Air Lease (AL) 10-Q 7 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	7-May-15
Document and Entity Information
Entity Registrant Name	AIR LEASE CORP
Entity Central Index Key	1487712
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		102,578,955
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Assets
Cash and cash equivalents	$210,156	$282,819
Restricted cash	16,979	7,469
Flight equipment subject to operating leases	10,443,320	9,832,421
Less accumulated depreciation	-969,204	-878,617
Flight equipment subject to operating leases, net	9,474,116	8,953,804
Deposits on flight equipment purchases	1,147,637	1,144,603
Other assets	296,350	302,485
Total assets	11,145,238	10,691,180
Liabilities and Shareholders' Equity
Accrued interest and other payables	250,068	190,952
Debt financing, net of discounts and issuance costs	6,954,802	6,630,758
Security deposits and maintenance reserves on flight equipment leases	744,118	698,172
Rentals received in advance	77,065	75,877
Deferred tax liability	334,001	323,359
Total liabilities	8,360,054	7,919,118
Shareholders' Equity
Preferred Stock, $0.01 par value; 50,000,000 shares authorized; no shares issued or outstanding
Paid-in capital	2,213,370	2,215,479
Retained earnings	570,804	555,573
Total shareholders' equity	2,785,184	2,772,062
Total liabilities and shareholders' equity	11,145,238	10,691,180
Class A Common Stock
Shareholders' Equity
Common Stock	1,010	1,010
Total shareholders' equity	1,010	1,010
Class B Non-Voting Common Stock
Shareholders' Equity
Common Stock

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Preferred Stock, par value (in dollars per share)	$0.01	$0.01
Preferred Stock, shares authorized	50,000,000	50,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Class A Common Stock
Common Stock, par value (in dollars per share)	$0.01	$0.01
Common Stock, authorized shares	500,000,000	500,000,000
Common Stock, issued shares	102,558,529	102,392,208
Common Stock, outstanding shares	102,558,529	102,392,208
Class B Non-Voting Common Stock
Common Stock, par value (in dollars per share)	$0.01	$0.01
Common Stock, authorized shares	10,000,000	10,000,000
Common Stock, issued shares	0	0
Common Stock, outstanding shares	0	0

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues
Rental of flight equipment	$269,256	$230,391
Aircraft sales, trading and other	9,059	15,894
Total revenues	278,315	246,285
Expenses
Interest	55,403	44,358
Amortization of debt discounts and issuance costs	7,682	6,490
Interest expense	63,085	50,848
Depreciation of flight equipment	91,012	78,142
Settlement	72,000
Selling, general and administrative	19,098	19,186
Stock-based compensation	3,146	3,400
Total expenses	248,341	151,576
Income before taxes	29,974	94,709
Income tax expense	-10,642	-33,312
Net income	$19,332	$61,397
Net income per share of Class A and Class B common stock:
Basic (in dollars per share)	$0.19	$0.60
Diluted (in dollars per share)	$0.19	$0.57
Weighted-average shares outstanding
Basic (in shares)	102,455,040	101,857,176
Diluted (in shares)	110,558,709	110,037,382

CONSOLIDATED_STATEMENT_OF_SHAR

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (USD $)	Class A Common Stock	Paid-in Capital	Retained Earnings	Total
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2014	$1,010	$2,215,479	$555,573	$2,772,062
Balance (in shares) at Dec. 31, 2014	102,392,208
Increase (Decrease) in Shareholders' Equity
Issuance of common stock upon vesting of restricted stock units		47		47
Issuance of common stock upon vesting of restricted stock units (in shares)	297,255
Stock-based compensation expense		3,146		3,146
Cash dividends (declared $0.04 per share)			-4,101	-4,101
Tax withholdings related to vesting of restricted stock units		-5,302		-5,302
Tax withholdings related to vesting of restricted stock units (in shares)	-130,934
Net income			19,332	19,332
Balance at Mar. 31, 2015	$1,010	$2,213,370	$570,804	$2,785,184
Balance (in shares) at Mar. 31, 2015	102,558,529

CONSOLIDATED_STATEMENT_OF_SHAR1

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2015
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY
Cash dividends declared per share (in dollars per share)	$0.04

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating Activities
Net income	$19,332	$61,397
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of flight equipment	91,012	78,142
Settlement	72,000
Stock-based compensation	3,146	3,400
Deferred taxes	10,642	33,312
Amortization of discounts and debt issuance costs	7,682	6,490
Gain on aircraft sales, trading and other activity	-8,030	-14,430
Changes in operating assets and liabilities:
Other assets	20,005	12,482
Accrued interest and other payables	-7,476	347
Rentals received in advance	1,188	-900
Net cash provided by operating activities	209,501	180,240
Investing Activities
Acquisition of flight equipment under operating lease	-488,175	-176,104
Payments for deposits on flight equipment purchases	-162,660	-137,318
Proceeds from aircraft sales, trading and other activity	102,423	61,854
Acquisition of furnishings, equipment and other assets	-65,174	-49,771
Net cash used in investing activities	-613,586	-301,339
Financing Activities
Issuance of common stock upon exercise of options		390
Cash dividends paid	-4,094	-3,055
Tax withholdings on stock-based compensation	-5,302	-2,054
Net change in unsecured revolving facilities	-231,000	-233,000
Proceeds from debt financings	692,134	520,635
Payments in reduction of debt financings	-144,034	-201,953
Net change in restricted cash	-9,510	10,567
Debt issuance costs	-978	-2,306
Security deposits and maintenance reserve receipts	37,226	34,394
Security deposits and maintenance reserve disbursements	-3,020	-16,614
Net cash provided by financing activities	331,422	107,004
Net decrease in cash	-72,663	-14,095
Cash and cash equivalents at beginning of period	282,819	270,173
Cash and cash equivalents at end of period	210,156	256,078
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest, including capitalized interest of $10,704 and $10,391 at March 31, 2015 and 2014, respectively	62,472	43,256
Supplemental Disclosure of Noncash Activities
Buyer furnished equipment, capitalized interest, deposits on flight equipment purchases and seller financing applied to acquisition of flight equipment and other assets applied to payments for deposits on flight equipment purchases	239,276	74,428
Cash dividends declared, not yet paid	$4,101	$3,059

