Air Lease Corporation (ALC) has signed a Letter of Intent (LoI) 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.
“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.”
Udvar-Hazy added: ”ALC was the launch customer for the very popular A321LR and XLR versions. Now, we become the launch lessor for the A350F and by far the largest lessor customer for the A220. We had the vision to be first adopters of the A321 and are convinced we have made the right choice again on the A220 and A350F, responding to what we see the market will need in the period of recovery ahead. In addition we are very enthusiastic to have inked a partnership for a sustainability fund which will contribute to the green future for our industry.”