board declared a quarterly dividend of $0.22 per share on October 31, 2025, which speaks to their confidence in that recurring revenue base.

Finance: draft 13-week cash view by Friday.