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Bharath Chandrashekhar Hui Li Rodrigo Serna Presented March 11, 2014. Air Lease Corporation (AL). Agenda. Current Holdings – Current H oldings of AL Relevant Macroeconomic Trends Industry Structure Analysis Company Overview Financial Analysis Projections/Assumptions Valuation

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bharath chandrashekhar hui li rodrigo serna presented march 11 2014
BharathChandrashekhar

Hui Li

Rodrigo Serna

Presented March 11, 2014

Air Lease Corporation (AL)

agenda
Agenda
  • Current Holdings – Current Holdings of AL
  • Relevant Macroeconomic Trends
  • Industry Structure Analysis
  • Company Overview
  • Financial Analysis
  • Projections/Assumptions
  • Valuation
  • Recommendation
stock performance
Stock performance

400 shares of AL purchased on 12/18/12

@ 22.32

Closed @ 37.09 on 3/10/14

relevant macroeconomic trends
Relevant Macroeconomic Trends

+ Global Airline Market

+ Global GDP Growth

+ European & Asian Markets

+ Budget Airlines

+ Increase in % of Global Fleet Leased

- Emerging Markets

+/- Consolidation

of Industry

Caption: Percentage of Fleets Leased in Geographic Areas

Source: CIT Aerospace Aircraft Leasing Industry Overview (p26, p29)

company overview
Company Overview

Financing

Airlines

Boeing

Airbus

Air Lease

slide8
Debt
  • Unsecured Debt (70% of Total Debt): Flexibility
  • BBB- from S&P, Aug 2013

Source: AL 2013 10K P45

products
Products

Source: AL 2013 10K P46

c ustomers
Customers

Source: AL 2013 10K P5-6

recommendation
Recommendation

HOLD

400 Shares