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Supplemental Disclosure of Cash Flow Information
Cash paid for interest, capitalized interest	$10,704	$10,391

Company_Background_and_Overvie

Company Background and Overview	3 Months Ended
	Mar. 31, 2015
Company Background and Overview
Company Background and Overview
	Note 1. Company Background and Overview
	Air Lease Corporation, together with its subsidiaries (the “Company”, “ALC”, “we”, “our” or “us”), is a leading aircraft leasing company that was founded by aircraft leasing industry pioneer, Steven F. Udvar-Házy. We are principally engaged in purchasing new commercial jet transport aircraft directly from the manufacturers, such as The Boeing Company (“Boeing”) and Airbus S.A.S. (“Airbus”).  We lease these aircraft to airlines throughout the world to generate attractive returns on equity. In addition to our leasing activities, we sell aircraft from our fleet to leasing companies, financial services companies and airlines. We also provide fleet management services to investors and owners of aircraft portfolios for a management fee.

Basis_of_Preparation

Basis of Preparation	3 Months Ended
	Mar. 31, 2015
Basis of Preparation
Basis of Preparation
	Note 2. Basis of Preparation
	The Company consolidates financial statements of all entities in which we have a controlling financial interest, including the accounts of any Variable Interest Entity in which we have a controlling financial interest and for which we are determined to be the primary beneficiary. All material intercompany balances are eliminated in consolidation. The accompanying Consolidated Financial Statements have been prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements.
	The accompanying unaudited consolidated financial statements include all adjustments, including only normal, recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows at March 31, 2015, and for all periods presented. The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the operating results expected for the year ending December 31, 2015. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2014.

Recently_Issued_Accounting_Sta

Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2015
Recently Issued Accounting Standards
Recently Issued Accounting Standards
	Note 3. Recently Issued Accounting Standards
	In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03 (“ASU 2015-03”), “Interest-Imputation of Interest (Subtopic 835-30)”.  The amendments in ASU 2015-03 requires the debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability.  ASU 2015-03 is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period and is applied retrospectively.  Early adoption is permitted for financial statements that have not been previously issued.
	The Company early adopted ASU 2015-03 as of March 31, 2015.  Prior to ASU 2015-03, deferred debt issuance costs were reported on the balance sheet as assets and amortized as interest expense.  The amendments in ASU 2015-03 require debt issuance costs be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability, in the same manner as debt discounts or premiums.  The Consolidated Balance Sheet as of December 31, 2014 has been adjusted to apply the change in accounting principle retrospectively.  There is no effect on the income statement as a result of the change in accounting principle.  Debt issuance costs of $83.6 million previously reported as assets on the Consolidated Balance Sheet as of December 31, 2014 have been reclassified as a direct deduction from the carrying amount of the related debt liability.

Debt_Financing

Debt Financing	3 Months Ended
	Mar. 31, 2015
Debt Financing
Debt Financing
	Note 4. Debt Financing
	The Company’s consolidated debt as of March 31, 2015 and December 31, 2014 are summarized below (in thousands):
		March 31,			December 31,
		2015			2014
	Unsecured
	Senior notes	$	5,177,769		$	4,579,194
	Revolving credit facilities	338,000			569,000
	Term financings	283,025			196,146
	Convertible senior notes	200,000			200,000
	Total unsecured debt financing	5,998,794			5,544,340
	Secured
	Term financings	589,890			636,411
	Warehouse facility	403,451			484,513
	Export credit financing	63,220			64,884
	Total secured debt financing	1,056,561			1,185,808
	Total debt financing	7,055,355			6,730,148
	Less: Debt discounts and issuance costs	(100,553		)	(99,390		)
	Debt financing, net of discounts and issuance costs	$	6,954,802		$	6,630,758
	The Company’s secured obligations as of March 31, 2015 and December 31, 2014 are summarized below (in thousands, except number of aircraft which are reflected in units):
		March 31,			December 31,
		2015			2014
	Nonrecourse	$	403,451		$	484,513
	Recourse	653,110			701,295
	Total secured debt financing	$	1,056,561		$	1,185,808
	Number of aircraft pledged as collateral	34			38
	Net book value of aircraft pledged as collateral	$	1,789,097		$	1,935,711
	Senior unsecured notes
	On January 14, 2015, the Company issued $600.0 million in aggregate principal amount of senior unsecured notes due 2022 that bear interest at a rate of 3.75%.
	As of March 31, 2015, the Company had $5.2 billion in senior unsecured notes outstanding.  As of December 31, 2014, the Company had $4.6 billion in senior unsecured notes outstanding.
	Unsecured revolving credit facilities
	In March 2015, the Company increased the aggregate capacity of its Syndicated Unsecured Revolving Credit Facility by $210.0 million to $2.3 billion. The facility continues to accrue interest at a rate of LIBOR plus 1.25% on drawn balances and includes a 0.25% facility fee.
	The total amount outstanding under our unsecured revolving credit facilities was $338.0 million and $569.0 million as of March 31, 2015 and December 31, 2014, respectively.
	Unsecured term financings
	During the three months ended March 31, 2015, the Company entered into a $100.0 million one year unsecured term facility bearing interest at a rate of LIBOR plus 1.00%.
	The outstanding balance on our unsecured term facilities as of March 31, 2015 and December 31, 2014 was $283.0 million and $196.1 million, respectively.
	Warehouse facility
	As of March 31, 2015, the Company had borrowed $403.5 million under the 2010 Warehouse Facility and pledged 15 aircraft as collateral with a net book value of $630.0 million. As of December 31, 2014, the Company had borrowed $484.5 million under the 2010 Warehouse Facility and pledged 18 aircraft as collateral with a net book value of $729.5 million.
	Maturities
	Maturities of debt outstanding as of March 31, 2015 are as follows (in thousands):
	Years ending December 31,
	2015	$	171,577
	2016	954,872
	2017	1,393,510
	2018	1,289,776
	2019	1,104,898
	Thereafter	2,140,722
	Total	$	7,055,355

