2021 Highlights
- Full year 2021 revenue of $340.4 million, up 62.9%
year-over-year.
- Full year 2021 GAAP net income of $36.1 million, or 10.6% of
sales.
- Full Year 2021 Adjusted Net Income of $63.6 million, or 18.7%
of sales.
- Adjusted EBITDA of $89.3 million or 26.2% of sales for full
year 2021, up 73.2% year-over-year.
- Flight equipment sales included nine aircraft, two airframes,
and ten engines during 2021.
- Expect opportunities to monetize 15 Boeing 757s in 2022 and
2023 as freighter markets continue to grow with the majority
expected to be monetized in 2022.
- Provides 2022 guidance: expects revenue in the range of $420 -
$450 million and adjusted EBITDA in the range of $80 - $90
million.
AerSale Corporation (Nasdaq: ASLE) (the “Company”) today
reported results for the fourth quarter and full year ended
December 31, 2021.
The Company reported fourth quarter 2021 revenue of $116.8
million compared to $49.4 million in the year ago period. Revenue
for the fourth quarter of 2021 included flight equipment sales of
$73.1 million, while the prior year period did not include any
flight equipment sales. As a reminder to investors, the Company’s
revenues may fluctuate from quarter-to-quarter and year-to-year
based on flight equipment sales and therefore, progress should be
monitored based on asset purchases and related sales.
The improvement in Asset Management Solutions (AMS) revenue
during the fourth quarter of 2021 was partially offset by lower
revenue from maintenance, repair and overhaul (MRO) activities at
AerSale’s Goodyear facility within TechOps, following a
reallocation of resources to the Company’s cargo conversion line
for its Boeing 757 aircraft. The impact from the reallocation of
resources was partially offset by strong maintenance related
activities, which benefitted from the overall recovery in the
commercial aerospace end markets.
Fourth quarter 2021 GAAP net income was $11.2 million versus
$0.3 million in the prior year period. Improved net income
performance was driven by the strong AMS contributions noted above.
In the fourth quarter of 2021, AerSale recognized an unrealized
loss on investment of $5.4 million, a mark-to-market adjustment to
the warrant liability of $0.2 million, $3.8 million non-cash
stock-based compensation expense within payroll expenses, and $1.6
million in non-cash inventory write-offs recorded in the cost of
products line. This is compared to $1.0 million of non-cash
stock-based compensation in the fourth quarter of 2020. Adjusted
Net Income excluding these non-cash items was $22.3 million for the
fourth quarter of 2021, compared to $0.2 million in the prior-year
period. Please see the non-GAAP reconciliation table at the end of
this press release for additional details on these amounts.
Diluted earnings per share was $0.21 for the fourth quarter of
2021. Adjusted for the non-cash mark-to-market adjustments to
warrant liability, unrealized loss on investment, stock-based
compensation, and inventory write-offs, diluted earnings per share
was $0.32 for the fourth quarter of 2021. Diluted earnings per
share is not comparable to the prior year quarter and prior year
due to the public listing of AerSale on December 23, 2020.
Fourth quarter 2021 adjusted EBITDA was $28.6 million, compared
to $3.0 million in the prior-year period. The increase in adjusted
EBITDA and margins was driven by higher revenues and a favorable
sales mix that resulted in higher margins. Please see the non-GAAP
reconciliation table at the end of this press release for
additional details on these amounts.
With the impact of the Omicron variant receding and major
economies removing restrictions related to COVID-19, AerSale
expects the commercial market recovery to continue on a stronger
footing going forward. As consumer air travel rises and airlines
add to their services, AerSale anticipates higher MRO volume from
the recommissioning of commercial aircraft and greater demand for
used serviceable material (USM) parts for maintenance and overhaul
activity. In addition, the Company is on track to monetize its
remaining 15 Boeing 757s in 2022 and 2023 as the freighter markets
continue to grow. The bulk of the monetization is expected to occur
in 2022.
