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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Air Lease
Air Lease (AL) investor relations material
Air Lease has been acquired by Sumitomo Corporation
Air Lease Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary10 Aug, 2026
Executive summary
Adjusted net income before tax for Q2 2026 was $126.4 million, reflecting merger-related expenses and a sharp decline from the prior year.
Integration with SMBC Aviation Capital is progressing well, with servicing activities in place and positive customer feedback.
Two large portfolio sales totaling $4.4 billion have been converted to binding contracts to support deleveraging and portfolio optimization.
The company maintains a young, liquid fleet with 85–87% new technology aircraft and an average age of ~7 years.
Post-merger, the company shifted focus to portfolio optimization and deleveraging, with a significant portion of the fleet classified as held for sale.
Financial highlights
Total revenue for Q2 2026 was $641.1 million on a non-GAAP combined basis, down 12.4% year-over-year due to lower rental revenue and aircraft sales gains.
Net income to common stockholders was $7.2 million, reflecting $65 million in transaction costs and $26 million in accelerated stock-based compensation.
Sales proceeds for the quarter were $423 million from the sale of nine aircraft.
Net book value of flight equipment subject to operating leases was $23.9 billion as of June 30, 2026.
Ended the quarter with $3.5 billion in liquidity, including $368.6 million in cash and $3.1 billion undrawn revolving credit.
Outlook and guidance
Aircraft sales pipeline totals $5.1 billion, with most sales expected to close by the end of Q1 2027.
Focus remains on portfolio optimization and deleveraging, targeting an adjusted debt-to-equity ratio of 3.0x (currently at 3.5x).
No significant growth in lease rentals expected as the company continues to optimize its fleet.
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Latest events from Air Lease
- Record 2022 operating results alongside pay changes and expanded ESG commitments.AL
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- Q1 2026 net income dropped to $114.8M as merger completed and focus shifted to deleveraging.ALQ1 2026
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- Record revenues and fleet growth offset by lower net income from rising interest costs.ALQ4 2024
Air Lease
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Frequently asked questions
Air Lease Corporation is an aircraft leasing company. The Company leases commercial jet aircraft to major airlines worldwide under lease agreements, including fixed rate and floating rate leases. Its customers include domestic, regional and foreign airlines that provide air service to various destinations in the United States and the rest of the world. It operates through the Purchase & Lease, or Purchase & Flip segments. The Purchase & Lease segment purchases used commercial jet aircraft from manufacturers, remarkets them and provides leasing services to airlines around the world. The company was started in 2010 and is headquartered in Los Angeles, California.