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies
Commitments and Contingencies
	Note 5. Commitments and Contingencies
	As of March 31, 2015, the Company had commitments to acquire a total of 411 new aircraft scheduled to deliver through 2024.
	In March 2015, the Company entered into definitive agreements with Airbus S.A.S. (“Airbus”) to purchase 57 aircraft which were previously subject to memorandums of understanding. We agreed to purchase 25 A330neo aircraft, 30 A321neo LR aircraft, an incremental A350 aircraft and an additional A321-200 aircraft. Deliveries of the aircraft are scheduled to commence in 2016 and continue through 2023.
	Scheduled deliveries of the 411 new aircraft the Company has committed to purchase are as follows:
	Aircraft Type		2015		2016	2017	2018	2019	Thereafter	Total
	Airbus A320/A321-200(1)		6		1	—	—	—	—	7
	Airbus A320/321neo(2)		—		3	12	17	27	81	140
	Airbus A330-800/900neo		—		—	—	5	5	15	25
	Airbus A350-900/1000		—		—	—	2	2	22	26
	Boeing 737-800		17		15	11	—	—	—	43
	Boeing 737-8/9 MAX		—		—	—	8	18	78	104
	Boeing 777-300ER		6		6	2	—	—	—	14
	Boeing 787-9/10		—		3	1	7	7	27	45
	ATR 42/72-600		1		5	1	—	—	—	7
	Total		30		33	27	39	59	223	411
		-1		All of our Airbus A321-200 aircraft will be equipped with sharklets.
		-2		Our Airbus A320/321neo aircraft orders include 30 long-range variants.
	Commitments for the acquisition of these aircraft and other equipment at an estimated aggregate purchase price (including adjustments for inflation) of approximately $32.9 billion at March 31, 2015 are as follows (in thousands):
	Years ending December 31,
	2015		$	1,794,679
	2016		2,371,933
	2017		1,976,016
	2018		3,623,102
	2019		4,737,097
	Thereafter		18,420,914
	Total		$	32,923,741
	We have made non-refundable deposits on the aircraft for which we have commitments to purchase of $1.15 billion and $1.14 billion as of March 31, 2015 and December 31, 2014, respectively, which are subject to manufacturer performance commitments. If we are unable to satisfy our purchase commitments, we may forfeit our deposits. Further, we would be subject to breach of contract claims by our lessees and manufacturers.
	As of March 31, 2015, the Company had a non-binding commitment to acquire up to five A350-1000 aircraft. Deliveries of these aircraft are scheduled to commence in 2022 and continue through 2023.

Net_Earnings_Per_Share

Net Earnings Per Share	3 Months Ended
	Mar. 31, 2015
Net Earnings Per Share
Net Earnings Per Share
	Note 6. Net Earnings Per Share
	Basic net earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock; however, potential common equivalent shares are excluded if the effect of including these shares would be anti-dilutive. The Company’s two classes of common stock, Class A and Class B Non-Voting, have equal rights to dividends and income, and therefore, basic and diluted earnings per share are the same for each class of common stock.  As of March 31, 2015, we did not have any Class B Non-Voting common stock outstanding.
	Diluted net earnings per share takes into account the potential conversion of stock options, restricted stock units, and warrants using the treasury stock method and convertible notes using the if-converted method.  The Company excluded 936,968 and 1,789,586 shares related to restricted stock units for which the performance metric had yet to be achieved as of March 31, 2015 and 2014, respectively.
	The following table sets forth the reconciliation of basic and diluted net income per share (in thousands, except share amounts):
		Three Months Ended
		March 31,
		2015		2014
	Basic net income per share:
	Numerator
	Net income	$	19,332	$	61,397
	Denominator
	Weighted-average common shares outstanding	102,455,040		101,857,176
	Basic net income per share	$	0.19	$	0.60
	Diluted net income per share:
	Numerator
	Net income	$	19,332	$	61,397
	Assumed conversion of convertible senior notes	1,433		1,433
	Net income plus assumed conversions	$	20,765	$	62,830
	Denominator
	Number of shares used in basic computation	102,455,040		101,857,176
	Weighted-average effect of dilutive securities	8,103,669		8,180,206
	Number of shares used in per share computation	110,558,709		110,037,382
	Diluted net income per share	$	0.19	$	0.57

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements
Fair Value Measurements
	Note 7. Fair Value Measurements
	Assets and Liabilities Measured at Fair Value on a Recurring and Non-recurring Basis
	The Company had no assets or liabilities which are measured at fair value on a recurring or non-recurring basis as of March 31, 2015 or December 31, 2014.
	Financial Instruments Not Measured at Fair Value
	The fair value of debt financing is estimated based on the quoted market prices for the same or similar issues, or on the current rates offered to the Company for debt of the same remaining maturities, which would be categorized as a Level 2 measurement in the fair value hierarchy. The estimated fair value of debt financing as of March 31, 2015 was $7.3 billion compared to a book value of $7.1 billion. The estimated fair value of debt financing as of December 31, 2014 was $7.0 billion compared to a book value of $6.7 billion.
	The following financial instruments are not measured at fair value on the Company’s consolidated balance sheet at March 31, 2015, but require disclosure of their fair values: cash and cash equivalents and restricted cash. The estimated fair value of such instruments at March 31, 2015 approximates their carrying value as reported on the consolidated balance sheet.  The fair value of all these instruments would be categorized as Level 1 of the fair value hierarchy.

