Malaysia Airlines gets the first of 25 new Boeing 737- MAX 8 jets from Air Lease Corp

Global leasing giant Air Lease Corporation has confirmed the first of 25 new Boeing 737- MAX 8 aircraft has been delivered to Malaysia Airlines Berhad from ALC’s order book with Boeing. Featuring CFM LEAP 1B-27 engines, this new Boeing aircraft is the first 737- MAX 8 addition to Malaysia Airlines’ fleet.

“We are thrilled to announce ALC’s first of 25 new Boeing 737- MAX 8 aircraft delivered to Malaysia Airlines,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “Our significant deal for 25 new Boeing 737- MAX 8 aircraft with MAB is a milestone transaction that demonstrates ALC’s commitment to the national carrier’s long-term fleet modernization and sustainability program. We are honoured to be the first to introduce the 737-8 to the airline.”

This Boeing 737 aircraft joins six Airbus A350-900 aircraft currently on long-term lease to the airline from ALC.

Air Lease Corporation confirms the delivery of a new Airbus A321 aircraft to LATAM Airlines

Today Air Lease Corporation confirmed one new Airbus A321-200neo aircraft has been delivered to LATAM Airlines. This A321-200neo aircraft is the first of eight new Airbus A321s confirmed to deliver to the South American carrier from ALC’s order book with Airbus. Two A321-200neos are scheduled to deliver to the airline from ALC in 2023 and 2024, followed by five A321 XLRs starting in 2025 through 2026.

“ALC is pleased to announce our first A321-200neo delivery to LATAM Airlines today,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “With this new A321-200neo aircraft, LATAM adds to the airline’s fleet modernization program by obtaining the most advanced technology aircraft to optimize and grow the carrier’s expanding international route network.”

LATAM Airlines is a leading airline in Latin America, the group has a presence in five domestic markets in the region - Brazil, Chile, Colombia, Ecuador and Peru. In addition, it also flies international services within Latin America and to Europe, Oceania, the United States and the Caribbean. 

The group has a fleet of Boeing 767, 777, 787, Airbus A321, A320, A320neo and A319 aircraft. LATAM Cargo Chile, LATAM Cargo Colombia and LATAM Cargo Brazil are the LATAM group's cargo subsidiaries, having a combined fleet of 18 freighter aircraft, which will gradually increase to a total of 19 cargo aircraft by 2024. 

Air Lease Corporation has agreed lease deal for 18 new Boeing 737- MAX 8 jets to EGYPTAIR

Air Lease Corporation announced long-term lease contracts for 18 new Boeing 737- MAX 8 aircraft with EGYPTAIR. These new Boeing aircraft are confirmed to be delivered to the airline beginning in 2025 through 2026 from ALC’s order book with Boeing. This is the first deal between ALC and the Egyptian flag carrier and the first 737- MAX 8 addition to the EGYPTAIR fleet.

“We are pleased to announce this deal for 18 new Boeing 737- MAX 8 aircraft with ALC’s new customer, EGYPTAIR, and be the first to lease the 737- MAX 8 to the airline,” said Steven F. Udvar-Hazy, Executive Chairman of Air Lease Corporation. “As a leading carrier in North Africa, EGYPTAIR will continue to excel in the market with these 18 new generation Boeing 737-MAX 8 aircraft that will replace EGYPTAIR’s aging narrowbody fleet with the most advanced, fuel-efficient Boeing aircraft and will significantly enhance the airline’s fleet operations and competitiveness.”

“Our team is honoured to conclude this important transaction with EGYPTAIR and support the airline with their single-aisle fleet development. We thank our friends at EGYPTAIR for choosing to partner with ALC on this major investment to modernize and grow the carrier's narrowbody fleet and look forward to a successful longstanding relationship between ALC and EGYPTAIR,” added Afeef Louis, Assistant Vice President of Air Lease Corporation

“This major deal with ALC for 18 new Boeing 737-8 aircraft demonstrates EGYPTAIR’s commitment to fleet modernization, environment sustainability and future growth plans. The 737-8 will greatly benefit EGYPTAIR’s operating efficiency and our passenger experience far into the future,” said Yehia Zakaria, Chairman and CEO of EGYPTAIR HOLDING. “We are thrilled to partner with a pioneering lessor such as Air Lease Corporation on this strategic initiative to support EGYPTAIR’s fleet renewal and growth plans.”

