Air Lease faces uncertainty due to Boeing labor strike

Air Lease Corporation (NYSE:AL) announced on September 16, 2024, that it has been informed by The Boeing Company about a labor strike initiated by Boeing’s union factory workers.

Consequently, Air Lease is unable to estimate the duration of the strike or its impact on Boeing's aircraft deliveries.

The company had expected to receive 12 Boeing aircraft, including 5 Boeing 737 MAX and 7 Boeing 787, for the remainder of 2024.

Prior to the strike, the company had already acquired 2 Boeing 737 MAX and 3 Boeing 787 aircraft during the third quarter.

However, the ongoing strike has left the delivery dates for the remaining 7 aircraft in limbo, disrupting Air Lease's acquisition schedule and financial projections for 2024.

The duration of the strike and its full impact on Air Lease’s order book with Boeing remains unclear at this stage.