Air Lease Corporation has leased three new Airbus A321neo aircraft with LATAM Airlines

Today Air Lease Corporation announced long-term lease placements for three new Airbus A321neo aircraft with LATAM Airlines.  The aircraft are scheduled to deliver to LATAM in the summer and fall of 2023 from ALC’s order book with Airbus. 

“We are pleased to announce the long-term leases of three new Airbus A321neo aircraft to the largest airline in South America: LATAM Airlines,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation.  “This is another important step in LATAM’s fleet modernization and network strategy optimization.”

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.  LATAM is the only airline group of the Americas and one three in the world to join the Dow Jones Sustainability Index World, where it’s recognized for its sustainable practices, based on three criteria: economics, social and environmental. 

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Air Lease Corporation Announces First Quarter 2022 Results

Air Lease Corporation Announces First Quarter 2022 Results

Air Lease Corporation has just announced its financial results for the three months ended March 31, 2022.

John L. Plueger, Chief Executive Officer and President said: “Industry fundamentals continue to strengthen globally – demand is expanding both for new and young used aircraft, supporting continued 

firming of lease rates and bolstering the value of the existing aircraft in our fleet. We benefited from this improving backdrop during the first quarter. While we wrote-off our Russia exposure, we are vigorously pursuing our insurance coverage and believe we have strong and valid claims,” 

Steven F. Udvar-Házy, Executive Chairman of the Board said:  “With the strengthening market, we are monitoring continued delivery delays from Boeing and Airbus very closely, and will adjust accordingly to take advantage of market opportunities – fostering fleet growth in 2022 and beyond. ALC is well-poised to execute successfully on our strategy as the recovery continues. We are also pleased to report that we have fully completed our $150 million common stock repurchase program,” 

Flight Equipment Portfolio

As of March 31, 2022, the net book value of our fleet decreased to $22.3 billion, compared to $22.9 billion as of December 31, 2021. The decrease is due to the write-off of the net book value of our 21 aircraft that remain in Russia, totalling approximately $791.0 million, partially offset by the delivery of eight new aircraft from our new order pipeline and one aircraft from the secondary market. As of March 31, 2022, we owned 370 aircraft in our aircraft portfolio, comprised of 268 narrowbody aircraft and 102 widebody aircraft, and we managed 87 aircraft. 

The 21 aircraft that remain in Russia have been removed from our owned fleet count. The weighted average fleet age and weighted average remaining lease term of our fleet as of March 31, 2022, was 4.5 years and 7.0 years, respectively. We have a globally diversified customer base of 114 airlines in 60 countries. 

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Air Lease Corporation Increases Senior Unsecured Revolving Credit Facility to $7.0 Billion

Air Lease Corporation Increases Senior Unsecured Revolving Credit Facility to $7.0 Billion

Global leasing giant Air Lease Corporation has 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, 2025, to May 5, 2026, and increased the total revolving commitments to approximately $7.0 billion from $6.8 billion, across 52 financial institutions as of May 5, 2022.  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 2026 and upsize of the facility to $7.0 billion,” said Gregory B. Willis, Executive Vice President and Chief Financial Officer of Air Lease Corporation.  “The success of this facility is reflective of ALC’s investment-grade credit metrics and the strength of our platform, and we appreciate the continued support of our lender group.  This credit facility remains a foundational component of ALC’s funding strategy, providing us with a highly cost-efficient and flexible financing tool to support the continued expansion of our fleet.

Air Lease Corp releases its latest results.....

Today Air Lease Corporation announced an update on aircraft investments, sales, new significant financing, and other activity occurring in the first quarter of 2022.

As of March 31, 2022, ALC’s fleet was comprised of 391 owned aircraft and 93 managed aircraft, with 451 new aircraft on order from Boeing and Airbus set to deliver through 2028.  