Air Lease Corporation leases an Airbus A330-200 jet to HiSky

Aircraft leasing giant,  Air Lease Corporation has confirmed the long-term lease of one Airbus A330-200 aircraft to HiSky.  ALC is scheduled to deliver the plane to the European carrier in 2023, and this A330-200 aircraft joins one A319-100, four A320-200s and two A321-200neo LR aircraft currently on lease to HiSky from ALC.

"We are pleased to continue our support of HiSky Europe with the lease of this first widebody aircraft to the airline,” said David Beker, Senior Vice President, Marketing and Head of Aircraft Sales & Trading at Air Lease Corporation. “After two and a half years of steady and successful growth with their all-ALC narrowbody fleet, HiSky came to us ready to launch widebody operations and ALC is delighted to provide high-quality aircraft that will enable the carrier to realize their commercial objectives."

"Over the past two years, we've experienced consistent growth that has brought us to this pivotal moment—the moment when we are prepared to acquire our first widebody aircraft. We've now become the fourth-largest air carrier at Romania's primary airport and the largest operator of Airbus aircraft registered in Romania. Our partnership with ALC has undeniably proven to be a successful one. The aircraft they have provided us have been instrumental in helping HiSky achieve record-breaking passenger levels during this summer season. Having accomplished all the goals we set for ourselves over the years, we're profoundly grateful for the trust and support of our partners as we embark on this exciting new venture,” said Iulian Scorpan, CEO of HiSky.

The wide-body, Airbus A330-200 has a flight range of over 13,400 km, will be the first of its type registered in Romania. HiSky thus becomes the only Romanian airline operating regular long courier flights, after more than 20 years. Through this strategic acquisition, the company enters the select gallery of top operators, which carry out direct flights from any point in Europe to the American continent as well as to distant destinations in Asia, such as China or Thailand. The announcement of the company's capabilities expansion with a wide-body aircraft comes just six months after another first was brought by HiSky to the Romanian market, the introduction of two, brand new, A321 neo aircraft into operation. The first HiSky flight with the Airbus A330 will be operated by the end of 2023.

The addition of an aircraft with a flight autonomy exceeding 14 hours to HiSky's fleet will eliminate the need for stopovers at major European airports on flights departing from Romania to distant destinations, thus providing more flexibility and freedom in travel options.

HiSky is recruiting pilots and flight attendants

HiSky, one of the main airline operators on the Romanian market, announces the launch of an extensive recruitment process for flight crew. The airline is opening several positions for pilots and flight attendants, who will join the company's team, in the operational base in Bucharest. As part of the campaign, this month, HiSky representatives will organize events in several cities of the country. Thus, applicants will be able to attend interviews in Bucharest, Cluj-Napoca, Timișoara, Oradea, Baia Mare and Iași.

The element of novelty that this recruitment campaign brings is represented by the level of experience requested. Thus, in addition to the experienced certified pilots, which the company is looking for, HiSky maintains its promise to invest in the professional training and training of novice pilots. Aviation school graduates without a significant number of flight hours, with or without a type rating, are expected to apply for a position that will provide them with the training they need in order to advance their career.

