Aircraft lessor Air Lease Corp on Thursday posted a 15% rise in second-quarter profit on Thursday, as airlines look to expand capacity to cater to a strong pent-up travel demand.
Leasing companies are cashing in on growing interest for their new and used aircraft as a boom in global travel has seen more airlines opting for leasing services to offset delivery delays from planemakers Boeing and Airbus.
This has also led to high leasing rates boosting profit for aircraft lessors.
The company reported a net profit of $122 million, or $1.10 per share, for the three months ended June 30, compared with a profit of $105.9 million, or 95 cents per share, a year ago.
Revenue rose 20.7% to $672.9 million in the quarter.
(Reporting by Shivansh Tiwary in Bengaluru; Editing by Arun Koyyur)