Aircraft Investments

• Delivered eight new aircraft from ALC’s order book including one Airbus A320neo, two Airbus A321neos, one Airbus A330-900neo, three Boeing 737-8s, and one Boeing 737-9
• Purchased one incremental Boeing 737-800, which was concurrently leased to an ALC customer
• Aircraft investments in the quarter totalled approximately $490 million

Sales

• No aircraft sales occurred during the quarter

Financing

• Issued $1.5 billion of senior unsecured medium-term notes comprised of $750 million of 2.20% senior unsecured medium-term notes due 2027, and $750 million of 2.875% senior unsecured medium-term notes due 2032

 Russia Exposure

• In March of 2022, we terminated leases for all ALC aircraft on lease to Russian airline customers.  We currently have 21 owned aircraft remaining in Russia, representing approximately 3.4% of our fleet by net book value as of March 31, 2022.

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



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Airbus A330-200 for new UK Sentra Airlines

This week Air Lease Corporation confirmed it will lease a used Airbus A330-200 aircraft to the new UK based start-up airline, focused on niche point-to-point scheduled destinations, Sentra Airways.

This used plane will be the first for the new airline and is scheduled to delivered this summer to the Bradford based airline. The first destination for Sentra is scheduled to be Accra, Ghana, from Manchester, which it hopes to start before the end of the year. More routes will then follow including further African destinations and the USA. The startup is trying to position itself as an "Airline of Choice" for the operational routes served, future alliances,  “Sentra Airways, Your Best Value Airline.”        

    

“Sentra Airways is delighted to have finally reached this significant milestone,” said Ishmael Musah, Chairman and Accountable Manager of Sentra Airways. Bruce Fenton, Executive Director of Sentra Airways also commented: “We would like to express our thanks to ALC for being our lease partner for the first Sentra Airways A330-200. We look forward to further collaborations with ALC and completing the regulatory approvals to gain our UK AOC certification later this year.” 

    

“ALC is pleased to announce this lease placement for one A330-200 with Sentra Airways,” said Lauren Kervick, Assistant Vice President of Marketing of Air Lease Corporation.  “Sentra has an exciting growth and business plan operating from the UK to West Africa, and we look forward to growing our relationship over the coming years.”

          

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Air Lease to add 35 Boeing 737 MAX jets to its orderbook

Half price Boeings for leasing giant.

This week U.S. planemaker Boeing and aircraft leasing giant Air Lease Corp have announced another order for the 737 MAX family of jets to be added to the lessor's order book. 

ALC is adding 32 additional 737 MAX 8s and 737 MAX 9s planes to its total order as travel demand continues to improve. "Following our memorandum of understanding with Boeing in February for these 32 737 MAX aircraft, we are pleased to announce the signing of this definitive purchase agreement. We believe that the economic and operating advantages of the 737 MAX will serve our airline customers well as they favour modern, fuel-efficient aircraft," said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation.

ALC currently has an order backlog of 130 Boeing 737 MAX family of jets,  "The 737 MAX family has already proved its value within ALC's narrowbody portfolio, providing operators with excellent fuel efficiency and flexibility across different networks," said Ihssane Mounir, Boeing senior vice president of Commercial Sales & Marketing. "The addition of more 737 MAXs, including 737-8s and 737-9s, will enable ALC to respond to accelerating market demand as air travel continues to recover."

Both Air Lease Corp and Boeing have not revealed the cost of each aircraft publicly, however, when all discounts and concessions are applied, the price of jets is just a few thousand high than half the manufacturer's list price. 

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Corendon Airlines Group to get Boeing 737 MAX jets from Air Lease Corporation

Aircraft leasing giants Air Lease Corporation has confirmed the placement of nine new Boeing 737 Aircraft with the Corendon Airlines Group.

The deal includes five new 737-MAX 8 aircraft to be delivered this year to Corendon Airlines (Turkey) and one new 737 MAX 8 delivered next year.  Corendon Airlines Group will lease three new 737MAX 9 aircraft that are scheduled to deliver to the airline starting in the first half of 2023.  

“ALC is a major lessor to the Corendon Airlines Group with three operating airlines in the Netherlands, Malta and Turkey, and we are pleased to announce these lease placements today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “These nine new Boeing 737 aircraft offer the most modern, fuel-efficient new technology that will greatly enhance Corendon’s overall fleet operations and passenger experience.”

“We appreciate and thank ALC for the long-time cooperation and fleet support,” said Yildiray Karaer, Chairman of the Corendon Group.

