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Air Lease Corporation Announces Lease Placement of 15 New Airbus A321XLR Aircraft with Air Canada
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Air Lease Corporation (NYSE: AL) has announced the long-term lease of 15 new Airbus A321XLR aircraft to Air Canada, with deliveries scheduled for 2024 and 2025. This agreement aims to enhance Air Canada's network expansion and aligns with its sustainability goals, including cost reduction and emissions management. Air Lease's CEO, John L. Plueger, emphasized the significance of this partnership, while Air Canada's CFO, Amos Kazzaz, highlighted its importance for maintaining competitive advantage and fulfilling ESG objectives.
Positive
Long-term lease of 15 Airbus A321XLR aircraft enhances Air Lease's portfolio.
Strengthens strategic partnership with Air Canada, a leading airline.
Supports Air Canada's sustainability and emissions reduction goals.
Negative
None.
LOS ANGELES--(BUSINESS WIRE)--
Today Air Lease Corporation (NYSE: AL) announced long-term lease placements for 15 new Airbus A321XLR aircraft with Air Canada. The new aircraft are scheduled to deliver in 2024 and 2025 from ALC’s orderbook with Airbus.
“We’re honored to significantly expand our long-term relationship with Air Canada with the lease of these 15 advanced-technology, environmentally friendly A321XLR aircraft, which will facilitate significant network expansion with the highest levels of service and comfort for Air Canada’s passengers,” said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation.
“This agreement with Air Lease is key to Air Canada achieving its sustainability goals of lowering costs and moving forward on our emission reduction and other ESG objectives through fleet renewal. Moreover, this partnership with one of the world’s leading aircraft leasing companies is an important endorsement of Air Canada’s long-term strategic vision to remain a highly competitive, top global airline,” said Amos Kazzaz, Executive Vice President and Chief Financial Officer at Air Canada.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.
About Air Lease Corporation (NYSE: AL)
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. ALC routinely posts information that may be important to investors in the “Investors” section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.
About Air Canada
Air Canada is Canada's largest domestic and international airline, and in 2019 was among the top 20 largest airlines in the world. It is Canada's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Air Canada is the only international network carrier in North America to receive a Four-Star ranking according to independent U.K. research firm Skytrax. In 2020, Air Canada was named Global Traveler's Best Airline in North America for the second straight year. In January 2021, Air Canada received APEX's Diamond Status Certification for the Air Canada CleanCare+ biosafety program for managing COVID-19, the only airline in Canada to attain the highest APEX ranking. Air Canada has also committed to a net zero emissions goal from all global operations by 2050. For more information, please visit: aircanada.com/media, follow Air Canada on Twitter and LinkedIn, and join Air Canada on Facebook.
What is the significance of the lease agreement between Air Lease Corporation and Air Canada?
The lease agreement is significant as it involves 15 Airbus A321XLR aircraft, helping Air Canada expand its network while fulfilling its sustainability goals.
When will the new Airbus A321XLR aircraft be delivered to Air Canada?
The new Airbus A321XLR aircraft are scheduled to be delivered in 2024 and 2025.
How does this lease agreement impact Air Lease Corporation's business?
This lease agreement positively impacts Air Lease Corporation by expanding its fleet and strengthening its relationship with a major airline customer.
What are Air Canada's sustainability goals related to this lease?
Air Canada's sustainability goals include lowering costs and reducing emissions through fleet renewal, supported by the lease of advanced aircraft.
What type of aircraft is included in the lease agreement with Air Canada?
The lease agreement includes 15 Airbus A321XLR aircraft, known for their advanced technology and environmental efficiency.
