Air Lease Corp Q1 profit lower due to increased interest expenses from borrowed funds for aircraft purchases.

Air Lease Corp reported lower-than-expected Q1 profit due to increased interest expenses from borrowed funds used for aircraft purchases. Interest payments rose 19.8% to $181.6m as the US Federal Reserve maintained high interest rates. Although Q1 revenue increased 4.3% to $663.3m, it fell short of analyst expectations. Despite this, Air Lease remains bullish on jet demand due to aircraft shortage and rising values.