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Air Lease Corporation Announces Fourth Quarter & Fiscal Year 2021 Results

John L. Plueger, Chief Executive Officer and President of leasing giant Air Lease Corporation: “We had a strong fourth quarter and second half of 2021 that benefited from continuing airline industry recovery, as seen in our cash collections, operating metrics, fleet expansion, and record lease placements. We resumed our aircraft sales program and concluded the largest aircraft order in ALC’s history to support the growing demand we are seeing in the marketplace,” 

Air Lease Corporation announces financial results for the three months and year ended December 31, 2021.

“We are witnessing strengthening lease rates overall across the spectrum of new and used aircraft, including improvement in widebody lease rates being positively influenced by the exceptional strength in the freight market. Reflecting continued confidence in our future and profitability, our Board of Directors has approved a $150 million common share repurchase authorization, in addition to our 37th consecutive quarterly dividend,” said Steven F. Udvar-Házy, Executive Chairman of the Board.

Highlights

Finalized agreements with Airbus to purchase a total of 116 aircraft, including 59 A321neos, 25 A220-300s, 20 A321XLRs, seven A350Fs and five A330-900s. This represented the largest individual order for new aircraft in our Company's history.

In February 2022, we agreed to purchase from Boeing 50 737 MAX aircraft, consisting of 32 incremental 737 MAX aircraft and 18 737 MAX aircraft resulting from the conversion of three 787 aircraft. Deliveries of the aircraft are scheduled to commence in 2024 and continue through 2026.

Issued $3.7 billion of senior unsecured medium-term notes in 2021 with a weighted average interest rate of 1.27% and ended the year with total liquidity(1) of $7.9 billion.

Took delivery of 15 aircraft from our order book during the fourth quarter, representing $1.2 billion in aircraft investments. As of December 31, 2021, we had 382 aircraft in our owned fleet, with a net book value of $22.9 billion, a weighted average age of 4.4 years and a weighted average lease term remaining of 7.2 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 year with $30.9 billion in committed minimum future rental payments consisting of $14.8 billion in contracted minimum rental payments on the aircraft in our existing fleet and $16.1 billion in minimum future rental payments related to aircraft on order.

Collection rate(2) for the three and twelve months ended December 31, 2021 was 99.3% and 91.4%, respectively. This contributed to the 26.3% increase in our operating cash flow for the year ended December 31, 2021.

Lease utilization rate(3) for the three and twelve months ended December 31, 2021 was 99.8%.

On February 15, 2022, our board of directors authorized a share repurchase program of up to $150.0 million of our Class A common stock. The program expires on September 30, 2022.

On February 15, 2022, our board of directors declared a quarterly cash dividend of $0.185 per share on our outstanding common stock. The dividend will be paid on April 7, 2022 to holders of record of our common stock as of March 18, 2022.

Air Lease Corporation Announces leases 25 Boeing MAX jets to Malaysia Aviation Group

Air Lease Corporation has announced the long-term lease placements for 25 new Boeing 737 MAX 8 aircraft with Malaysia Aviation Group (MAG), parent company of Malaysia Airlines Berhad (MAB). The aircraft are scheduled to deliver to the airline starting in early 2023 through the beginning of 2026 from ALC’s orderbook with Boeing.

“ALC is pleased to announce this significant deal for 25 new 737-8 aircraft with MAG,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “These 25 new Boeing aircraft will help grow Malaysia Airlines’ expanding route network and improve operations and the efficiency of the airline’s fleet.”

Izham Ismail, Group Chief Executive Officer of MAG said: “After a detailed tender process in the last quarter, we are pleased to appoint ALC as the aircraft lessor for our Boeing 737-8 fleet. This exercise is tied to the restructured terms of our existing orderbook with Boeing. We are happy to have in ALC, a partner who is committed to be part of our future endeavors as outlined in our Long-Term Business Plan 2.0 ('LTBP2.0'). The 737-8 is key to LTBP2.0 with its superior product offerings and better fleet performance which includes amongst others, improved fuel efficiencies of up to 15%. This aligns well with our sustainability journey, whilst also enabling MAB with greater flexibility and agility to implement our future network strategies.”

