Showing posts with label Air Lease Corporation. Show all posts
Showing posts with label Air Lease Corporation. Show all posts

16 February, 2024

Air Lease Corporation Announces Fourth Quarter & Fiscal Year 2023 Results

Air Lease Corporation, one of the global leaders in aircraft leasing and management has just released details of its financial results for the three months and year ended December 31, 2023.

Air Lease Corporation is a leading global aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. Air Lease Corporation 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.

“Fourth quarter and full-year performance at ALC was very strong. With the exception of the benefit of tax reform in 2017, we achieved record revenues and profits for the 4th quarter, with net income increasing 56% and revenues increasing 19% over the prior year’s quarter. Similarly, for the full year 2023, we enjoyed record revenues, aircraft sales, and total assets which exceeded $30 billion for the first time. Looking forward, the commercial aircraft supply/demand backdrop remains highly favourable for our current fleet and our $22 billion forward orderbook scheduled to deliver over the next 4-5 years,” said John L. Plueger, Chief Executive Officer and President, and Steven F. Udvar-Házy, Executive Chairman of the Board.

Fourth Quarter 2023 vs. Fourth Quarter 2022


Our total revenues for the three months ended December 31, 2023 increased by 19% to $717 million as compared to the three months ended December 31, 2022. The increase in total revenues was primarily driven by the continued growth in our fleet, an increase in sales activity and higher end-of-lease revenue. During the three months ended December 31, 2023, we recognized $59 million in gains from the sale of eight aircraft. We also recognized $60 million in end-of-lease revenue related to the return of seven aircraft. During the three months ended December 31, 2022, we recorded approximately $28 million in gains from the sale of six aircraft1.

10 January, 2024

Air Lease Corporation Activity Update for the Fourth Quarter of 2023


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

As of December 31, 2023, ALC’s fleet was comprised of 463 owned aircraft and 78 managed aircraft, with 334 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 A220s, one Airbus A320neo, eight Airbus A321neos, two Airbus A330-900neos, two Boeing 737-8s, and three Boeing 737-9s.
  • Aircraft investments in the quarter totalled approximately $1.2 billion.

Sales

  • Sold seven aircraft to third-party buyers.
  • Aircraft sales proceeds for the quarter totalled approximately $440 million.

Financing

  • Issued C$500 million of 5.4% senior unsecured medium-term notes.
  • Upsized senior unsecured revolving credit facility to $7.4 billion from $7.2 billion.


21 December, 2023

Transavia Airlines gets its first Airbus A321neo

Photo  Airbus S.A.S. 2023 - Transavia Airlines first A321neo delivery​​​​​​​​​​​​​​
Dutch low-cost carrier Transavia Airlines,  part of  the Air France-KLM group, has taken delivery of its first A321neo on lease from Air Lease Corporation. The aircraft was delivered from Airbus’ Hamburg production facilities taking advantage of Airbus’ option for Sustainable Aviation Fuel (SAF) on its delivery flight to Amsterdam’s Schiphol Airport. With this new aircraft Transavia becomes a new Airbus operator of the type.

This first A321neo marks the beginning of Transavia Airlines’ transition to an all-Airbus latest-generation fleet. Due to its lower fuel consumption and emissions, the A321neo will play a key role in the airline group’s sustainable development goals.

The newly delivered A321neo for Transavia Airlines seats 232 passengers in a single class layout. The cabin features Airbus’ Airspace XL bins. The larger bins provide a 40% more stowage space than previous ones for a more relaxed boarding experience for passengers and cabin crew. In addition, USB-C ports are available for passengers at every seat, and the latest lighting system enhances the overall passenger experience.

The A321neo is the largest member of the Airbus A320neo Family, offering unmatched range and performance. Equipped with sharklets and powered by new generation CFM International LEAP-1A engines, the A321neo delivers a 50 per cent reduction in noise footprint and 20 per cent reduction in fuel burn and CO₂ emissions compared to previous generation single-aisle aircraft.

To date the A321neo has captured more than 5,600 orders received from over 100 customers across the globe.

