Air Lease Corporation (NYSE: AL) has announced that its Executive Chairman, Steven Udvar-Házy, will retire on May 2, 2025, following the company’s 2025 annual meeting of stockholders. Upon his retirement, Mr. Udvar-Házy will transition to the role of Chairman of the Board of Directors. He founded Air Lease Corporation in 2010 and has served as Chairman and Chief Executive Officer until 2016, at which time he became Executive Chairman.
During Mr. Udvar-Házy’s tenure at ALC, the company has achieved significant growth and success. The company's total assets now exceed $32 billion, with a portfolio that has delivered over $750 million in capital returned to stockholders since the company became publicly traded in 2011.
Under his leadership, ALC has fostered deep, long-term relationships with customers and has built a valuable portfolio. In addition to this, Mr. Udvar-Házy played a critical role in the inception of the aircraft leasing industry, with a career in aviation spanning 60 years.
John Plueger, Chief Executive Officer and President, praised Mr. Udvar-Házy, highlighting his invaluable knowledge and customer-centric ethos, which is deeply embedded within the company.
As a visionary in the industry, Mr. Udvar-Házy's unrelenting dedication, deep understanding of customer needs, and entrepreneurial spirit will leave a lasting mark on ALC and the aviation industry at large. His retirement will mark the end of an era for the company.
Air Lease Corporation, based in Los Angeles, California, is a leading global aircraft leasing company with airline customers throughout the world. The company's team of dedicated and experienced professionals is engaged in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions.
The company's fleet currently stands at $28 billion, with a $17 billion orderbook of new technology and fuel-efficient aircraft positions.
Mr. Udvar-Házy's retirement will be a significant transition for ALC, marking the end of an era and the beginning of a new chapter for the company as it looks to continue its success in the aviation industry. As a result of these announcements, the company's shares have moved 1.7% on the market, and are now trading at a price of $45.3. If you want to know more, read the company's complete 8-K report here.