"We are a young company, and from the beginning we wanted to do more than just occupy a place in the market. We want bring our own contribution, and in terms of the job market in this very specialized field, we have chosen to give a chance to talented and passionate pilots, but who are still at the beginning of this road. It is an investment we are willing to make, to be part of the solution. One of the reasons why there is such a shortage of staff is precisely this, very few airlines allocate the necessary resources to train staff. There are hundreds of young people who, with great financial sacrifices, obtain their pilot's license only to later not find a job. We have already been applying this strategy with great success for several years. Most of the best co-pilots we have today, came to us with very few hours of experience, but with a lot of talent and the desire to build. We are already recognized in the market as having some of the best pilots and the fact that they were trained by us makes us even more proud. The main criterion for a pilot to join our team is professionalism, so I hope to meet professionals at any career level at the interviews," said Iulian Scorpan, CEO of HiSky.

The investment in staff training is assumed by the company for flight attendants also. Thus, anyone who wants to start a career in the field is invited to the interview, even if they haven’t held such positions before or have not attended training courses. After completing the recruitment process, the company will provide the selected candidates, free of charge, with all the necessary training and instruction courses, which will be carried out in an accredited European aviation school.

The first step for those looking to become a HiSky pilot or flight attendant is to submit a CV to crewapplication@hisky.aero. Selected candidates will be contacted by company representatives to schedule an interview.

Air Lease Corporation Announces Second Quarter 2023 Results

Air Lease Corporation announces financial results for the three and six months ended June 30, 2023.

“Our second quarter results benefited from new aircraft deliveries exceeding our expectations, coupled with gains from higher volumes of aircraft sales. Lease rates continue to strengthen and demand for both aircraft leasing and sales remain robust, which we see continuing for the foreseeable future,” said John L. Plueger, Chief Executive Officer and President, and Steven F. Udvar-Házy, Executive Chairman of the Board.

Second Quarter 2023 Results

The following table summarizes our operating results for the three and six months ended June 30, 2023 and 2022 (in millions, except per share amounts and percentages.

Air Lease Corporation issues update for the second quarter of 2023

Air Lease Corporation announced an update on aircraft investments, sales activities, and financing occurring in the second quarter of 2023.

As of June 30, 2023, ALC’s fleet was comprised of 448 owned aircraft and 80 managed aircraft, with 359 new aircraft on order from Boeing and Airbus set to deliver through 2029.

Aircraft Investments

Delivered 19 new aircraft from ALC’s order book including three Airbus A220-300s, two Airbus A320neos, seven Airbus A321neos, two Airbus A330-900neos, one Airbus A350-900, one Airbus A350-1000, two Boeing 737-9s, and one Boeing 787-9.

Aircraft investments in the quarter totalled approximately $1.5 billion.

Sales

Sold eight aircraft to third-party buyers.

Aircraft sales for the quarter totalled approximately $600 million.

Financing

Entered into approximately $900 million of financing transactions during the quarter.

Air Lease Corporation is a leading global aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions.

Aviation Capital Group acquires portfolio of Airbus A320neo aircraft from funds managed by Air Lease Corporation

Aviation Capital Group has confirmed the acquisition of a portfolio of Airbus A320neo aircraft from funds managed by Air Lease Corporation. The portfolio comprises five aircraft, each of which is on lease to Spirit Airlines. The acquisition of these aircraft, which are powered by the ultra-efficient Pratt & Whitney GTF engines, complements ACG’s deliveries to Spirit Airlines from ACG’s order book with Airbus.

“We are pleased to announce this sale to ACG of five Airbus A320neo aircraft owned by funds that are exclusively managed by ALC,” said David Beker, Senior Vice President, Marketing and Head of Aircraft Sales & Trading of Air Lease Corporation. “We appreciate the close collaboration with the ACG team who worked effectively and efficiently to complete this transaction which was important to our investors.”

Rob Downes, SVP and Head of Aircraft Trading at ACG, commented, “We are delighted to close our first transaction with the ALC team, and equally delighted to further expand our strong relationship with a key customer in Spirit Airlines.”

Air Lease Corporation orders two 787 Dreamliners jets

Air Lease Corporation, one of the global aircraft leasing giants has purchased two 787 Dreamliners from U.S.planemaker Boeing.  ALC has been a long-standing 787 customer, placing its first purchase for the 787-9 in 2010. Its aeroplane portfolio currently includes the 787-9 and 787-10.

