Air Lease Corporation, a global aircraft leasing company with a fleet of 40 aircraft, announced terms for its IPO on Monday. The Los Angeles, CA-based company plans to raise $663 million by offering 25 million shares at a price range of $25 to $28. At the mid-point of the proposed range, the company will command a market value of $2.4 billion. Air Lease Corporation, which was founded in 1973 and booked $58 million in sales last year, plans to list on the NYSE under the symbol AL. J.P. Morgan and Credit Suisse are the lead underwriters on the deal, which is expected to price during the week of April 18.
