AIR LEASE Business Summary

Air Lease Corporation (AL) operates as a leading global aircraft lessor, generating the vast majority of its revenue—approximately 94%—through the long-term rental of a high-growth fleet of fuel-efficient commercial jet aircraft. The company’s business model is bifurcated into its core Rental of Flight Equipment segment and a secondary Aircraft Sales, Trading, and Management segment, which leverages opportunistic asset disposals and fee-based fleet management for third-party investors. As of February 2026, the firm is in the final stages of a $28.2 billion acquisition by a consortium led by Sumitomo Corporation, SMBC Aviation Capital, Apollo, and Brookfield, a transaction expected to close in the first half of 2026 and rebrand the entity as Sumisho Air Lease Corporation. Air Lease currently maintains a top-tier market position alongside primary competitors AerCap Holdings, Aircastle, and Nordic Aviation Capital, and upon merger completion, it will form part of the world’s second-largest aircraft leasing platform. The company was founded in 2010 by aviation industry pioneers Steven F. Udvar-Házy and John L. Plueger, both of whom previously led International Lease Finance Corp (ILFC). Udvar-Házy currently serves as Executive Chairman, while Plueger remains President and Chief Executive Officer, supported by Gregory B. Willis as EVP and Chief Financial Officer and Carol Forsyte as EVP and General Counsel. The leadership team is characterized by deep pedigree in aviation finance, with John Rojas overseeing the firm’s technology infrastructure as Vice President of IT. The board of directors features notable industry veterans including Lead Independent Director Robert A. Milton (former Chairman and CEO of ACE Aviation Holdings) and Matthew J. Hart (former President and COO of Hilton Hotels). While currently a public entity with significant institutional backing from Vanguard and BlackRock, the company’s ownership is transitioning to the private consortium of Sumitomo, SMBC, Apollo, and Brookfield.