Cash flows from operating activities were $79.1 million
primarily due to strong GAAP net income results and increased
deposits related to 2022 contracted sales. The Company ended the
year with $130.2 million of cash and has an undrawn $150 million
credit facility.
Nicolas Finazzo, AerSale’s Chief Executive Officer, commented,
“We have executed well and made considerable progress during our
first year as a public company. This result is a solid testament to
the strong performance of our purpose-built, integrated,
multi-dimensional adaptive business model and the resilience of our
workforce. Our strategic acquisition of the 757 fleet in 2020 has
proven to be a strong contributor to our consolidated results,
which we expect to continue through 2022 and into 2023. This is
supported by an improving commercial backdrop, and continued
business development progress across the Company.”
Finazzo concluded, “We also redeemed all of our outstanding
public warrants at the end of the year in a cashless redemption,
further strengthening our financial profile and positioning us to
take advantage of upcoming organic and inorganic
opportunities.”
Fourth Quarter 2021 Results of Operations
AerSale reported revenue of $116.8 million for the fourth
quarter of 2021, which included $73.1 million of flight equipment
sales. Revenue in the fourth quarter of 2020 was $49.4 million and
did not include any flight equipment sales.
AMS revenue increased by $76.2 million to $93.6 million in the
fourth quarter of 2021 primarily on account of the above-mentioned
flight equipment sales. Consumption of USM parts for maintenance
strengthened through the quarter as airlines returned aircraft into
operation against the backdrop of an upswing in air travel,
especially prior to the spread of the Omicron variant.
Revenue from our Technical Operations (“TechOps”) segment was
down 27.5% to $23.2 million in the fourth quarter of 2021, largely
due to the reallocation of resources at the Company’s Goodyear MRO
facility dedicated to the Company’s Boeing 757 passenger-to-cargo
conversions.
Gross margin was 37.8% in the fourth quarter of 2021 compared to
26.6% in the fourth quarter of 2020. The increase was a result of a
greater mix of high-margin flight equipment sales.
Selling, general and administrative expenses were $24.4 million
in the fourth quarter of 2021 compared to $15.0 million in the
fourth quarter of 2020, mainly on account of higher payroll
expenses, which included non-cash stock-based compensation of $3.8
million and $1.0 million in the fourth quarter of 2021 and 2020,
respectively. In addition, the fourth quarter of 2020 included a
$1.9 million credit related to merger costs previously expensed.
The Company did not receive any Payroll Support Program proceeds
during the fourth quarters of 2021 and 2020.
Income from operations was $19.8 million in the fourth quarter
of 2021 versus a loss from operations of $27 thousand in the fourth
quarter of 2020.
Income tax expense was $2.9 million in the fourth quarter of
2021 compared to a benefit of $0.9 million in the fourth quarter of
2020.
GAAP net income was $11.2 million for the fourth quarter of 2021
compared to $0.3 million in the fourth quarter of 2020. Adjusted
for non-cash stock-based compensation, inventory write-offs,
unrealized loss on investment, and mark-to-market adjustments to
the warrant liability, Adjusted Net Income was $22.3 million.
Diluted earnings per share was $0.21 for the fourth quarter of
2021. Adjusted for the impact of the change in FV of the warrant
liability, stock-based compensation, unrealized loss on investment,
and inventory write-offs, diluted earnings per share was $0.32 for
the fourth quarter of 2021. Diluted earnings per share for the
fourth quarter of 2021 is not comparable to the fourth quarter of
2020 due to the public listing of AerSale on December 23, 2020.
Adjusted EBITDA in the fourth quarter of 2021 was $28.6 million,
or 24.5% of revenue, versus $3.0 million, or 6.1% of revenue in the
fourth quarter of 2020. Higher revenue as well as a favorable sales
mix comprising a larger portion of higher margin flight equipment
sales benefitted adjusted EBITDA during the fourth quarter of
2021.
