Douglas Elliman terminates aircraft leases with Vector Group, cutting ~$2M annual cost

Douglas Elliman Inc.

Terminated Aircraft Lease Agreements with VT Equipment Leasing and VT Aviation Leasing (Vector Group affiliates) effective Nov 16, 2024.
Paid approx $1.83M in first nine months of 2024, $2.12M in 2023, $2.42M in 2022 under the flight-by-flight leases.
Termination allowed without cause on 30 days' notice; company identified as cost reduction measure.
Company does not require the aircraft and expects no material adverse effect on financial condition or operations.

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