Air Lease falls after missing Q1 profit estimates on higher interest payments

Air Lease

06/05/2024 22:45

** Shares of Air Lease Corp  AL.N  down 5.7% to $48.61 in
after market trading 
    ** AL misses Q1 profit estimates
    ** Co reports profit per share of 87 cents, below analysts'
average expectation of 91 cents, according to LSEG data 
    ** AL made higher interest payments on funds borrowed to
finance aircraft purchases
    ** Interest payments rose 19.8%, to $181.6 million in the
first quarter
    ** Shares of the co have gained 36.2% in last 12 months
     

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))