Full Year 2021 Results of Operations
For the full year 2021, AerSale reported consolidated revenue of
$340.4 million, which included flight equipment sales of $156.9
million, compared to $208.9 million in full year 2020, which
included $3.1 million of flight equipment sales.
AMS revenue was $232.0 million in full year 2021 compared to
$98.8 million in full year 2020. The increase was primarily the
result of higher flight equipment sales, partially offset by lower
leasing revenues due to a lease return payment recognized in the
prior year and lower leasing volume as three passenger Boeing 747
leases ended as scheduled at the end of 2020. Sales of engine parts
also increased during the year.
Revenue from TechOps was 1.6% lower at $108.4 million in 2021.
Full year segment revenue was unfavorably impacted by the
reallocation of resources to the Company’s cargo conversion
program, partially offset by higher revenue from rehabilitation and
recommissioning of aircraft at the Company’s aircraft MRO
facilities in Roswell and increased volume at the Company’s
component MROs.
AerSale is on track to monetize the rest of its Boeing 757
investment through 2022 and 2023. The Company expects to benefit
from a pickup in MRO volume due to the ongoing recommissioning of
commercial aircraft and greater demand for USM parts consumption
for overhaul activity.
Gross margin was 35.1% in 2021 compared to 25.3% in 2020, which
was primarily driven by the change in sales mix during the year as
noted previously.
Selling, general and administrative expenses, net of the Payroll
Support Program proceeds, were $77.5 million in 2021 compared to
$55.6 million in 2020. An uptick in payroll, public company costs,
and increased support costs related to the Boeing 757 package drove
the increase in selling, general and administrative expenses.
AerSale received $14.8 million and $12.7 million in Payroll Support
Program proceeds during 2021 and 2020, respectively. In addition,
the Company incurred $12.7 million of non-cash stock-based
compensation within payroll expenses in 2021, compared to $1.0
million recognized in 2020.
Income from operations was $56.7 million in 2021 versus $11.3
million in 2020.
Income tax expense was $11.7 million in 2021 compared to $1.7
million in 2020.
GAAP net income was $36.1 million in 2021 compared to $8.1
million in 2020. Adjusted for non-cash loss on investment,
stock-based compensation, inventory write-offs, unrealized loss on
investment, and mark-to-market adjustments to the warrant
liability, Adjusted Net Income was $63.6 million.
Adjusted EBITDA for 2021 was $89.3 million, or 26.2% of sales,
compared to adjusted EBITDA of $51.5 million, or 24.7% of sales, in
2020. The margin expansion was largely attributable to high-margin
flight equipment sales, the impact of which was partially offset by
lower leasing revenues as a lease return payment was recognized in
the prior year. The Company’s margin profile also continued to
benefit from the ongoing higher margin aircraft storage and related
maintenance activities. Adjusted EBITDA benefitted from $14.8
million in Payroll Support Program proceeds during 2021, while the
corresponding benefit in 2020 was $12.7 million.
Martin Garmendia, AerSale’s Chief Financial Officer, said: “Our
internal adjustments and superior execution in 2021 against the
backdrop of the pandemic have yielded success. In addition to being
more resilient, we are also on a stronger operational and financial
footing now. We have thrived in this challenging commercial
aviation market with the diversity of our revenue sources creating
a counter-cyclical hedge. We look forward to generating internal
and external stakeholder value as we seek to achieve our goals over
the next few years.”
2022 Guidance
AerSale expects revenue of $420 - $450 million and adjusted
EBITDA of $80 - $90 million in 2022. In providing this guidance,
the Company is mindful that recent geopolitical events related to
the Russian invasion of Ukraine may impact the global commercial
aerospace industry and related macro environment, including, and
not limited to, supply chain disruptions, escalating sanctions, and
an impact on flight activity due to higher fuel prices. Given the
recency of these events and the unpredictability of how their
impact may ultimately unfold, AerSale has not specifically taken
these factors in providing this guidance beyond taking into
consideration known impacts that the Company has already identified
and adjusted for.
