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BUSINESS
April 20, 2011 | W.J. Hennigan
A battle between two big names in aircraft leasing is underway, with Los Angeles billionaire Steven Udvar-Hazy's Air Lease Corp. now armed with about $868 million from its initial public offering to buy new jets. In its first day of trading on the New York Stock Exchange, the Century City company known as ALC saw its stock close at $27.95 a share Tuesday. That's up 5.5% from its IPO price of $26.50. The company sold 34.8 million shares in the initial offer, 9.8 million more than it had anticipated.
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BUSINESS
February 4, 2013 | By W.J. Hennigan
Air Lease Corp., the Century City aircraft-leasing firm, has placed an order for $9-billion worth of jetliners with Airbus. The deal, based on aircraft list price, includes an order for 25 A350 XWBs, which is a competitor to Boeing Co.'s grounded 787 Dreamliner. Air Lease also firmed up an order to buy 14 A321neos. Airbus announced the deal Monday. "The A350 XWB Family is becoming the industry benchmark for efficiency in the long haul segment, and the A320neo Family is ideal for airlines operating short to medium haul missions,” Air Lease Corp.
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BUSINESS
February 4, 2013 | By W.J. Hennigan
Air Lease Corp., the Century City aircraft-leasing firm, has placed an order for $9-billion worth of jetliners with Airbus. The deal, based on aircraft list price, includes an order for 25 A350 XWBs, which is a competitor to Boeing Co.'s grounded 787 Dreamliner. Air Lease also firmed up an order to buy 14 A321neos. Airbus announced the deal Monday. "The A350 XWB Family is becoming the industry benchmark for efficiency in the long haul segment, and the A320neo Family is ideal for airlines operating short to medium haul missions,” Air Lease Corp.
BUSINESS
April 25, 2012 | By W.J. Hennigan, Los Angeles Times
Troubled insurance giant American International Group Inc. filed a lawsuit against the former head of its aircraft leasing business, Steven Udvar-Hazy, contending the Los Angeles billionaire stole company secrets, wooed away customers and pilfered business deals after he started a competing firm in 2010. The New York insurance company and its Century City unit, International Lease Finance Corp., or ILFC, filed suit Tuesday in Los Angeles County Superior Court. The 33-page complaint listed the defendants as Udvar-Hazy, his current company, Air Lease Corp., and 30 employees who left ILFC to work with him. AIG asserted in the lawsuit that the defendants collectively connected 16 flash drives to ILFC computers and downloaded nearly 13,000 ILFC files, which included price data concerning the value of aircraft fleets, past contracts, letters of intent and statements of work.
BUSINESS
February 5, 2010 | By W.J. Hennigan
International Lease Finance Corp. said late Thursday that Steven Udvar-Hazy, 63, who co-founded the Century City aircraft leasing company and built it into one of the world's largest, was retiring as its director and chief executive. President John Plueger will succeed Udvar-Hazy as acting chief executive. Udvar-Hazy's departure was widely expected after he stepped down as chairman in December. william.hennigan@ latimes.com
BUSINESS
July 16, 2010 | By W.J. Hennigan, Los Angeles Times
Aircraft leasing pioneer Steven Udvar-Hazy disclosed Thursday the formation of Air Lease Corp., a new Century City-based jet leasing venture. According to a release, Air Lease Corp., or ALC, has secured $3.3 billion in financing and plans to buy more than 100 commercial planes by spring of next year. "ALC is committed to helping shape the future of the aviation industry," Udvar-Hazy said in a statement. "We look forward to working with the leading global airlines as they modernize their fleets."
BUSINESS
April 5, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the Century City aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, said it planned to raise as much as $805 million in its initial public offering. The company, which buys passenger planes and rents them to airlines, said in January that it was planning an IPO. At that point ALC said it wanted to raise $100 million. The company said it would use the money to fund its acquisition of commercial aircraft and for general corporate purposes.
BUSINESS
July 21, 2010 | By W.J. Hennigan
Los Angeles Times Steven Udvar-Hazy continued his buying spree at Farnborough International Airshow in England on Tuesday, announcing another multibillion-dollar deal to purchase more than 50 airliners through his new start-up, Century City-based Air Lease Corp., or ALC. A day after announcing he was buying 51 A320-family airliners from European aircraft manufacturer Airbus, Los Angeles billionaire Udvar-Hazy struck a deal for 54 of the popular 737 commercial jets from Chicago-based Boeing Co. — potentially worth about $4.5 billion based on the plane's list price.
BUSINESS
July 20, 2010 | By W.J. Hennigan, Los Angeles Times
Just days after officially announcing his return to the aircraft leasing business he pioneered, Steven Udvar-Hazy took center stage at one of the world's premier air shows to reveal he had signed a multibillion-dollar deal to buy 51 Airbus airliners. Monday's blockbuster purchase, potentially worth $4.4 billion based on the plane's list price, signaled to the aviation industry that Udvar-Hazy was back in a big way. Just six months earlier, the Los Angeles billionaire had retired from Century City's International Lease Finance Corp.
BUSINESS
January 15, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the Century City aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, is seeking to raise $100 million in an initial public stock offering. In a filing with the Securities and Exchange Commission on Friday, Udvar-Hazy's company said it intended to use the money to fund acquisition of commercial aircraft and for general corporate purposes. The public offering could help Udvar-Hazy regain his stature as the godfather of aircraft leasing, the business of buying planes and renting them to airlines.
