Air Lease (NYSE: AL) reported Q3 EPS of $0.58, $0.02 better than the analyst estimate of $0.56. Revenue for the quarter came in at $262 million versus the consensus estimate of $261.5 million.

“In the third quarter, ALC continued along its steady growth path by increasing revenues and profitability once again. Our business remains strong. This past week ALC formed a joint venture with Napier Park Global Capital (US) LP with the objective of acquiring approximately $2 billion of aircraft over the next 24 months with ALC managing those aircraft for many years in the future. This partnership will significantly grow our management business and allow us another tool to better serve our airline customers,” said Steven F. Udvar-Házy, Chairman and Chief Executive Officer of Air Lease Corporation.

“Despite global headlines, we continue to see an overall healthy aviation ecosystem highlighted by growing passenger traffic and demand exceeding supply for our modern, fuel efficient jets. Sales of used aircraft continue at good levels. We delivered nine new aircraft from our pipeline during the quarter and sold four aircraft for a gain of $8.8 million. Capital access for investment grade companies remains strong. We issued $1 billion in senior unsecured notes including a $500 million 10 year issuance at attractive terms,” said John L. Plueger, President and Chief Operating Officer of Air Lease Corporation.

For earnings history and earnings-related data on Air Lease (AL) click here.