Stockbased_Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2015
Stock-based Compensation
Stock-based Compensation
	Note 8. Stock-based Compensation
	On May 7, 2014, the stockholders of the Company approved the Air Lease Corporation 2014 Equity Incentive Plan (the “2014 Plan”). Upon approval of the 2014 Plan, no new awards may be granted under the Amended and Restated 2010 Equity Incentive Plan (the “2010 Plan”). As of March 31, 2015, the number of stock options (“Stock Options”) and restricted stock units (“RSUs”) authorized under the 2014 Plan is approximately 6,648,524, which includes 1,648,524 shares which were previously reserved for issuance under the 2010 Plan. Options are generally granted for a term of 10 years and generally vest over a three year period. The Company has issued RSUs with three different vesting criteria: those RSUs that vest based on the attainment of book value goals, those RSUs that vest based on the attainment of Total Shareholder Return (“TSR”) goals and time based RSUs that vest ratably over a time period of three years. The book value RSUs generally vest ratably over three years, if the performance condition has been met. Book value RSUs for which the performance metric has not been met are forfeited. The TSR RSUs vest at the end of a three year period. The number of TSR RSUs that will ultimately vest is based upon the percentile ranking of the Company’s TSR among a peer group. The number of shares that will ultimately vest will range from 0% to 200% of the RSUs initially granted depending on the extent to which the TSR metric is achieved.
	The Company recorded $3.1 million and $3.4 million of stock-based compensation expense for the three months ended March 31, 2015 and 2014, respectively.
	Stock Options
	A summary of stock option activity for the three month period ended March 31, 2015 follows:
			Shares		Exercise		Remaining	Aggregate
					Price		Contractual Term	Intrinsic Value
							(in years)	(in thousands)(1)
	Balance at December 31, 2014		3,312,158		$	20.40	5.49	$	46,077
	Granted		—		$	—	—	$	—
	Exercised		—		$	—	—	$	—
	Forfeited/canceled		—		$	—	—	$	—
	Balance at March 31, 2015		3,312,158		$	20.40	5.24	$	57,438
	Vested and exercisable as of March 31, 2015		3,312,158		$	20.40	5.24	$	57,438
		-1		The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the closing stock price of our Class A common stock as of the respective date.
	The Company’s outstanding stock options fully vested on June 30, 2013 and there were no unrecognized compensation costs related to outstanding stock options as of March 31, 2015.  As a result, there was no stock-based compensation expense related to stock options for the three months ended March 31, 2015 and the three months ended March 31, 2014.
	The following table summarizes additional information regarding exercisable and vested stock options at March 31, 2015:
			Stock options exercisable
			and vested
	Range of exercise prices		Number of		Weighted-
			Shares		Average
					Remaining Life
					(in years)
	$20.00		3,162,158		5.21
	$28.80		150,000		6.07
	$20.00 - $28.80		3,312,158		5.24
	Restricted Stock Units
	Compensation cost for stock awards is measured at the grant date based on fair value and recognized over the vesting period. The fair value of book value and time based RSUs is determined based on the closing market price of the Company’s Class A common stock on the date of grant, while the fair value of TSR RSUs is determined at the grant date using a Monte Carlo simulation model. Included in the Monte Carlo simulation model were certain assumptions regarding a number of highly complex and subjective variables, such as expected volatility, risk-free interest rate and expected dividends. To appropriately value the award, the risk-free interest rate is estimated for the time period from the valuation date until the vesting date and the historical volatilities were estimated based on a historical timeframe equal to the time from the valuation date until the end date of the performance period.
	During the three months ended March 31, 2015, the Company granted 395,584 RSUs of which 174,784 are TSR RSUs. The following table summarizes the activities for our unvested RSUs for the three months ended March 31, 2015:
			Unvested Restricted Stock Units
			Number of		Weighted-Average
			Shares		Grant-Date
					Fair Value
	Unvested at December 31, 2014		969,225		$	33.51
	Granted		395,584		45.26
	Vested		(296,073	)	27.36
	Forfeited/canceled		(85,768	)	25.13
	Unvested at March 31, 2015		982,968		$	40.82
	Expected to vest after March 31, 2015(1)		970,840		41.55
		-1		RSUs expected to vest reflect an estimated forfeiture rate.
	The Company recorded $3.1 million and $3.4 million of stock-based compensation expense related to RSUs for the three months ended March 31, 2015 and 2014, respectively.
	As of March 31, 2015, there was $26.9 million of unrecognized compensation cost, adjusted for estimated forfeitures, related to unvested RSUs granted to employees. Total unrecognized compensation cost will be adjusted for future changes in estimated forfeitures and is expected to be recognized over a weighted-average remaining period of 2.3 years.

Investments

Investments	3 Months Ended
	Mar. 31, 2015
Investments
Investments
	Note 9. Investments
	On November 4, 2014, a wholly owned subsidiary of the Company entered into an agreement with a co-investment vehicle arranged by Napier Park to participate in a joint venture formed as a Delaware limited liability company—Blackbird Capital I, LLC (‘‘Blackbird’’) for the purpose of investing in commercial aircraft and leasing them to airlines around the globe. We provide management services to the joint venture for a fee based upon aircraft assets under management. The Company’s non-controlling interest in Blackbird is 9.5% and it is accounted for as an investment under the equity method of accounting.  During the three months ended March 31, 2015, we recognized $1.7 million of gains on the sale of aircraft to Blackbird.  During the year ended December 31, 2014, the Company recognized $9.0 million of gains on the sale of aircraft to Blackbird. As of March 31, 2015 and December 31, 2014, the amount due from Blackbird to the Company are $527,000 and $454,000, respectively. The Company’s investment in Blackbird was $11.7 million and $10.1 million as of March 31, 2015 and December 31, 2014, respectively.

