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AIR LEASE CORPORATION Air Lease Corporation Announces Second Quarter 2021 Results Los Angeles , California , August 5 , 2021 - Air Lease Corporation ( ALC ) ( NYSE : AL ) announces financial results for the three and six months ended June 30 , 2021 . " On an overall global scale , the airline industry is improving . Passenger traffic is staging a robust recovery in the U.S.A. , Mexico , China , Russia , and most of Europe , with international and long haul traffic at a much slower recovery rate . Outside of China , Asia overall lags in traffic recovery and vaccination rates . Although we still face some customer and OEM challenges in the near term , our operating cash flow continues to strengthen . Lease placements from our fleet and orderbook are accelerating as airlines view recovery and the desirability of fleet transformation to enhance operating economics and environmental sustainability , " said John L. Plueger , Chief Executive Officer and President . " Pent up demand is resulting in rapid and strong recovery when and where travel restrictions are lifted . Accordingly , we are focusing our leasing efforts on the most rapidly recovering regions , such as growing our U.S.A. book of business , where we see more potential ahead . Canada opening its borders should provide a further stimulant to North America , while we anticipate trans - Atlantic traffic recovery in the near future . Strong freight and e - commerce demand is aiding airline recovery globally , which is particularly beneficial for our widebody customers in Asia and Europe . We continue to see a bright future for ALC in providing for the growing demands of commercial aviation , " said Steven F. Udvar - Házy , Executive Chairman of the Board . Second Quarter 2021 Results The following table summarizes our operating results for the three and six months ended June 30 , 2021 and 2020 ( in millions , except per share amounts and percentages ) : Financial Highlights Revenues Income before taxes Net income available to common stockholders Adjusted net income before income taxes ( 1 ) Diluted earnings per share Adjusted diluted earnings per share before income taxes ( ¹ ) Cash flows from operations Financial Ratios $ $ $ 2021 Three Months Ended June 30 , $ change $ ( 29.4 ) ( 69.3 ) 491.9 $ 114.6 85.6 125.9 0.75 $ 1.10 $ 2020 521.3 183.9 143.8 194.2 1.26 $ 1.71 $ Pre - tax profit margin Adjusted pre - tax profit margin ( 1 ) Pre - tax return on common equity ( trailing twelve months ) Adjusted pre - tax return on common equity ( ¹ ) ( trailing twelve months ) ( 58.2 ) ( 68.3 ) ( 0.51 ) ( 0.61 ) % change 2021 ( 5.7 ) % $ ( 37.7 ) % $ ( 40.5 ) % $ 2021 23.3 % 25.6 % 8.5 % 9.6 % ( 35.2 ) % $ ( 40.5 ) % $ ( 35.7 ) % $ $ Three Months Ended June 30 , 966.7 $ 218.1 $ 165.8 $ 243.1 $ 1.45 $ 2.13 $ 602.7 $ 2020 35.3 % 37.3 % 13.9 % 15.0 % Exhibit 99.1 Six Months Ended June 30 , 2020 1,032.7 $ 355.6 $ 277.1 $ $ change % change ( 66.0 ) ( 6.4 ) % ( 137.5 ) ( 38.7 ) % ( 111.3 ) 2021 22.6 % 25.1 % 8.5 % 9.6 % ( 40.2 ) % 377.0 $ ( 35.5 ) % ( 133.9 ) 2.43 $ ( 0.98 ) ( 40.3 ) % 3.31 $ ( 1.18 ) ( 35.6 ) % 468.3 $ 134.4 28.7 % Six Months Ended June 30 , 2020 34.4 % 36.5 % 13.9 % 15.0 % ( 1 ) Adjusted net income before income taxes , adjusted diluted earnings per share before income taxes , adjusted pre - tax profit margin and adjusted pre tax return on common equity have been adjusted to exclude the effects of certain non - cash items , one - time or non - recurring items , that are not expected to continue in the future and certain other items . See note 1 under the Consolidated Statements of Income included in this earnings release for a discussion of the non - GAAP measures and a reconciliation to their most comparable GAAP financial measures .