Since revenue service began in 2011, the 787 family has launched nearly 360 new nonstop routes around the world, more than 10 times as many new routes as other jets in the same category. The 787-9 can fly 296 passengers up to 7,565 nautical miles (14,010 km) in a typical two-class configuration.

"ALC is a key strategic leasing partner to Boeing, and we are delighted that it continues to see the value proposition of the 787 family for its customers," said Stan Deal, president and CEO of Boeing Commercial Airplanes. "With its unparalleled fuel efficiency, the 787 Dreamliner family is playing a major role in pioneering new routes in the long-haul travel market while reducing fuel use and emissions, allowing airlines to meet their sustainability objectives."

Using 25% less fuel and creating 25% fewer emissions than the aeroplanes they replace, the 787 family has avoided more than 125 billion pounds of carbon emissions since entering service.

The 787 family is selling at the highest rate in its history, receiving more than 250 orders and commitments in the past six months.

Cyprus Airways, the national airline of Cyprus to lease two new Airbus A220 jets

Air Lease Corporation announced long-term lease placements for two new Airbus A220-300 aircraft with Cyprus Airways, the national airline of Cyprus. Both new A220 aircraft are confirmed to deliver to the airline this month from ALC’s order book with Airbus.

“ALC is pleased to announce this transaction for two Airbus A220 aircraft with our new customer, Cyprus Airways,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “As the first to introduce the A220 to the airline and the country of Cyprus, ALC looks forward to working with the Cyprus Airways team to develop and grow the flag carrier’s fleet with the most technologically advanced, fuel-efficient new aircraft.”

“We are thrilled to work with the ALC team on the first implementation of the A220 in the Cyprus Airways fleet,” said Paul Sies, Chief Executive Officer of Cyprus Airways. “Seen as a game changer in the industry, the A220 will provide a new experience to our guests and marks our commitment towards sustainability. The A220 offers the newest technology on the market and gives great savings in fuel burn and direct operating cost. We look forward to a long and mutual beneficial relationship with ALC and hope to work with them on the further development of our fleet plan in the years to come.”

Air Lease Corporation agrees on lease deal with Cyprus Airways for two new Airbus A220 aircraft

Air Lease Corporation announced long-term lease placements for two new Airbus A220-300 aircraft with Cyprus Airways, the national airline of Cyprus. Both new A220 aircraft are confirmed to deliver to the airline this month from ALC’s order book with Airbus.

“ALC is pleased to announce this transaction for two Airbus A220 aircraft with our new customer, Cyprus Airways,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “As the first to introduce the A220 to the airline and the country of Cyprus, ALC looks forward to working with the Cyprus Airways team to develop and grow the flag carrier’s fleet with the most technologically advanced, fuel-efficient new aircraft.”

“We are thrilled to work with the ALC team on the first implementation of the A220 in the Cyprus Airways fleet,” said Paul Sies, Chief Executive Officer of Cyprus Airways. “Seen as a game changer in the industry, the A220 will provide a new experience to our guests and marks our commitment towards sustainability. The A220 offers the newest technology on the market and gives great savings in fuel burn and direct operating cost. We look forward to a long and mutual beneficial relationship with ALC and hope to work with them on the further development of our fleet plan in the years to come.”

Bulgaria Air gets its first Airbus A220 jet

Bulgaria Air has taken delivery of its first super-efficient Airbus A220 aircraft which is on a long-term lease basis from Air Lease Corporation.

The A220 will be flying on both regional and international routes across Europe for the flag carrier of Bulgaria and in total, Bulgaria Air will lease a total of five A220-300s and two A220-100 - all of which are from ALC.

The A220 is the latest-generation aircraft type from Airbus to join Bulgaria Air’s fleet. The airline already operates seven A320 aircraft demonstrating the fleet complementarity between the A220 and the A320 Family. With a range of up to 3,450 nm (6,390 km), the A220 provides airlines such as Bulgaria Air with increased operational flexibility.

