Air Lease shares up 5.5% following $802.5 million IPO

04/19/2011 | Bloomberg · Wall Street Journal, The

Air Lease raised $802.5 million in an initial public offering this week and then rose 5.5% on the first day of trading. The Los Angeles-based company, which is led by Steven Udvar-Hazy, originally planned to sell 25 million shares, but boosted that figure and ultimately sold 30.3 million shares. "We're very happy and think it's a good outcome for the whole airline industry and the aircraft lessors," said Udvar-Hazy, chairman and CEO at Air Lease. "It establishes again the credibility of the leasing model as an important facet of airlines' fleet financing."

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Bloomberg · Wall Street Journal, The

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