Air Lease (AL) Proxy Filing summary
Event summary combining transcript, slides, and related documents.
Proxy Filing summary
26 Oct, 2026Executive summary
As of Dec. 31, 2024, assets totaled $32.2B, owned and managed fleet was 549 aircraft, and 269 aircraft were on order; the customer base spanned 116 airlines in 58 countries.
4Q 2024 aircraft utilization was 100%; average owned-fleet age was 4.6 years, and available liquidity was $8.1B at year-end.
2024 performance included record total revenue and an annual cash-bonus company performance factor of 114%, despite high interest rates and continuing OEM delivery delays.
Board of directors and corporate governance
Executive Chairman Steven Udvar-Házy announced retirement from his executive role effective May 2, 2025; if reelected, he plans to chair the Board until the 2026 Annual Meeting and is expected to leave the Board then.
All directors except the Executive Chairman and CEO are independent; standing committees are fully independent, directors are elected annually, and director elections use a majority-vote standard with mandatory resignation if not elected.
Governance practices include annual Board and committee evaluations, succession planning, independent lead director, stock-ownership guidelines, and a compensation clawback policy compliant with NYSE standards.
Board diversity efforts include a Rooney Rule requiring minority and female candidates in director-nominee pools; average independent-director tenure is 8.9 years.
Executive compensation and say-on-pay
2024 annual incentives weighted financial metrics at 80%—revenue and adjusted pretax income at 40% each—and strategic objectives at 20%; financial weighting rose from 70% in 2023.
Long-term awards use book value (50%), relative TSR (25%), and time-based RSUs (25%); performance awards cliff-vest after three years, while time-based RSUs vest ratably over three years.
After lower say-on-pay support in 2023, engagement reached over 70% of shareholders; 2024 targets were raised above 2023 actual results and above-target payout hurdles increased.
2024 per-share book value of $59.55 produced 116% vesting for 2022 book-value RSUs; three-year TSR was 19.8%, at the 55th percentile of the S&P 400 MidCap Index, producing 100% vesting for 2022 TSR RSUs.
Udvar-Házy’s retirement terms include two years of $1.8M salary and health coverage, a $5.6M cash payment over two years, a prorated 2025 bonus, continued RSU vesting under specified terms, and a six-month non-compete after Board service.
Latest events from Air Lease
- Record 2022 operating results alongside pay changes and expanded ESG commitments.AL
Proxy Filing - Q2 2026: $126.4M adjusted net income, $4.4B portfolio sales, strong liquidity, post-merger decline.AL
Q2 2026 - Q1 2026 net income dropped to $114.8M as merger completed and focus shifted to deleveraging.AL
Q1 2026 - Record revenue, strong net income, and a major merger highlight FY2025 performance.AL
Q4 2025 - Net income dropped 26% as higher costs and delivery delays offset strong fleet demand.AL
Q2 2024 - Revenue up 4.7%, net income down as higher interest costs offset fleet growth and strong demand.AL
Q3 2024 - Strong demand, supply constraints, and a large orderbook drive resilient lease market growth.AL
14th Annual Aircraft Finance & Leasing Conference & Airline One on One Day - Lease yields, sales margins, and capital flexibility rise amid strong demand and a young fleet.AL
J.P. Morgan Industrials Conference 2025 - Record revenues and fleet growth offset by lower net income from rising interest costs.AL
Q4 2024