Further, this outlook is based on an improvement in the
Company’s AMS segment, ongoing demand for its on-airport MRO
services, accelerating demand in cargo and E-Commerce markets, and
continued requests for passenger-to-freighter conversions and other
TechOps products and services. AerSale continues to make progress
on the FAA certification of its innovative AerAware product. The
Company is progressing toward certification, but labor constraints
have impacted the timely completion of software validation needed
for certification until the second quarter of 2022. While AerSale
remains confident that certification will be completed in 2022, it
has only included modest AerAware sales in its guidance for 2022 to
account for the ramp-up phase to commercialize this product once
the Supplemental Type Certificate for AerAware is issued to AerSale
by the FAA.
The ongoing and continued monetization of the Boeing 757 fleet
acquisition is expected to be the predominant driver of the AMS
segment. AerSale expects to sell the remaining Boeing 757s as
converted freighters in 2022 and 2023 as a result of strong demand
for cargo converted aircraft.
Conference Call Information
The Company will host a conference call today, March 14, 2022 at
4:30 pm Eastern Time to discuss these results. A live webcast will
also be available at https://ir.aersale.com/news-events/events.
Participants may access the call at 1-877-407-3982, international
callers may use 1-201-493-6780, and request to join the AerSale
Corporation earnings call.
A telephonic replay will be available shortly after the
conclusion of the call and until March 28, 2022. Participants may
access the replay at 1-844-512-2921, international callers may use
1-412-317-6671, and enter access code 13727622. An archived replay
of the call will also be available on the Investors portion of the
AerSale website at https://ir.aersale.com/.
Non-GAAP Financial Measures
This press release includes non-GAAP financial measures,
including adjusted EBITDA, adjusted Net Income, and adjusted
diluted Earnings per Share. AerSale defines adjusted EBITDA as net
income (loss) after giving effect to interest expense, depreciation
and amortization, income tax expense (benefit), and other
non-recurring or unusual items. Adjusted Net Income is defined as
net income (loss) after giving effect to mark-to-market adjustments
relating to our Private Warrants, non-cash stock-based compensation
expense and other non-recurring or unusual items. Adjusted diluted
earnings per share also exclude these material non-recurring or
unusual items.
AerSale believes these non-GAAP measures of financial results
provide useful information to management and investors regarding
certain financial and business trends relating to AerSale’s
financial condition and results of operations. AerSale’s management
uses certain of these non-GAAP measures to compare AerSale’s
performance to that of prior periods for trend analyses and for
budgeting and planning purposes. These non-GAAP measures should not
be construed as an alternative to net income or net income margin
as an indicator of operating performance or as an alternative to
cash flow provided by operating activities as a measure of
liquidity (each as determined in accordance with GAAP).
You should review AerSale’s audited financial statements, and
not rely on any single financial measure to evaluate AerSale’s
business. Other companies may calculate adjusted EBITDA, adjusted
Net Income, or Adjusted diluted earnings per share differently, and
therefore AerSale’s adjusted EBITDA, adjusted Net Income, or
adjusted diluted earnings per share measures may not be directly
comparable to similarly titled measures of other companies.
Reconciliations of Net Income, the Company’s closest GAAP
measure, to adjusted EBITDA, adjusted Net Income, and adjusted
diluted Earnings per Share, are outlined in the tables below
following the Company’s consolidated financial statements. A
reconciliation of non-GAAP adjusted EBITDA guidance to net income,
the most directly comparable GAAP measure, has not been provided
due to the lack of predictability regarding the various reconciling
items such as the provision for income taxes and depreciation and
amortization, which are expected to have a material impact on these
measures and cannot be reasonably predicted without unreasonable
efforts.
