DeliveriesAir Lease reported a soft quarter from a deliveries perspective, facing challenges with both widebody and narrowbody aircraft from Boeing and Airbus.
EarningsFollowing a small revenue miss in 1Q24, the adjusted pre-tax EPS of $1.31 was below the consensus of $1.38, mainly due to lower-than-expected lease revenues and slightly higher SG&A costs.
Financial PerformanceAircraft investment for the quarter was $940 million, falling short of the expected $1,403 million due to significant delays from original equipment manufacturers (OEMs).