In addition to these 25 Boeing aircraft, Malaysia Airlines currently has six Airbus A350-900 aircraft on long-term lease from ALC.

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Air Lease Corporation confirms delivery of a new Airbus A350-1000 to Air Caraibes Atlantique and first new Airbus A350-1000 to FrenchBee

One of the aircraft leasing giants, Air Lease Corporation has announced the delivery of one new Airbus A350-1000 aircraft on long-term lease to Air Caraibes Atlantique and one new Airbus A350-1000 to FrenchBee, both part of Groupe Dubreuil Aéro, from ALC’s orderbook with Airbus.  The aircraft delivered to FrenchBee is the first A350-1000 to operate in the airline’s all-A350 fleet. 

“ALC is pleased to announce these two new A350-1000 deliveries to Groupe Dubreuil Aéro and be the first to introduce the aircraft type to FrenchBee,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “Air Caraibes Atlantique and FrenchBee are excellent partners that continue to serve France, the French Caribbean, South Indian Ocean and Pacific markets with the most technologically advanced, fuel-efficient aircraft.”

In addition to these two new A350-1000s, Groupe Dubreuil Aéro currently has three A350-900s on lease from ALC.   

Meanwhile,   to aid the struggling Vietnam Airlines, ALC has agreed on a special restructuring of lease arrangements for 18 aircraft, including 12 Airbus A321neo and six Boeing 787-10 aircraft. These agreements extend terms and revise lease economics closely tailored to the recovering economies and air travel in Vietnam and Southeast Asia.  

How many other airlines are now going to wish they advise ALC they were going to cancel all leases unless new terms could be arranged?

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Air Lease Corporation Announces Delivery of First of Six New Airbus A321-200neo Aircraft to China Airlines

Air Lease Corporation Announces Delivery of First of Six New Airbus A321-200neo Aircraft to China Airlines

Air Lease Corporation announced the delivery of one new Airbus A321-200neo aircraft on long-term lease to China Airlines.  Featuring Pratt & Whitney PW1133G-JM engines, this is the first of six new A321-200neos confirmed to deliver to the airline from ALC’s order book with Airbus.  This aircraft is the first A321neo to deliver to China Airlines.

“ALC is honoured to be the first to introduce the A321neo to our long-time customer China Airlines.  The A321neo will become the backbone of China Airlines’ single-aisle fleet, providing fleet expansion and modernization, and elevation of their passenger experience to new levels.  The greater fuel efficiency and operating flexibility of the A321neo will also maximize profitability and further China Airlines environmental sustainability goals,” said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation.  

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ALC orders 111 Airbus aircraft - 25 A220-300s, 55 A321neos, 20 A321XLRs, 4 A330neos and 7 A350Fs

Air Lease Corporation has signed a Letter of Intent covering all Airbus Families, highlighting the power of the company’s full product range. The agreement is for 25 A220-300s, 55 A321neos, 20 A321XLRs, four A330neos and includes seven A350Fs. The order which will be finalised in the coming months, makes the Los Angeles based ALC one of Airbus’ largest customers and lessor with the biggest A220 order book. Founded in 2010, ALC has ordered a total of 496 Airbus aircraft to date.

With this order, ALC and Airbus are launching a multi-million dollar ESG fund initiative that will contribute towards investment into sustainable aviation development projects that will in the future be opened to multiple stakeholders from the aircraft leasing and financing community and beyond.

Joint creation of a sustainability fund to foster industry decarbonisation solutions

“This new order announcement is the culmination of many months of hard work and dedication by both organizations to optimize and fine-tune the size and scope of this large aircraft transaction in view of the rapidly growing global airline demand to modernize their jet fleets through the ALC leasing medium,” said Steven F Udvar-Hazy, Executive Chairman of Air Lease Corporation. “After lengthy and detailed consultations with several dozen of our strategic airline customers around the world, we are focusing this comprehensive order on the most desirable and in-demand aircraft types, covering the A220, A321neo, A330neo and A350 families. ALC is an international Market Leader in each of these categories of the most modern Airbus product lineup. These multi-year additions of new technology aircraft assets to ALC’s expanding portfolio will allow us to grow our revenues and profitability while satisfying our airline customer requirements.”