Bulgaria Air’s first A220 configuration will comprise a total of 143 seats in dual-class, including eight Business class seats. The A220 is the only aircraft purpose-built for the 100-150 seat market and brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation engines. The aircraft offers unbeatable comfort in a small single-aisle with the widest windows, largest seats and overhead stowage, as well as the widest and quietest cabin in its category.

as it delivers up to 25% lower fuel burn and CO2 emissions per seat compared to previous generation aircraft, and 50% lower NOx emissions than industry standards. In addition, the aircraft noise footprint is reduced by 50% compared to previous-generation aircraft.

As of the end of May 2023, Airbus has received close to 800 orders from 30 customers for the A220, of which 265 have been delivered. The A220 is already in successful service with 16 airlines worldwide. To date, more than 90 million passengers have enjoyed the A220. The fleet is currently flying on over 1,100 routes and over 375 destinations worldwide.

The Bulgarian airline has also just recently launched a summer route from Sofia to the city of Heraklion on the island of Crete.  

The capital city of the island of Crete, Heraklion is known for its crystal clear beaches, rich and mystical history, impressive nature and delicious cuisine. The passengers of Bulgaria Air will be able to get acquainted with the magical island atmosphere, try the exclusive Greek specialities, as well as enjoy the traditional Cretan hospitality.

With the launch of seasonal flights to Heraklion, the national carrier provides its passengers with many entertainment options and diverse tourist routes for unforgettable journeys.

Air Lease Corporation Extends $7.2 Billion Senior Unsecured Revolving Credit Facility

Air Lease Corporation amended and extended its senior unsecured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent whereby the company extended the final maturity date of the facility from May 5, 2026 to May 5, 2027 and amended the total revolving commitments to approximately $7.2 billion across 49 financial institutions as of May 5, 2023.  The senior unsecured revolving credit facility accrues interest at adjusted term SOFR plus a margin of 1.05% per year with a 0.20% facility fee, each subject to adjustments based on the company’s credit ratings.  

“We are pleased to announce the extension of our senior unsecured revolving credit facility by one year to 2027, and we’d like to thank our bank partners for their continued support” said Gregory B. Willis, Executive Vice President and Chief Financial Officer of Air Lease Corporation.  “The ongoing success of this facility reflects ALC’s strong investment grade credit metrics and platform, and it remains a key component of our cost-efficient funding strategy.”

Air Lease Corporation is a leading global aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. 

Air Lease Corporation latest results.

Air Lease Corporation has announced an update on aircraft investments, sales, and significant financing activities occurring in the first quarter of 2023.

As of March 31, 2023, ALC’s fleet was comprised of 437 owned aircraft and 86 managed aircraft, with 376 new aircraft on order from Boeing and Airbus set to deliver through 2029.  

Aircraft Investments

Delivered 22 new aircraft from ALC’s order book including six Airbus A321neos, two Airbus A330-900neos, one Airbus A350-900, five Boeing 737-8s, and eight Boeing 737-9s.

Aircraft investments in the quarter totalled approximately $1.4 billion.

Sales

Sold two aircraft to third-party buyers.

Financing

Issued $700 million of 5.30% senior unsecured medium-term notes due 2028.

Completed inaugural US$600 million sukuk offering, consisting of 5.85% trust certificates due 2028.

ALC is a leading global aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. 

Air Lease Corporation Announces Fourth Quarter & Fiscal Year 2022 Results

Air Lease Corporation has released its financial results for the three months and year ended December 31, 2022.

“Aircraft demand is bolstering lease rates, accelerating our orderbook placements, and intensifying lease extension requests. Airline industry recovery with constrained balance sheets, drive for environmental sustainability, and lack of available delivery slots from the OEMs continues to favor ALC’s business model of providing new aircraft from our orderbook,” said John L. Plueger, Chief Executive Officer and President.