16 December, 2023

Air Lease Corporation Announces Delivery of First of Seven New Airbus A321-200neo Aircraft to Transavia


Air Lease Corporation announced one new Airbus A321-200neo aircraft delivered to Transavia. This aircraft is the first of seven new Airbus A321s confirmed to deliver to Transavia on long-term lease from ALC’s order book with Airbus and the first A321-200neo to join the Dutch carrier’s fleet.


“ALC is pleased to announce the first of seven A321-200neo aircraft delivered today to our longtime customer, Transavia,” said Grant Levy, Executive Vice President of Air Lease Corporation. “With these new ALC A321neos, Transavia will continue to excel by offering excellent and efficient service at affordable fares to its customers. We are honoured to introduce the A321-200neo to Transavia and look forward to continuing to assist the airline with its single-aisle fleet development for years to come.”


Transavia is a low-cost airline that for the past 50 years has taken great pleasure in flying passengers to over 110 destinations in Europe and North Africa. Transavia stands for accessibility and affordability: whether you are planning a holiday or a business trip, you will always find a flight that fits your budget. Transavia operates from the Netherlands and France.

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. 





15 December, 2023

Danish carrier Sunclass Airlines gets two new Airbus aircraft on lease from ALC - one A321-200neo and one new A330-900neo


Air Lease Corporation announced this week that two new Airbus aircraft were delivered to Sunclass Airlines of Denmark, including one new A321-200neo and one new A330-900neo. Both aircraft were delivered to Sunclass Airlines this December on long-term lease from ALC’s order book with Airbus.


“We are pleased to announce the first of two A321-200neos and the first of three A330-900neos delivered to Sunclass Airlines,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “With these new ALC aircraft, Sunclass will continue to progress its fleet modernization program adding new generation widebodies and narrowbodies that offer the most advanced technology and efficiency.”

Sunclass Airlines A/S is a Danish charter airline that operates charter services from Norway, Sweden, Denmark and Finland. The company is affiliated with Ving Group, a Nordic tour operator.

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.

It is an ambitious and proud CEO, Valdemar Warburg, who a few weeks before his one-year anniversary in Sunclass Airlines, receives the second large Airbus neo aircraft says:  "Specifically, we in the Group have a goal of reducing the carbon footprint of our travels by 25 percent by 2030 and to reach zero emissions by 2050. And in this plan, fleet replacement is very central, which is why it is also very pleasing that we can now fly out of 2023 with as many as three neo-aircraft in the fleet – and that the entire replacement actually seems to be going faster than expected."

21 November, 2023

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. 

14 November, 2023

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.”

ITA Airways takes delivery of its first Airbus A321neo

ITA Airways has taken delivery of its first A321neo on lease from Air Lease Corporation from Airbus’ Hamburg production facilities.  This latest addition further consolidates ITA Airways' all-Airbus fleet strategy, which currently stands at 81 aircraft, and includes the latest generation A220, A320neo, A330neo and A350 aircraft.

ITA Airways’ A321neo,  which will serve the airline’s medium-haul routes, is fitted with a three-class configuration including 12 Business Class full flat beds with direct aisle access, 12 Premium Economy seats in 4-abreast, and 141 Economy seats of which 12 are dedicated to Comfort Economy.

ITA Airways' A321neo aircraft features Airbus' Airspace cabin design, which includes new XL overhead bins and customised interior lighting based on the latest full-LED technologies to help reduce jet lag. In addition, to enhance the passenger experience, each seat is equipped with the latest generation in-flight entertainment system with individual screens and on-demand content.

The A321neo is the largest aircraft in Airbus’ A320neo Family, offering unparalleled range and performance. By incorporating new generation engines and Sharklets, the A321neo brings a 50% noise reduction and more than 20% fuel savings and CO₂ reduction compared to previous generation single-aisle aircraft. Having the widest single-aisle cabin in the sky, the aircraft is the perfect contender for maximising comfort.

To date, more than 5,500 A321neos have been ordered by customers across the globe.

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ITA Airways has taken delivery of its first A321neo on lease from Air Lease Corporation


21 September, 2023

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.


04 August, 2023

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.

12 July, 2023

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.

26 June, 2023

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.”

23 June, 2023

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.

22 June, 2023

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.”

21 June, 2023

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.”

19 June, 2023

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.



26 April, 2023

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. 

08 April, 2023

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. 


17 February, 2023

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.

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