Air Lease Corporation releases its third quarter 2021 results

The global aircraft leasing firm Air Lease Corporation has released details of its latest results for the third quarter of this year. 

Key highlights included: 

Placed a record number of 64 aircraft with lessees, the highest number of aircraft placements in a quarter in ALC history. 

Recorded $520 million of rental revenue during the third quarter, the highest quarterly rental revenue since ALC’s inception.

Took delivery of 16 aircraft from our orderbook, representing $808 million in aircraft investments. 

As of September 30, 2021, ALC owned 370 aircraft in operating lease portfolio with a net book value of $22.1 billion.  

Placed 96% of its contracted orderbook positions on long-term leases for aircraft delivering through the end of 2023 and have placed 67% of entire orderbook.

Ended the quarter with $29.1 billion in committed minimum future rental payments consisting of $14.6 billion in contracted minimum 

John L. Plueger, Chief Executive Officer and President said: “Benefiting from an improving airline industry, we had a good quarter, including record-high rental revenues, total assets, and lease placements, the lowest composite funding rate in our history, and improved payments from our customers. We clearly see growing demand for new aircraft, especially for single-aisle aircraft, and we are back to 2019 levels in terms of proposals being requested by airlines. With our conservative and disciplined business model, we have now profitably placed 67% of our orderbook, despite pandemic challenges, and we remain optimistic in the future of our business and global airline travel,”

Air Lease Corp to lease 31 new Airbus aircraft to new Italian airline ITA

The global aircraft leasing giant, Air Lease Corporation confirmed on Thursday 30 September that ITA, the new national airline of Italy, has agreed to lease 31 new ALC aircraft consisting of 15 A220s, two A320neos, nine A321neos and five A330-900neos on long-term lease from ALC’s orderbook with Airbus.  The 31 aircraft will deliver to the airline progressively beginning in the second half of 2022 through early 2025. 

In addition to these 31 ALC Airbus aircraft, ITA has signed a Memorandum of Understanding with Airbus for the purchase of 28 new aircraft: 10 Airbus A330neo aircraft for long-haul flights, seven Airbus A220 family regional jets and 11 Airbus A320neo family aircraft (deliveries for the latter to start after the completion of the business plan).

Overall, ITA will lease a total of 56 new Airbus aircraft over the course of the plan (13 long-haul jets, including the ultra-modern Airbus A350-900, and 43 short and medium-haul aircraft).

“Air Lease Corporation is pleased and proud to be the launch Lessor for ITA to supply the new airline 31 new Airbus jet aircraft, including the most modern A220 and A320/321neo family jets, as well the latest environmentally friendly widebody aircraft on long-term operating leases from ALC’s orderbook.  These transactions will allow ITA to operate the most technologically advanced new aircraft to cover ITA’s European and Intercontinental route network with great efficiency,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “We look forward to a long-term successful partnership,” he said.

The Executive Chairman of ITA, Alfredo Altavilla, said: “The strategic partnership with Airbus and ALC is crucial for ITA to jumpstart our Business Plan aiming at achieving our targets of a new environmental-friendly fleet with significantly lower operating and leasing costs.  I want to thank both Christian Scherer, CCO of Airbus, and Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation, for their trust in the future of our brand-new airline.” 

“ITA has done a thorough clean sheet aircraft evaluation and has chosen Airbus across all segments.  This is very gratifying and a testimony of the great value of the Airbus product range.  It sets a benchmark in driving the decarbonization and efficiency agenda.  From the start, we have been working closely with ITA, listening carefully to their requirements.  Today we are proud and grateful to be alongside ITA in building its future together.  Grazie Mille!" said Christian Scherer, Airbus Chief Commercial Officer and Head of Airbus International.

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31 New Airbus aircraft for ITA...................... 15 A220s, 2 A320neos, 9 A321neos and 5 A330-900neos

The global aircraft leasing giant, Air Lease Corporation confirmed on Thursday 30 September that ITA, the new national airline of Italy, has agreed to lease 31 new ALC aircraft consisting of 15 A220s, two A320neos, nine A321neos and five A330-900neos on long-term lease from ALC’s orderbook with Airbus.  The 31 aircraft will deliver to the airline progressively beginning in the second half of 2022 through early 2025. 