“High quality commercial aircraft are increasingly in limited supply given strong airline need for capacity – exacerbated by ongoing delivery delays at both Boeing and Airbus, which we do not see abating. We expect to see continued growth and strength in global air traffic and airline yields in 2023, offering a counterbalance to global macroeconomic cross-currents,” said Steven F. Udvar-Házy, Executive Chairman of the Board.

Air Lease Corporation Announces Third Quarter 2022 Results

Global passenger traffic, along with airline revenue trends and yields, remains on a solid recovery path with little sign of abatement despite global economic and geopolitical factors is how Air Lease Corporation's boss John L. Plueger opened his statement on the firm's latest results.  

“Our strong balance sheet, young fleet, and attractive order book are once again proving to be the right combination in today’s world for our airline customers. Reflecting this confidence, I am pleased to announce that our Board of Directors has authorized an increase in our quarterly common stock dividend to $0.20 per share, representing the 10th increase and 40th consecutive dividend payment since the founding of ALC,” said Steven F. Udvar-Házy, Executive Chairman of the Board.

Highlights

Took delivery of 14 aircraft from our new order pipeline, representing $843 million in aircraft investments, ending the period with over $28 billion in total assets.

As of September 30, 2022, we had 405 aircraft in our owned fleet, with a net book value of $23.9 billion, a weighted average age of 4.5 years and a weighted average lease term remaining of 7.0 years.

Placed 99% of our contracted orderbook positions on long-term leases for aircraft delivering through the end of 2023 and have placed 58% of our entire orderbook.

Ended the quarter with $30.9 billion in committed minimum future rental payments consisting of $15.1 billion in contracted minimum rental payments on the aircraft in our existing fleet and $15.8 billion in minimum future rental payments related to aircraft on order.

Increased our quarterly cash dividend by approximately 8.1%, from $0.185 per share to $0.20 per share of our outstanding Class A common stock. The next quarterly dividend of $0.20 per share will be paid on January 10, 2023 to holders of record of our common stock as of December 16, 2022.

Third Quarter 2022 Results

The following table summarizes our operating results for the three and nine months ended September 30, 2022 and 2021 (in millions, except per share amounts and percentages):

Three New Boeing 737 MAX jets for Aeroitalia

Today Air Lease Corporation confirmed it had completed a deal to lease three new Boeing 737- MAX jets to Aeroitalia.  These three new Boeing aircraft are scheduled to deliver to the Italian airline from ALC’s order book with Boeing beginning in 2023 through 2024.

“We are very pleased to announce this placement of three new Boeing 737-8 aircraft with Aeroitalia,” said Steven F. Udvar–Házy, Executive Chairman of Air Lease Corporation.  “The capabilities of the Boeing 737-8 will greatly enhance Aeroitalia’s operational efficiency and expanding fleet with the most modern, fuel-efficient aircraft.”

“With this placement, Aeroitalia’s team of seasoned airline industry veterans are prudently growing their fleet and operations to meet the needs of the airline’s steadily growing business,” said AJ Abedin, Vice President of Marketing at Air Lease Corporation.

Gaetano Intrieri, Chief Executive Officer of Aeroitalia, added: “With this lease agreement, we strengthen our business relations with ALC.  We consider this deal a very important step for Aeroitalia in its plan for sustainable green growth and to support the Italian market.  Our team is very proud of the support and trust we have received from ALC, one of the most important worldwide lessors.  Let me give a special thanks to Mr Hazy for believing in our project.”

a 10th Airbus A320-200 for Allegiant from Air Lease Corp.

Air Lease Corporation has confirmed the delivery of a tenth Airbus A320-200 aircraft to the U.S. budget carrier Allegiant this week.  The jet was formerly on lease to Alaska Airlines and is the tenth of ten used Alaska A320s the firm has delivered to Allegiant Air. 

“ALC is pleased to announce this tenth A320 delivery to Allegiant,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “These ten young A320s are providing valuable service to Allegiant’s growing fleet with advanced technology and fuel efficiency.”