Fourth Quarter and Full Year 2021 Financial Results
AERSALE CORPORATION
CONSOLIDATED BALANCE SHEET
(in thousands, except per share
data)
December 31,
December 31,
2021
2020
Current assets:
Cash and cash equivalents
$
130,188
$
29,317
Accounts receivable, net of allowance for
doubtful accounts of $1,692 and $1,652 as of December 31, 2021 and
December 31, 2020
42,571
50,215
Inventory:
Aircraft, airframes, engines, and parts,
net
81,759
85,192
Advance vendor payments
14,287
6,205
Due from related party
-
474
Deposits, prepaid expenses, and other
current assets
2,724
7,560
Total current assets
271,529
178,963
Fixed assets:
Aircraft and engines held for lease,
net
73,364
86,844
Property and equipment, net
7,350
7,839
Inventory:
Aircraft, airframes, engines, and parts,
net
77,534
55,463
Deferred income taxes
10,013
5,708
Deferred financing costs, net
999
367
Deferred customer incentives and other
assets, net
598
271
Due from related party
-
5,450
Goodwill
19,860
19,860
Other intangible assets, net
26,238
28,364
Total assets
$
487,485
$
389,129
Current liabilities:
Accounts payable
$
19,967
$
16,364
Accrued expenses
8,424
8,576
Income tax payable
3,443
1,324
Lessee and customer purchase deposits
33,212
2,820
Deferred revenue
2,860
2,595
Total current liabilities
67,906
31,679
Long-term lease deposits
2,053
1,145
Maintenance deposit payments and other
liabilities
3,403
3,664
Deferred income taxes, net
1,113
—
Warrant liability
4,131
1,186
Total liabilities
78,606
37,674
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.0001 par value.
Authorized 200,000,000 shares; issued and outstanding 51,673,099
and 41,046,216 shares
5
4
Additional paid-in capital
313,901
292,593
Retained earnings
94,973
58,858
Total equity
408,879
351,455
Total liabilities and stockholders’
equity
$
487,485
$
389,129
AERSALE CORPORATION
CONSOLIDATED STATEMENTS OF
OPERATIONS
(in thousands, except per share
data)
(Unaudited)
Three Months Ended December
31,
Twelve Months Ended December
31,
2021
2020
2021
2020
Revenue:
Products
$
84,967
$
11,664
$
209,881
$
49,390
Leasing
10,033
8,012
30,657
55,649
Services
21,783
29,706
99,899
103,899
Total revenue
116,783
49,382
340,437
208,938
Cost of sales and operating expenses:
Cost of products
54,328
8,683
139,475
49,890
Cost of leasing
2,137
2,928
9,804
24,244
Cost of services
16,131
24,646
71,766
82,015
Total cost of sales
72,596
36,257
221,045
156,149
Gross profit
44,187
13,125
119,392
52,789
Selling, general, and administrative
expenses
24,419
15,021
77,498
55,635
Payroll support program proceeds
-
-
(14,768
)
(12,693
)
Transaction costs incurred
-
(1,869
)
-
(1,436
)
Income from operations
19,768
(27
)
56,662
11,283
Other income (expenses):
Interest expense, net
(230
)
(338
)
(980
)
(1,645
)
Other income, net
200
136
458
494
Unrealized loss on investment
(5,421
)
(5,421
)
-
Change in fair value of warrant
liability
(210
)
(388
)
(2,945
)
(388
)
Total other expenses
(5,661
)
(590
)
(8,888
)
(1,539
)
(Loss) income before income tax
provision
14,107
(617
)
47,774
9,744
Income tax expense
(2,922
)
870
(11,659
)
(1,650
)
Net (loss) income
$
11,185
$
253
$
36,115
$
8,094
(Loss) earnings per share - basic
$
0.24
$
0.06
$
0.84
$
7.85
(Loss) earnings per share - diluted
$
0.21
$
0.06
$
0.76
$
7.39
AERSALE CORPORATION
CONSOLIDATED STATEMENTS OF CASH
FLOWS
(in thousands)
(Unaudited)
Years ended December
31,
2021
2020
Cash flows from operating activities:
Net income
$
36,115
$
8,094
Adjustments to reconcile net income to net
cash provided by (used in) operating activities:
Depreciation and amortization
12,998
24,223