Litigation

Litigation	3 Months Ended
	Mar. 31, 2015
Litigation
Litigation
	Note 10. Litigation
	On April 24, 2012, the Company was named as a defendant in a complaint filed in Superior Court of the State of California for the County of Los Angeles by American International Group, Inc. (“AIG”) and International Lease Finance Corporation (“ILFC”) (the “AIG/ILFC Complaint”). The complaint also named as defendants certain executive officers and employees of the Company.  AIG withdrew as a plaintiff on all but one cause of action that was not asserted against the Company. Among other things, the complaint, as amended, alleged breach of fiduciary duty, misappropriation of trade secrets, the wrongful recruitment of ILFC employees, and the wrongful diversion of potential ILFC leasing opportunities. The complaint sought an unspecified amount of damages and injunctive relief.
	On August 15, 2013, the Company filed a cross-complaint against ILFC and AIG (the “Cross-Complaint”). The Cross-Complaint, as amended, alleged breach of contract for the sale of goods in connection with an agreement entered into by AIG, acting on behalf of ILFC, in January 2010 to sell 25 aircraft to the entity that became Air Lease Corporation. The Cross-Complaint sought compensatory damages in excess of $500 million.
	The matters set forth in the AIG/ILFC Complaint and the Cross-Complaint are collectively referred to as the “litigation”.
	On April 22, 2015, the Company and certain executive officers and employees of the Company entered into a settlement agreement and release (the “Settlement Agreement”) with AIG, ILFC, and ILFC’s parent, AerCap Holdings N.V., to settle all ongoing litigation. Pursuant to the terms of the Settlement Agreement, (i) all claims and counterclaims asserted in the litigation will be dismissed with prejudice, (ii) each of the parties to the litigation will receive full releases of all claims and counterclaims asserted in the litigation, and (iii) the Company will pay AIG the sum of $36.0 million no later than June 30, 2015, and an additional sum of $36.0 million no later than September 30, 2015. The Company has accrued for these payments in accrued interest and other payables on the Consolidated Balance Sheet as of March 31, 2015 and recorded settlement expense of $72.0 million on the Consolidated Statement of Income for the three months ended March 31, 2015. The parties to the Settlement Agreement agreed that the settlement was intended solely as a compromise of disputed claims, and that no party admits any wrongdoing or liability with respect to any matter alleged in the litigation.  On April 24, 2015, the parties filed a request for dismissal which was entered on April 29, 2015.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions
Related Party Transactions
	Note 11. Related Party Transactions
	The Company has a Master Servicing Agreement dated October 25, 2013 (“Master Servicing Agreement”) with Commonwealth Bank of Australia and/or its subsidiaries (collectively “Commonwealth Bank”). Under the Master Servicing Agreement we consolidated all of our prior aircraft servicing agreements for the aircraft we manage for Commonwealth Bank. Commonwealth Bank beneficially owns more than 5% of our Class A common stock.
	Under the Master Servicing Agreement, we manage on behalf of Commonwealth Bank or its subsidiaries the leasing and remarketing of aircraft for subsequent leases or for sale. For these services, Commonwealth Bank pays us a percentage of the rent for the aircraft and will pay us a percentage of the proceeds if the aircraft is sold.  As of March 31, 2015, all of the aircraft we manage for Commonwealth Bank are pursuant to the Master Servicing Agreement.  During the quarter ended March 31, 2015, we agreed to manage the lease of an additional aircraft to a third-party pursuant to the Master Servicing Agreement.  We may earn an aggregate of approximately $0.1 million in fees under the Master Servicing Agreement in connection with the management of the additional lease.  As of March 31, 2015, the Company managed a total of 12 aircraft for Commonwealth Bank.
	In addition, Commonwealth Bank is a participant lender in the Syndicated Unsecured Revolving Credit Facility and the 2010 Warehouse Facility. See note 4 of Notes to Consolidated Financial Statements for further details regarding the terms of the financings.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events
Subsequent Events
	Note 12.  Subsequent Events
	On May 6, 2015, our board of directors approved a quarterly cash dividend of $0.04 per share on our outstanding common stock. The dividend will be paid on July 6, 2015 to holders of record of our common stock as of June 15, 2015.

Debt_Financing_Tables

Debt Financing (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Financing
Summary of consolidated debt
	The Company’s consolidated debt as of March 31, 2015 and December 31, 2014 are summarized below (in thousands):
		March 31,			December 31,
		2015			2014
	Unsecured
	Senior notes	$	5,177,769		$	4,579,194
	Revolving credit facilities	338,000			569,000
	Term financings	283,025			196,146
	Convertible senior notes	200,000			200,000
	Total unsecured debt financing	5,998,794			5,544,340
	Secured
	Term financings	589,890			636,411
	Warehouse facility	403,451			484,513
	Export credit financing	63,220			64,884
	Total secured debt financing	1,056,561			1,185,808
	Total debt financing	7,055,355			6,730,148
	Less: Debt discounts and issuance costs	(100,553		)	(99,390		)
	Debt financing, net of discounts and issuance costs	$	6,954,802		$	6,630,758
Schedule of secured obligations
	The Company’s secured obligations as of March 31, 2015 and December 31, 2014 are summarized below (in thousands, except number of aircraft which are reflected in units):
		March 31,			December 31,
		2015			2014
	Nonrecourse	$	403,451		$	484,513
	Recourse	653,110			701,295
	Total secured debt financing	$	1,056,561		$	1,185,808
	Number of aircraft pledged as collateral	34			38
	Net book value of aircraft pledged as collateral	$	1,789,097		$	1,935,711
Schedule of maturities of debt outstanding
	Maturities of debt outstanding as of March 31, 2015 are as follows (in thousands):
	Years ending December 31,
	2015	$	171,577
	2016	954,872
	2017	1,393,510
	2018	1,289,776
	2019	1,104,898
	Thereafter	2,140,722
	Total	$	7,055,355