To replace Alaska’s A320 fleet, ALC and Alaska signed long-term lease agreements for 14 new Boeing 737- MAX 9 aircraft of which 11 have already been delivered. The remaining aircraft are scheduled to deliver through the end of 2022 from ALC’s order book with Boeing.

Air Lease Corporation Announces Lease Placement of Five New Airbus A321-200 XLR Aircraft with LATAM Airlines

Air Lease Corporation Announces Lease Placement of 

Five New Airbus A321-200 XLR Aircraft with LATAM Airlines

Air Lease Corporation announced long-term lease placements for five new long-range Airbus A321-200 XLR aircraft with LATAM Airlines.  The aircraft are scheduled to deliver to LATAM starting in fall 2025 through 2026 from ALC’s order book with Airbus.

“We are pleased to announce this lease placement for five new long-range Airbus A321-200 XLRs with our airline customer based in Chile, LATAM Airlines, and be the first to introduce the XLR to the airline,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation.  “As the largest South American carrier, LATAM is continuing its fleet modernization program adding the most advanced technology aircraft to enhance efficiency and passenger experience. These five new ALC A321XLR jets will optimize and grow the airline’s expanding international route network.” 

LATAM is Latin America’s leading airline group, with presence in five domestic markets in South America: Brazil, Chile, Colombia, Ecuador and Peru, along with international operations within Latin America and to Europe, US and the Caribbean.  The group operates a fleet including Boeing 787, Airbus A350, A321, A320neo and A319 aircraft, the most modern models of their kind.  

Air Lease Corporation is a leading global aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. 

Air Lease Corporation Activity Update for the Third Quarter of 2022

Air Lease Corporation Activity Update for the Third Quarter of 2022

Today Air Lease Corporation announced an update on aircraft investments and sales activity occurring in the third quarter of 2022.

As of September 30, 2022, ALC’s fleet was comprised of 405 owned aircraft and 87 managed aircraft, with 412 new aircraft on order from Boeing and Airbus set to deliver through 2028.  

Aircraft Investments

Delivered 14 new aircraft from ALC’s order book including two Airbus A220-300s, three A321neos, three Airbus A330-900neos, five Boeing 737-8s, and one Boeing 737-9 

Aircraft investments in the quarter totalled approximately $840 million

Sales 

Sold one aircraft to a third-party buyer

LOT Polish Airlines signs lease deal for 6 Boeing 737 MAX 8 aircraft.

LOT to take 6 unwanted 737 MAX 8 on lease  Photo Boeing

This week the aircraft leasing giant Air Lease Corporation confirmed it had agreed on a deal to lease 6 Boeing 737 MAX 8 jets to LOT Polish Airlines. 

This deal will see all the planes delivered to LOT this month, October 2022 and will add to the five Boeing 737-8 and one Dreamliner aircraft currently on lease to the Polish airline from ALC.

“We are honoured and pleased to expand our long relationship with LOT by leasing the airline six modern 737- [MAX] 8 jet aircraft, in addition to the six aeroplanes currently on lease, doubling the size of the ALC-owned portfolio to 12 aircraft at LOT.  ALC has played an important role in the recent fleet modernization program of LOT since late 2017 and these six additional aircraft will support LOT’s network and development strategy,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.

“LOT is in the process of selecting a new fleet in the regional and narrow-body segment.  Until a supplier is selected, we are planning to source aircraft as a bridging solution - the first Embraer 175 and 190 have already joined LOT Polish Airlines' fleet and will soon be followed by the Boeing 737- [MAX] 8.  I am very pleased to see these reliable and economical aircraft completing our single-aisle fleet,” said Maciej Wilk, Chief Operating Officer of LOT Polish Airlines.

Book LOT Polish Airlines flights here.

LOT Polish Airlines was founded in 1928 and is based in Warsaw using Chopin Airport as its main hub. It also flies from Tallinn, Krakow and Budapest, and with over 90 destinations covered in mainly Europe and the Middle East it also has many long-haul flights to North America and Asia.