ALC Profits Down 68% In Q1

Aircraft Leasing Corporation (ALC) saw net profits fall to $19.3m in Q1 2015, a 68 per cent reduction from the $61.3m it posted for the same period last year.

Aircraft Leasing Corporation (ALC) saw net profits fall to $19.3m in Q1 2015, a 68 per cent reduction from the $61.3m it posted for the same period last year. The profit reduction came despite revenues increasing 13 per cent in the quarter to $278m, compared with Q1 2014 revenues of $246m. Los Angeles-based ALC confirmed that during the first three months of the year it had increased its owned fleet by 10 aircraft to 223, while adding another two aircraft to its managed fleet taking its total to 19. At the end of Q1, ALC signed agreements with Airbus to purchase 57 aircraft, a combination of A330neos and A321neos, bringing its total order backlog to 411 aircraft.

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