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies
Schedule of commitments to acquire aircraft
	Aircraft Type		2015		2016	2017	2018	2019	Thereafter	Total
	Airbus A320/A321-200(1)		6		1	—	—	—	—	7
	Airbus A320/321neo(2)		—		3	12	17	27	81	140
	Airbus A330-800/900neo		—		—	—	5	5	15	25
	Airbus A350-900/1000		—		—	—	2	2	22	26
	Boeing 737-800		17		15	11	—	—	—	43
	Boeing 737-8/9 MAX		—		—	—	8	18	78	104
	Boeing 777-300ER		6		6	2	—	—	—	14
	Boeing 787-9/10		—		3	1	7	7	27	45
	ATR 42/72-600		1		5	1	—	—	—	7
	Total		30		33	27	39	59	223	411
		-1		All of our Airbus A321-200 aircraft will be equipped with sharklets.
		-2		Our Airbus A320/321neo aircraft orders include 30 long-range variants.
Schedule of commitments for the acquisition of aircraft and other equipment at an estimated aggregate purchase price
	Commitments for the acquisition of these aircraft and other equipment at an estimated aggregate purchase price (including adjustments for inflation) of approximately $32.9 billion at March 31, 2015 are as follows (in thousands):
	Years ending December 31,
	2015		$	1,794,679
	2016		2,371,933
	2017		1,976,016
	2018		3,623,102
	2019		4,737,097
	Thereafter		18,420,914
	Total		$	32,923,741

Net_Earnings_Per_Share_Tables

Net Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Net Earnings Per Share
Schedule of reconciliation of basic and diluted net income per share
	The following table sets forth the reconciliation of basic and diluted net income per share (in thousands, except share amounts):
		Three Months Ended
		March 31,
		2015		2014
	Basic net income per share:
	Numerator
	Net income	$	19,332	$	61,397
	Denominator
	Weighted-average common shares outstanding	102,455,040		101,857,176
	Basic net income per share	$	0.19	$	0.60
	Diluted net income per share:
	Numerator
	Net income	$	19,332	$	61,397
	Assumed conversion of convertible senior notes	1,433		1,433
	Net income plus assumed conversions	$	20,765	$	62,830
	Denominator
	Number of shares used in basic computation	102,455,040		101,857,176
	Weighted-average effect of dilutive securities	8,103,669		8,180,206
	Number of shares used in per share computation	110,558,709		110,037,382
	Diluted net income per share	$	0.19	$	0.57

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Stock-based Compensation
Summary of stock option activity
			Shares		Exercise		Remaining	Aggregate
					Price		Contractual Term	Intrinsic Value
							(in years)	(in thousands)(1)
	Balance at December 31, 2014		3,312,158		$	20.40	5.49	$	46,077
	Granted		—		$	—	—	$	—
	Exercised		—		$	—	—	$	—
	Forfeited/canceled		—		$	—	—	$	—
	Balance at March 31, 2015		3,312,158		$	20.40	5.24	$	57,438
	Vested and exercisable as of March 31, 2015		3,312,158		$	20.40	5.24	$	57,438
		-1		The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the closing stock price of our Class A common stock as of the respective date.
Summary of additional information regarding exercisable and vested stock options
			Stock options exercisable
			and vested
	Range of exercise prices		Number of		Weighted-
			Shares		Average
					Remaining Life
					(in years)
	$20.00		3,162,158		5.21
	$28.80		150,000		6.07
	$20.00 - $28.80		3,312,158		5.24
Summary of activities for unvested RSUs
			Unvested Restricted Stock Units
			Number of		Weighted-Average
			Shares		Grant-Date
					Fair Value
	Unvested at December 31, 2014		969,225		$	33.51
	Granted		395,584		45.26
	Vested		(296,073	)	27.36
	Forfeited/canceled		(85,768	)	25.13
	Unvested at March 31, 2015		982,968		$	40.82
	Expected to vest after March 31, 2015(1)		970,840		41.55
		-1		RSUs expected to vest reflect an estimated forfeiture rate.

Recently_Issued_Accounting_Sta1

Recently Issued Accounting Standards (Details) (USD $)	Dec. 31, 2014
In Millions, unless otherwise specified
Recently Issued Accounting Standards
Reclassification of debt issuance costs from assets to contra liabilities	$83.60