Amortization of debt issuance costs
494
740
Inventory reserve
6,942
13,651
Impairment of aircraft held for lease
-
3,036
Provision for doubtful accounts
212
212
Deferred income taxes
(3,192
)
22
Change in fair value of warrant
liability
2,945
388
Stock-based compensation
12,721
1,042
Unrealized loss on investment
5,421
-
Changes in operating assets and
liabilities, net of acquisition:
Accounts receivable
3,868
(2,587
)
Inventory
(35,672
)
(55,275
)
Deposits, prepaid expenses, and other
current assets
5,475
3,374
Deferred customer incentives and other
assets
(333
)
56
Advance vendor payments
(8,090
)
(2,958
)
Accounts payable
3,603
(801
)
Income tax payable
2,157
1,324
Accrued expenses
(1,280
)
(1,697
)
Deferred revenue
265
(5,894
)
Lessee and customer purchase deposits
34,690
1,776
Other liabilities
(260
)
(957
)
Net cash provided by (used in) operating
activities
79,079
(12,231
)
Cash flows from investing activities:
Business acquisition
-
(16,976
)
Proceeds from sale of assets
17,095
3,100
Acquisition of aircraft and engines held
for lease, including capitalized cost
(2,383
)
(5,128
)
Purchase of property and equipment
(1,508
)
(2,137
)
Net cash provided by (used in) investing
activities
13,204
(21,141
)
Cash flows from financing activities:
Repayments of 8% Senior Secured Notes
-
(3,424
)
Proceeds from Revolving Credit
Facility
-
96,726
Repayments of Revolving Credit
Facility
-
(96,726
)
Cash paid for employee taxes on
withholding shares
(694
)
-
Proceeds from exercise of warrants
9,282
-
Proceeds from Merger
-
48,608
Net cash provided by (used in) financing
activities
8,588
45,184
Cash flows from discontinued
operations:
Net cash provided by operating
activities
-
-
Net cash provided by discontinued
operations
-
-
Increase (decrease) in cash and cash
equivalents
100,871
11,812
Cash and cash equivalents, beginning of
period
29,317
17,505
Cash and cash equivalents, end of
period
$
130,188
$
29,317
Supplemental disclosure of cash
activities
Income taxes
8,340
2,650
Interest
595
855
Supplemental disclosure of noncash
investing activities
Reclassification of aircraft and aircraft
engines inventory to (from) equipment held for lease, net
(7,002
)
6,228
Reclassification of due from related party
to deposits, prepaid expenses and other current assets
5,421
-
AERSALE CORPORATION
Adjusted EBITDA, Net Income and
Diluted EPS Reconciliation Table (In ‘000s)
(Unaudited)
Three months ended December
31,
Twelve months ended December
31,
2021
% of Total Revenue
2020
% of Total Revenue
2021
% of Total Revenue
2020
% of Total Revenue
Reported Net Income/(Loss)
11,185
9.6
%
253
0.5
%
36,115
10.6
%
8,094
3.9
%
Addbacks:
Inventory Write-Off
1,640
1.4
%
-
0.0
%
6,416
1.9
%
15,924
7.6
%
Loss on Investment
5,421
4.6
%
-
0.0
%
5,421
1.6
%
-
0.0
%
Change in FV of Warrant Liability
210
0.2
%
388
0.8
%
2,945
0.9
%
388
0.2
%
Stock Compensation
3,822
3.3
%
1,042
2.1
%
12,721
3.7
%
1,042
0.5
%
Transaction Costs
-
0.0
%
(1,869
)
(3.8
%)
-
0.0
%
(1,436
)
(0.7
%)
Adjusted Net Income (loss)
22,278
19.1
%
(186
)
-0.4
%
63,618
18.7
%
24,012
11.5
%
Interest Expense
230
0.2
%
338
0.7
%
980
0.3
%
1,645
0.8
%
Income Tax Expense (Benefit)
2,922
2.5
%
(870
)
(1.8
%)
11,659
3.4
%
1,650
0.8
%
Depreciation and Amortization
3,130
2.7
%
3,710
7.5
%
12,998
3.8
%
24,223
11.6
%
Adjusted EBITDA
28,560
24.5
%
2,992
6.1
%
89,255
26.2
%
51,530
24.7
%
Reported Diluted EPS
0.21
0.06
0.76
7.39
Addbacks:
Inventory Write-Off
0.03
-
0.14
14.54
Loss on Related Party Investment
0.11
-
Change in FV of warrant liability
0.00
0.09
0.06
0.35
Stock-based compensation
0.07
0.24
0.27
0.95
