Robert Martin, Managing Director and Chief Executive Officer, said, “The first quarter of 2023 was a successful period for us. At the end of the quarter, we had placed all new aircraft scheduled for delivery in 2023 and had lease commitments signed for all but one aircraft with leases expiring this year, which reflects the strong demand amongst the world’s airlines for modern technology aircraft. Our collection rate was 103% for the quarter, demonstrating the improving financial health of our airline customers and the speed with which they are recovering from the pandemic.”
Transactions Summary
A total fleet of 635 aircraft owned, managed and on order1
An average aircraft age of 4.6 years and an average remaining lease term of 8.0 years for the 393 owned aircraft fleet, both weighted by net book value
Order book of 207 aircraft1
Executed a total of 23 transactions in the first quarter of 2023, including:
Commitments to purchase three aircraft
Delivery of two new aircraft
Sale of one owned aircraft
13 lease commitments
The customer base of 86 airlines in 39 countries and regions in the owned and managed portfolios
Managed fleet comprising 35 aircraft, with all aircraft on lease2
Owned aircraft utilization improved to 99% as of 31 March 2023, with two single-aisle and two twin-aisle aircraft off lease2. As of the date of publication, all but one aircraft are committed for lease
Notes:
Includes all commitments to purchase aircraft including those where an airline customer has the right to acquire the relevant aircraft on delivery.
Excludes 17 owned and one managed aircraft that remain in the possession of certain Russian airlines despite the termination of the leases with those airlines.
Shareholders and potential investors are reminded that the above data are based on the Company’s records and have not been audited or reviewed by the Company’s auditors.