Debt_Financing_Details

Debt Financing (Details) (USD $)	1 Months Ended	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Jan. 14, 2015
Debt financing
Total debt financing	$7,055,355,000	$7,055,355,000	$6,730,148,000
Less: Debt discounts and issuance costs	-100,553,000	-100,553,000	-99,390,000
Debt financing, net of discounts and issuance costs	6,954,802,000	6,954,802,000	6,630,758,000
Unsecured Debt
Debt financing
Total debt financing	5,998,794,000	5,998,794,000	5,544,340,000
Senior Notes
Debt financing
Total debt financing	5,177,769,000	5,177,769,000	4,579,194,000
Senior Unsecured Notes 3.75 Percent Due 2022
Secured Obligations
Amount issued				600,000,000
Interest rate (as a percent)				3.75%
Revolving Credit Facilities
Debt financing
Total debt financing	338,000,000	338,000,000	569,000,000
Unsecured Revolving Credit Facility
Secured Obligations
Increase in aggregate principal amount of facility	210,000,000	210,000,000
Capacity provided	2,300,000,000	2,300,000,000
Facility fee	0.25%
Unsecured Revolving Credit Facility | LIBOR
Secured Obligations
Interest margin (as a percent)	1.25%
Unsecured Term Financings
Debt financing
Total debt financing	283,025,000	283,025,000	196,146,000
Secured Obligations
Amount issued	100,000,000	100,000,000
Term of debt		1 year
Unsecured Term Financings | LIBOR
Secured Obligations
Interest margin (as a percent)		1.00%
Convertible Senior Notes
Debt financing
Total debt financing	200,000,000	200,000,000	200,000,000
Secured Debt
Debt financing
Total debt financing	1,056,561,000	1,056,561,000	1,185,808,000
Secured Obligations
Nonrecourse	403,451,000	403,451,000	484,513,000
Recourse	653,110,000	653,110,000	701,295,000
Total secured debt financing	1,056,561,000	1,056,561,000	1,185,808,000
Number of aircraft pledged as collateral	34	34	38
Net book value of aircraft pledged as collateral	1,789,097,000	1,789,097,000	1,935,711,000
Secured Term Financings
Debt financing
Total debt financing	589,890,000	589,890,000	636,411,000
Warehouse Facility 2010
Debt financing
Total debt financing	403,451,000	403,451,000	484,513,000
Secured Obligations
Number of aircraft pledged as collateral	15	15	18
Net book value of aircraft pledged as collateral	630,000,000	630,000,000	729,500,000
Export Credit Financing
Debt financing
Total debt financing	$63,220,000	$63,220,000	$64,884,000

Debt_Financing_Details_2

Debt Financing (Details 2) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Maturities
2015	$171,577
2016	954,872
2017	1,393,510
2018	1,289,776
2019	1,104,898
Thereafter	2,140,722
Total	$7,055,355	$6,730,148

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	3 Months Ended	1 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
	item	item
Commitments to acquire aircraft
2015	30
2016	33
2017	27
2018	39
2019	59
Thereafter	223
Total	411
Commitments for the acquisition of the aircraft and other equipment
2015	$1,794,679	1,794,679
2016	2,371,933	2,371,933
2017	1,976,016	1,976,016
2018	3,623,102	3,623,102
2019	4,737,097	4,737,097
Thereafter	18,420,914	18,420,914
Total	32,923,741	32,923,741
Deposits on flight equipment purchases	$1,147,637	1,147,637	$1,144,603
Aircrafts | Airbus
Commitments to acquire aircraft
Total		57
Airbus A320/321-200
Commitments to acquire aircraft
2015	6
2016	1
Total	7
Airbus A320/321neo
Commitments to acquire aircraft
2016	3
2017	12
2018	17
2019	27
Thereafter	81
Total	140
Number of long-range variants	30
Airbus A321neo LR | Airbus
Commitments to acquire aircraft
Total		30
Airbus A330-800/900neo
Commitments to acquire aircraft
2018	5
2019	5
Thereafter	15
Total	25
Airbus A350-900/1000
Commitments to acquire aircraft
2018	2
2019	2
Thereafter	22
Total	26
Airbus A350-1000 | Maximum
Commitments for the acquisition of the aircraft and other equipment
Aircraft to be acquired under non-binding commitment	5
Boeing 737-800
Commitments to acquire aircraft
2015	17
2016	15
2017	11
Total	43
Boeing 737-8/9 MAX
Commitments to acquire aircraft
2018	8
2019	18
Thereafter	78
Total	104
Boeing 777-300ER
Commitments to acquire aircraft
2015	6
2016	6
2017	2
Total	14
Boeing 787-9/10
Commitments to acquire aircraft
2016	3
2017	1
2018	7
2019	7
Thereafter	27
Total	45
ATR 42/72-600
Commitments to acquire aircraft
2015	1
2016	5
2017	1
Total	7
A330neo | Airbus
Commitments to acquire aircraft
Total		25

Net_Earnings_Per_Share_Details

Net Earnings Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
	item
Net Earnings Per Share
Number of classes of common stock	2
Numerator
Net income	$19,332	$61,397
Denominator
Number of shares used in basic computation	102,455,040	101,857,176
Basic net income per share (in dollars per share)	$0.19	$0.60
Numerator
Net income	19,332	61,397
Assumed conversion of convertible senior notes	1,433	1,433
Net income plus assumed conversions	$20,765	$62,830
Denominator
Number of shares used in basic computation	102,455,040	101,857,176
Weighted-average effect of dilutive securities (in shares)	8,103,669	8,180,206
Number of shares used in per share computation	110,558,709	110,037,382
Diluted net income per share (in dollars per share)	$0.19	$0.57
Restricted Stock Units
Anti-dilutive securities
Anti-dilutive securities excluded from the computation of diluted earnings per share (in shares)	936,968	1,789,586

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Recurring basis
Fair Value Measurements
Assets	$0	$0
Liabilities	0	0
Non-recurring basis
Fair Value Measurements
Assets	0	0
Liabilities	$0	$0

Fair_Value_Measurements_Detail1

Fair Value Measurements (Details 2) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Billions, unless otherwise specified
Book Value
Financial Instruments Not Measured at Fair Value
Debt financing	$7.10	$6.70
Level 2
Financial Instruments Not Measured at Fair Value
Debt financing	$7.30	$7