Transaction Costs
-
(0.44
)
-
(1.31
)
Adjusted Diluted EPS
0.31
(0.05
)
1.34
21.92
Forward Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including without
limitation statements regarding our anticipated financial
performance, including all statements set forth in the “2022
Guidance” section above; our growth trajectory; the impact of
investments in our Boeing 757 program on our financial performance;
our ability to sell our aircraft on the timelines we anticipate;
the expected operating capacity of our MRO facilities and demand
for such services; expectations of market recovery and
recommissioning of aircraft; the expected commencement date of
sales of our AerAware product; and our anticipated revenue split
between our two segments. AerSale’s actual results may differ from
their expectations, estimates and projections and consequently, you
should not rely on these forward-looking statements as predictions
of future events. Words such as “expect,” “estimate,” “project,”
“budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,”
“will,” “could,” “should,” “believes,” “predicts,” “potential,”
“continue,” and similar expressions are intended to identify such
forward-looking statements. Many factors could cause actual future
events to differ materially from the forward-looking statements in
this presentation, including without limitation, the impact of the
COVID-19 pandemic; factors adversely impacting the commercial
aviation industry; events related to the war in Ukraine including
economic and trade sanctions; the fluctuating market value of our
products; our ability to repossess mid-life commercial aircraft and
engines; our ability to comply with stringent government
regulation; the shortage of skilled personnel, including as a
result of work stoppages; the highly competitive nature of the
markets in which we operate; and risks associated with our
international operations, including geopolitical events such as the
Russian invasion of the Ukraine. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the “Risk Factors” section of the Company's most recent Annual
Report on Form 10-K filed with the Securities and Exchange
Commission ("SEC"), and its other filings with the SEC, including
its subsequent quarterly reports on Form 10-Q. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and AerSale Corporation assumes no obligation and does not intend
to update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise, except as
required by law.
About AerSale
AerSale serves airlines operating large jets manufactured by
Boeing, Airbus and McDonnell Douglas and is dedicated to providing
integrated aftermarket services and products designed to help
aircraft owners and operators to realize significant savings in the
operation, maintenance and monetization of their aircraft, engines,
and components. AerSale’s offerings include: Aircraft &
Component MRO, Aircraft and Engine Sales and Leasing, Used
Serviceable Material sales, and internally developed ‘Engineered
Solutions’ to enhance aircraft performance and operating economics
(e.g. AerSafe™, AerTrak™, and now AerAware™).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220314005640/en/
Media: For more information about AerSale, please visit
our website: www.AerSale.com. Follow us on: LinkedIn | Twitter |
Facebook | Instagram
AerSale: Craig Wright Telephone: (305) 764-3200 Email:
media.relations@aersale.com
Investors: AerSale: AersaleIR@icrinc.com
AerSale (NASDAQ:ASLE)
Historical Stock Chart
From Aug 2024 to Sep 2024
AerSale (NASDAQ:ASLE)
Historical Stock Chart
From Sep 2023 to Sep 2024