In addition to these 31 ALC Airbus aircraft, ITA has signed a Memorandum of Understanding with Airbus for the purchase of 28 new aircraft: 10 Airbus A330neo aircraft for long-haul flights, seven Airbus A220 family regional jets and 11 Airbus A320neo family aircraft (deliveries for the latter to start after the completion of the business plan).

Overall, ITA will lease a total of 56 new Airbus aircraft over the course of the plan (13 long-haul jets, including the ultra-modern Airbus A350-900, and 43 short and medium-haul aircraft).

“Air Lease Corporation is pleased and proud to be the launch Lessor for ITA to supply the new airline 31 new Airbus jet aircraft, including the most modern A220 and A320/321neo family jets, as well the latest environmentally friendly widebody aircraft on long-term operating leases from ALC’s orderbook.  These transactions will allow ITA to operate the most technologically advanced new aircraft to cover ITA’s European and Intercontinental route network with great efficiency,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “We look forward to a long-term successful partnership,” he said.

The Executive Chairman of ITA, Alfredo Altavilla, said: “The strategic partnership with Airbus and ALC is crucial for ITA to jumpstart our Business Plan aiming at achieving our targets of a new environmental-friendly fleet with significantly lower operating and leasing costs.  I want to thank both Christian Scherer, CCO of Airbus, and Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation, for their trust in the future of our brand-new airline.” 

“ITA has done a thorough clean sheet aircraft evaluation and has chosen Airbus across all segments.  This is very gratifying and a testimony of the great value of the Airbus product range.  It sets a benchmark in driving the decarbonization and efficiency agenda.  From the start, we have been working closely with ITA, listening carefully to their requirements.  Today we are proud and grateful to be alongside ITA in building its future together.  Grazie Mille!" said Christian Scherer, Airbus Chief Commercial Officer and Head of Airbus International.

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Fifteen new Airbus aircraft for budget U.S. carrier Spirit Airlines from ALC

Global aircraft leasing giant, Air Lease Corporation confirmed this week the long-term lease placements for ten new Airbus A321-200neo aircraft and sale and lease-backs of five new Airbus A320-200neo aircraft with Spirit Airlines.  

The five A320neos are scheduled to deliver to Spirit Airlines in 2021 and 2022 and will be owned by one of ALC’s managed aircraft ventures through funds managed by Waterfall Asset Management.  The ten A321neos are scheduled to deliver to Spirit Airlines from ALC’s order book with Airbus beginning in 2023 through 2024. 

“ALC is pleased to announce this transaction for fifteen Airbus A320 & A321neos with Spirit Airlines,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “ALC is unmatched in our ability to offer highly customized fleet planning solutions to our airline partners.  Combining sale and leasebacks for near term deliveries of Spirit’s A320neos on behalf of our managed business with direct placement of ten of our A321neos from our order book with Airbus will further enhance Spirit Airlines’ overall operations and commitment to maintain a highly competitive, fuel-efficient fleet.”

“We appreciate our partnership with ALC on the financing of 15 new aircraft delivering now through 2024. This partnership helps us to achieve our previously announced capacity plans for 2022 and 2023, and our targeted growth in 2024, as we Invest in the Guest and deliver new exciting destinations,” said Scott Haralson, Chief Financial Officer of Spirit Airlines

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Ten used Airbus A320 aircraft for budget airline Allegiant................

Air Lease Corporation Announces Lease Placement of Ten Airbus A320 Aircraft with Allegiant

Aircraft leasing giant Air Lease Corporation confirmed this week that it had reached an agreement with the U.S. budget carrier Allegiant for the long-term lease placements for ten used Airbus A320-200 aircraft.  These jets are scheduled to be delivered to the airline beginning in the autumn of 2021 through summer 2022.  

“We are pleased to announce this lease placement for ten used Airbus A320s with new customer, Allegiant,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “These young A320 ALC aircraft will complement Allegiant’s all-Airbus fleet and support their growing North America operations.” 

