Financial PerformanceJune Q results were impacted by further OEM delivery delays, lower end of lease revenues vs prior year, a reduction in aircraft sales gains due to the timing of individual aircraft sales closings in various packages, and new aircraft deliveries that reflect lease deals concluded about two years ago when aircraft demand was not as strong and interest rates were lower.
InvestmentAircraft investment made in the quarter totaled ~$940mn, below BofA expectations of $1,403mn and previous company expectations of $1,500mn as a result of significant OEM delays.
RevenueEnd of lease revenue was weak and will stay low for the balance of the year as there are only 8 scheduled terminations in 2024.