Aug 4 (Reuters) - Aircraft lessor Air Lease Corp AL.N reported a rise in second-quarter profit and revenue on Monday, as robust lease rentals helped offset the impact of a limited supply of new aircraft.
Aircraft lessors have benefited from strong lease rates as airlines rush to secure jets amid persistent supply-chain challenges and limited aircraft availability.
"Demand for aircraft, both on the leasing and sales side, remains robust and bodes well for margin expansion," CEO John Plueger said.
However, production delays at Boeing BA.N and Airbus AIR.PA have extended delivery schedules, limiting lessors' ability to fully capitalize on the rising demand.
Air Lease reported a net income of $374.1 million, or $3.33 per share, for the quarter ended June 30, compared with $90.4 million, or 81 cents per share, in the same period a year earlier.
Net income attributable to common stockholders rose compared to the prior year mainly due to a $344 million net gain from settling insurance claims with specific insurers related to aircraft held in Russia, and higher revenue, the company said.
The company expects to recognize an additional net benefit of about $60 million in the third quarter of 2025 from the settlement of additional insurance claims.
Its revenue rose 9.7% to $731.7 million during the quarter.
(Reporting by Shivansh Tiwary and Anshuman Tripathy in Bengaluru; Editing by Mohammed Safi Shamsi)
((Shivansh.Tiwary@thomsonreuters.com; +91 9708363192; X: @Shivansh_19_;))