“Bringing these ten aircraft into Allegiant’s fleet provides a number of advantages aligned with our unique business model and goals,” said Robert Neal, Allegiant’s Senior Vice President for Corporate Finance and Treasurer.  “As young, sharklet-equipped sister ships, they will not only afford efficient induction into our all-Airbus fleet but will also provide years of utilization beyond the typical life of previously-operated aircraft.  This transaction will be a valuable component of our fleet plan for 2022 and beyond.”

ALC is a leading 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 commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. 

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Air Lease Corporation deliver a brand new Airbus A321neo aircraft to SKY

Photo Airbus

This week,  the leasing giant Air Lease Corporation confirmed the delivery of one new brand new Airbus A321neo aircraft on long-term lease to SKY of  Chile.  This is the first Airbus A321neo to operate in Chile. 

“ALC is pleased to deliver this new Airbus A321neo aircraft to SKY and be the first to introduce the aircraft to the airline and country of Chile,” said Matthew Stevens, Assistant Vice President of Marketing at Air Lease Corporation.  “It is a privilege to work with SKY, and we believe this next-generation aircraft will positively contribute to the airline’s sustainability and fleet operations.”

SKY’s A321neo aircraft are powered by CFM Leap-1A engines and can seat up to 238 passengers in a two-class layout. SKY is the first airline in South America to operate the A321neo with a high density cabin configuration.

The A321neo has a 95 percent airframe commonality with Airbus’ A320 Family, fitting seamlessly into SKY’s existing fleet of 19 A320neo. This aircraft incorporates new generation engines and Sharklets, which together deliver more than 20 percent fuel and CO2 savings, as well as a 50 percent noise reduction. Additionally, The A321neo shares a common type rating with other members of the Airbus A320 Family, which allows A320 Family pilots to fly the aircraft without additional training.

SKY has been an Airbus customer since 2010 and became an all-Airbus operator in 2013. The A321neo will allow SKY to further expand their route offering in Latin America in the near future.

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Air Lease Corporation Activity Update for the Second Quarter of 2021

Air Lease Corporation announced an update on aircraft investments, sales, new significant financing, and recent rating updates occurring in the second quarter of 2021.

As of June 30, 2021, ALC’s fleet was comprised of 354 owned aircraft and 89 managed aircraft, with 339 new aircraft on order from Boeing and Airbus set to deliver through 2027.

Aircraft Investments

Delivered twelve new aircraft from ALC’s order book including two Airbus A320neos, three Airbus A321neos, one Airbus A330-900neo, one Airbus A350-900, two Boeing 737-8s, one Boeing 737-9, and two Boeing 787-9s

Aircraft investments in the quarter totalled approximately $1 billion, with the majority occurring in the second half of the quarter

Sales

No aircraft sales occurred during the quarter

Financing

Issued $1.2 billion of 1.875% senior unsecured medium-term notes due 2026

Issued $600 million of floating rate senior unsecured medium-term notes at LIBOR + 0.35% due 2022

Upsized senior unsecured revolving credit facility to $6.4 billion from $6.2 billion

Ratings

On July 1, 2021, ALC’s long-term rating from Fitch was affirmed at BBB with outlook revised to Stable from Negative

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Air Lease Corporation adds $100,000 to ISTAT Foundation matching campaign to benefit Airlink's Operation Airlift India

                             Air Lease Corporation has joined the International Society of Transport Aircraft Trading (ISTAT) Foundation in support of Airlink's Operation Airlift India bringing the combined donation to $230,000 for the purpose of immediate COVID-19 relief.

Air Lease Corporation is matching the ISTAT Foundation's initial $100,000 donation, helping surpass its original goal of raising $150,000 for this important initiative. The ISTAT Foundation has committed a total of $115,000 along with $15,000 raised by its membership in a Matching Gift Campaign in June.

"The ISTAT Foundation is delighted to have Air Lease Corporation join us as Lead Sponsors for Airlink's Operation Airlift India COVID-19 relief effort," said Peter Huijbers, Chair of the ISTAT Foundation. "This is not only a significant boost to the Airlink relief effort in India, but also a demonstration of joint philanthropic objectives between the two organizations and its members over a long period of time. A big thank you to John Plueger and the entire ALC team."