Stockbased_Compensation_Detail

Stock-based Compensation (Details) (USD $)	3 Months Ended		0 Months Ended	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	7-May-14	Dec. 31, 2014
Stock-based Compensation
Stock-based compensation expense	$3,100,000	$3,400,000
Equity Incentive Plan 2010
Stock-based Compensation
Shares included in the authorized shares which was previously reserved for issuance	1,648,524
Shares
Granted (in shares)			0
Equity Incentive Plan 2014
Stock-based Compensation
Number of shares authorized	6,648,524
Employee and Directors Stock Options
Stock-based Compensation
Term of award	10 years
Vesting period	3 years
Unrecognized compensation cost	0
Stock-based compensation expense	0	0
Shares
Balance at the beginning of the period (in shares)	3,312,158
Balance at the end of the period (in shares)	3,312,158			3,312,158
Vested and exercisable at the end of the period (in shares)	3,312,158
Exercise Price
Balance at the beginning of the period (in dollars per share)	$20.40
Balance at the end of the period (in dollars per share)	$20.40			$20.40
Vested and exercisable at the end of the period (in dollars per share)	$20.40
Remaining Contractual Term
Beginning of the period	5 years 2 months 27 days			5 years 5 months 27 days
End of the period	5 years 2 months 27 days			5 years 5 months 27 days
Vested and exercisable at the end of the period	5 years 2 months 27 days
Aggregate Intrinsic Value
Balance at the beginning of the period	46,077,000
Balance at the end of the period	57,438,000			46,077,000
Vested and exercisable at the end of the period	57,438,000
Restricted Stock Units
Stock-based Compensation
Number of different vesting criteria	3
Vesting period	3 years
Unrecognized compensation cost	26,900,000
Stock-based compensation expense	$3,100,000	$3,400,000
Restricted Stock With Book Value Conditions
Stock-based Compensation
Vesting period	3 years
Restricted Stock With Total Shareholder Return Conditions
Stock-based Compensation
Vesting period	3 years
Restricted Stock With Total Shareholder Return Conditions | Minimum
Stock-based Compensation
Percentage of shares vested	0.00%
Restricted Stock With Total Shareholder Return Conditions | Maximum
Stock-based Compensation
Percentage of shares vested	200.00%

Stockbased_Compensation_Detail1

Stock-based Compensation (Details 2) (USD $)	3 Months Ended
	Mar. 31, 2015
Stock options exercisable and vested
Number of Shares	3,312,158
Weighted-Average Remaining Life	5 years 2 months 27 days
$20.00
Stock options exercisable and vested by exercise price range
Exercise price (in dollars per share)	20
Stock options exercisable and vested
Number of Shares	3,162,158
Weighted-Average Remaining Life	5 years 2 months 16 days
$28.80
Stock options exercisable and vested by exercise price range
Exercise price (in dollars per share)	28.8
Stock options exercisable and vested
Number of Shares	150,000
Weighted-Average Remaining Life	6 years 26 days

Stockbased_Compensation_Detail2

Stock-based Compensation (Details 3) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015
Restricted Stock Units
Unvested Restricted Stock Units, Number of Shares
Unvested at the beginning of the period (in shares)	969,225
Granted (in shares)	395,584
Vested (in shares)	-296,073
Forfeited/canceled (in shares)	-85,768
Unvested at the end of the period (in shares)	982,968
Expected to vest after the end of the period (in shares)	970,840
Unvested Restricted Stock Units, Weighted-Average Grant-Date Fair Value
Unvested at the beginning of the period (in dollars per share)	$33.51
Granted (in dollars per share)	$45.26
Vested (in dollars per share)	$27.36
Forfeited/canceled (in dollars per share)	$25.13
Unvested at the end of the period (in dollars per share)	$40.82
Expected to vest after the end of the period (in dollars per share)	$41.55
Stock-based compensation expense
Unrecognized compensation cost	$26.90
Weighted-average period of recognition of unrecognized stock-based compensation cost	2 years 3 months 18 days
Restricted Stock With Total Shareholder Return Conditions
Unvested Restricted Stock Units, Number of Shares
Granted (in shares)	174,784

Investments_Details

Investments (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Nov. 04, 2014
Investments
Gain on sale of aircraft	$8,030,000	$14,430,000
Blackbird
Investments
Percentage of equity ownership				9.50%
Gain on sale of aircraft	1,700,000		9,000,000
Due from affiliate	527,000		454,000
Equity method investment	$11,700,000		$10,100,000

Litigation_Details

Litigation (Details)	Apr. 24, 2012
	item
Litigation
Number of cause of action not asserted against the Company	1

Litigation_Details_2

Litigation (Details 2) (Breach Of Contract For Sale Of Goods, USD $)	1 Months Ended	0 Months Ended
In Millions, unless otherwise specified	Jan. 31, 2010	Aug. 15, 2013
	aircraft
Litigation
Number of aircraft to be sold by ILFC under the agreement	25
Minimum
Litigation
Minimum compensatory damages sought under Cross-Complaint		$500

Litigation_Details_3

Litigation (Details 3) (USD $)	3 Months Ended
	Mar. 31, 2015	Apr. 22, 2015
Litigation
Litigation settlement expense	$72,000,000
Litigation Settlement
Litigation
Loss contingency accrual to be paid in second quarter		36,000,000
Loss contingency accrual to be paid in third quarter		36,000,000
Litigation settlement expense	$72,000,000

Related_Party_Transactions_Det

Related Party Transactions (Details) (Servicing Agreement, Commonwealth Bank of Australia, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
	aircraft
Related party transactions
Fees under the Servicing Agreement in connection with acquisition of aircraft and management of current lease	$0.10
Number of aircraft leases to be managed by the entity	12
Class A Common Stock | Minimum
Related party transactions
Beneficial ownership interest owned (as a percent)	5.00%

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	6-May-15
Subsequent Events
Quarterly cash dividends on common stock	$0.04
Subsequent Events | Dividend Declared
Subsequent Events
Quarterly cash dividends on common stock		$0.04