Moving To Chairman Of Board In May

Air Lease Corporation announced that Executive Chairman Steven Udvar-Házy will retire, effective May 2, 2025. He will transition to the company’s Board of Directors, where he will continue to serve as the non-executive Chairman for another year until the next annual stockholders’ meeting.

Udvar-Házy founded Air Lease corporation in 2010 and was its Chairman and CEO until 2016 when he became Executive Chairman. He grew ALC into a company with a $32 billion portfolio of assets and along the way, returning $750 million in capital to stockholders since the company went public in 2011.

Throughout his 60-year career, Udvar-Házy was passionate about aviation and was instrumental in conceiving and establishing the aircraft leasing industry after starting an airline consulting business in his early days during which he brokered aircraft.

He co-founded and led International Lease Finance Corporation in 1973, and it was subsequently sold to AIG for $1.3 billion. Udvar-Házy led ILFC until he first retired in 2010, during which the company developed operating leases that enabled airlines a significantly greater level of flexibility in business operations.

Mr. Udvar-Házy commented, “The aviation industry has been my passion since a young age, and it has been incredible to see how far we have come. I am very proud of the success we have achieved since founding ALC over 15 years ago and the role we have played in supporting airline customers around the world.

“John and the dedicated leadership team will continue to build on our strong foundation and support our airline and OEM partners. I am very confident in the long-term strength of the business, and ALC is well positioned to capture the meaningful opportunities ahead to deliver for our customers and create value for stockholders.”

FMI:  www.airleasecorp.com/