Air Lease Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenues of $191.997 million compared to $132.553 million a year ago. Income before income taxes of $61.672 million compared to $41.610 million a year ago. Net income was $39.996 million or $0.38 per share of Class A and Class B common stock compared to $26.927 million or $0.26 per share of Class A and Class B common stock a year ago. Adjusted net income was $47.769 million compared to $34.1 million a year ago. Adjusted EBITDA was $177.258 million compared to $118.317 million a year ago. Net cash provided by operating activities was $161.141 million compared to $101.522 million a year ago. Acquisition of furnishings, equipment and other assets were $36.708 million compared to $35.113 million a year ago.

The Board of Directors of Air Lease Corporation declared second quarter cash dividend of $0.025 per share on outstanding common stock.

Air Lease Corporation announced the closing of a 4 year unsecured revolving bank credit facility for $1.7 billion priced at LIBOR +1.45%, with no LIBOR floor. This new facility amends and updates its existing bank facility, by increasing the size from $1.1 billion to $1.7 billion, extending the availability period from 3 years to 4 years to May, 2017, and reducing the pricing from LIBOR +1.75% with no LIBOR floor and an undrawn fee of 37.5 basis points to LIBOR +1.45% with no LIBOR floor and a 30 basis point facility fee. This revolving credit line was arranged by 8 joint bookrunners: J.P. Morgan Securities, BMO Capital Markets, Citigroup Global Markets, Credit Suisse Securities (USA), Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, RBS Securities, and Wells Fargo Securities. The number of participating banks increased from 19 to 26 in the facility.