BUSINESS
November 12, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, reported a profit for the third quarter, citing strong demand for its aircraft amid airline expansion in many regions of the world. The Century City company reported late Thursday that net income for the three-month period ended Sept. 30 came to $18.3 million, or 18 cents a share. Analysts had expected a profit of 15 cents a share. Revenue totaled $92.1 million. Air Lease bought 14 planes during the quarter and now has a fleet of 79 aircraft.
BUSINESS
May 17, 2011 | By W.J. Hennigan, Los Angeles Times
Los Angeles billionaire Steven Udvar-Hazy's Air Lease Corp. reported a $3.2-million profit in its first quarterly earnings report — just one month after its first day of trading on the New York Stock Exchange. The Century City-based aircraft leasing company reported Monday that revenue for the three-month period ended March 31 totaled $55.2 million, compared with total expenses of $50.3 million. Air Lease announced earnings of 5 cents a share after the stock market closed.
BUSINESS
April 20, 2011 | W.J. Hennigan
A battle between two big names in aircraft leasing is underway, with Los Angeles billionaire Steven Udvar-Hazy's Air Lease Corp. now armed with about $868 million from its initial public offering to buy new jets. In its first day of trading on the New York Stock Exchange, the Century City company known as ALC saw its stock close at $27.95 a share Tuesday. That's up 5.5% from its IPO price of $26.50. The company sold 34.8 million shares in the initial offer, 9.8 million more than it had anticipated.
BUSINESS
April 18, 2011 | By W.J. Hennigan, Los Angeles Times
Los Angeles billionaire Steven Udvar-Hazy's new aircraft-leasing venture is headed for a multimillion-dollar arrival on the New York Stock Exchange this week. Air Lease Corp., started last year by industry pioneer Udvar-Hazy, is set to go public with a stock offering that will fuel the Century City company's buying power to add to its fleet of new passenger jets. The deal also will boost the company's ability to take on larger global competitors, including Udvar-Hazy's former firm, International Lease Finance Corp., owned by insurance behemoth American International Group Inc. Air Lease, or ALC, could sell as many as 28.75 million shares of Class A common stock at $25 to $28 a share, raising as much as $805 million.
BUSINESS
April 5, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the Century City aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, said it planned to raise as much as $805 million in its initial public offering. The company, which buys passenger planes and rents them to airlines, said in January that it was planning an IPO. At that point ALC said it wanted to raise $100 million. The company said it would use the money to fund its acquisition of commercial aircraft and for general corporate purposes.
BUSINESS
January 15, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the Century City aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, is seeking to raise $100 million in an initial public stock offering. In a filing with the Securities and Exchange Commission on Friday, Udvar-Hazy's company said it intended to use the money to fund acquisition of commercial aircraft and for general corporate purposes. The public offering could help Udvar-Hazy regain his stature as the godfather of aircraft leasing, the business of buying planes and renting them to airlines.
BUSINESS
May 17, 2011 | By W.J. Hennigan, Los Angeles Times
Los Angeles billionaire Steven Udvar-Hazy's Air Lease Corp. reported a $3.2-million profit in its first quarterly earnings report — just one month after its first day of trading on the New York Stock Exchange. The Century City-based aircraft leasing company reported Monday that revenue for the three-month period ended March 31 totaled $55.2 million, compared with total expenses of $50.3 million. Air Lease announced earnings of 5 cents a share after the stock market closed.
BUSINESS
November 12, 2011 | By W.J. Hennigan, Los Angeles Times
Air Lease Corp., the aircraft leasing company started last year by Los Angeles billionaire Steven Udvar-Hazy, reported a profit for the third quarter, citing strong demand for its aircraft amid airline expansion in many regions of the world. The Century City company reported late Thursday that net income for the three-month period ended Sept. 30 came to $18.3 million, or 18 cents a share. Analysts had expected a profit of 15 cents a share. Revenue totaled $92.1 million. Air Lease bought 14 planes during the quarter and now has a fleet of 79 aircraft.
BUSINESS
July 21, 2010 | By W.J. Hennigan
Los Angeles Times Steven Udvar-Hazy continued his buying spree at Farnborough International Airshow in England on Tuesday, announcing another multibillion-dollar deal to purchase more than 50 airliners through his new start-up, Century City-based Air Lease Corp., or ALC. A day after announcing he was buying 51 A320-family airliners from European aircraft manufacturer Airbus, Los Angeles billionaire Udvar-Hazy struck a deal for 54 of the popular 737 commercial jets from Chicago-based Boeing Co. — potentially worth about $4.5 billion based on the plane's list price.
BUSINESS
July 20, 2010 | By W.J. Hennigan, Los Angeles Times
Just days after officially announcing his return to the aircraft leasing business he pioneered, Steven Udvar-Hazy took center stage at one of the world's premier air shows to reveal he had signed a multibillion-dollar deal to buy 51 Airbus airliners. Monday's blockbuster purchase, potentially worth $4.4 billion based on the plane's list price, signaled to the aviation industry that Udvar-Hazy was back in a big way. Just six months earlier, the Los Angeles billionaire had retired from Century City's International Lease Finance Corp.
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