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AIR LEASE CORPORATION Air Lease Corporation Announces Third Quarter 2021 Results Los Angeles , California , November 4 , 2021. Air Lease Corporation ( ALC ) ( NYSE : AL ) announces financial results for the three and nine months ended September 30 , 2021 . " Benefiting from an improving airline industry , we had a good quarter , including record high rental revenues , total assets , and lease placements , the lowest composite funding rate in our history , and improved payments from our customers . We clearly see growing demand for new aircraft , especially for single aisle aircraft , and we are back to 2019 levels in terms of proposals being requested by airlines . With our conservative and disciplined business model , we have now profitably placed 67 % of our orderbook , despite pandemic challenges , and we remain optimistic in the future of our business and global airline travel , " said John L. Plueger , Chief Executive Officer and President . " With a long road remaining ahead for the recovery of airline financial performance , the industry is relying on ALC and the leasing sector now more than ever to achieve fleet modernization objectives , to reach environmental sustainability goals , and to meet capital requirements - we see this trend persisting for the foreseeable future . Global air traffic continues to improve , and we believe international volume is poised for strong recovery as travel restrictions are relaxed . As these positive trends continue , I am pleased to announce that our Board of Directors has authorized an increase in our quarterly common stock dividend to $ 0.185 per share , representing the 9th increase and 36th consecutive dividend payment in ALC's history , " said Steven F. Udvar - Házy , Executive Chairman of the Board . Third Quarter 2021 Results The following table summarizes our operating results for the three and nine months ended September 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 524.5 134.5 100.0 146.5 Three Months Ended September 30 , 2020 $ change % change 2021 493.6 $ 30.9 6.3 % $ 1,491.2 153.3 ( 18.8 ) ( 12.3 ) % 352.6 $ 0.87 $ 1.28 $ 116.6 166.9 1.02 $ 1.47 $ 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 ) ( 16.6 ) ( 20.4 ) ( 0.15 ) ( 0.19 ) ( 14.2 ) % ( 12.2 ) % ( 14.7 ) % $ 2021 25.7 % 27.9 % 8.0 % 9.1 % ( 12.9 ) % $ $ Three Months Ended September 30 , 265.8 389.5 Exhibit 99.1 2020 31.0 % 33.8 % 12.8 % 13.9 % Nine Months Ended September 30 , 2020 $ change $ 1,526.3 $ ( 35.1 ) 508.9 ( 156.3 ) 2.32 $ 3.40 $ 929.4 $ 393.6 543.9 3.46 $ 4.77 $ ( 1.37 ) 717.6 $ 211.8 2021 23.6 % 26.1 % 8.0 % 9.1 % % change ( 2.3 ) % ( 30.7 ) % ( 127.8 ) ( 32.5 ) % ( 154.4 ) ( 28.4 ) % ( 1.14 ) ( 32.9 ) % ( 28.7 ) % 29.5 % Nine Months Ended September 30 , 2020 33.3 % 35.6 % 12.8 % 13.9 % ( 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 .