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Air Lease Corporation (NYSE:AL), an aircraft leasing company with a market capitalization of $6.55 billion, reported Tuesday that it has received $112.4 million in cash insurance proceeds as part of settlement agreements with certain insurers related to aircraft detained in Russia. According to InvestingPro data, the company maintains impressive gross profit margins of 58.5%, though it operates with a significant debt burden. The company stated that these proceeds will be recorded as an insurance recovery in its financial statements for the second quarter of 2025.
The latest settlement adds to $226.7 million in insurance proceeds previously received and disclosed in Air Lease’s quarterly report for the period ended March 31, 2025. In total, Air Lease has now recovered $763.5 million in insurance settlements against an initial write-off of $791.0 million taken in the first quarter of 2022, when it lost access to owned aircraft in Russia.
The settlements were reached in June 2025 with insurers under Air Lease’s contingent and possessed insurance policy. As a result, Air Lease and its subsidiaries have released their insurance claims against the settling insurers under the relevant policies and are dismissing these insurers from related litigation in both California and London.
Air Lease indicated that it expects to enter into a settlement agreement with the final war risk insurer under the same policy during the third quarter of 2025.
This information is based on a statement contained in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Air Lease Corporation reported robust financial results for the first quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $1.51, significantly higher than the projected $0.89, while total revenue reached $738 million, exceeding forecasts by $24.45 million. This strong performance was driven by increased rental revenues and gains from aircraft sales. Additionally, TD Cowen raised Air Lease’s stock price target to $55, maintaining a Buy rating, citing strong sales and earnings that outperformed estimates.
Citi also upgraded Air Lease’s stock from Neutral to Buy, raising the price target from $45 to $68, reflecting confidence in the company’s new capital allocation strategy. The strategy involves potential share buybacks and acquisitions, aligning with industry practices to enhance shareholder value. Despite the higher-than-expected expenses, including a $17 million retirement-related payout, analysts remain positive about Air Lease’s financial health and market position. The company anticipates $3-3.5 billion in new aircraft deliveries for 2025, with lease rates trending higher due to strong global demand for air travel.
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