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Air Lease (AL) Makes Aircraft Investments Worth $800 M in Q3

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While announcing the update on aircraft investments, sales and new significant financing made by the company during the third quarter of 2021, Air Lease (AL - Free Report) management stated that it spent

roughly $800 million during the period. Most investments were made during the second half of the quarter. However, no sale of aircraft was made by the currently Zacks Rank #3 (Hold) company, in the July-Sep period.

You can see the complete list of today’s Zacks # 1Rank (Strong Buy) stocks here.

While elaborating on aircraft investments during the three-month period, Air Lease stated that it delivered 16 new jets from its order book. The deliveries included one Airbus A320neo, six Airbus A321neos, seven Boeing 737-8s and two Boeing 737-9s. As of Sep 30, 2021, the company’s fleet included 370 owned aircraft and 89 managed aircraft with 320 new aircraft on order from Boeing and Airbus set to deliver through 2027.

On the finance front, Air Lease issued $1.1 billion of senior unsecured medium-term notes, which included $600 million of 0.8% senior unsecured medium-term notes due 2024 and $500 million of 2.10% senior unsecured medium-term notes due 2028.

Stocks to Consider

Investors interested in the Zacks Transportation sector may consider Schneider National (SNDR - Free Report) , Landstar System (LSTR - Free Report) and TFI International (TFII - Free Report) , all stocks currently carrying a Zacks Rank #2 (Buy).

Long-term expected earnings per share (three to five years) growth rate for Schneider National, Landstar System and TFI International is pegged at 17.9%, 12% and 31.6%, respectively.