Glonghui, May 7 | US aircraft leasing company Air Lease Corp announced first-quarter results. Revenue was US$663 million, up 4.3% year on year, market expectations were US$680 million; earnings per share were US$0.87, down 17.9% year on year, and market expectations were US$0.91. Aircraft leasers are benefiting from increased rental income due to supply chain shortages, declining Boeing 737 MAX production capacity, and Pratt & Whitney GTF engine failure. Meanwhile, the company's profit declined during the same period, as it paid higher interest on the funds it borrowed to buy the aircraft, and interest expenses increased 19.8% during the period to US$181.6 million. Delivery delays are likely to persist even as demand is strong. Air Lease Executive Chairman Steven Udvar-Hazy said that the (supply and demand) imbalance is likely to stick with us for at least the next three to four years. Currently, neither Boeing nor Airbus have been able to deliver many of the new aircraft originally scheduled to be delivered in early 2024. The company expects to accept around $1.5 billion worth of new aircraft in the second quarter. The stock fell more than 4.5% after the market to $49.2.