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Air Lease Corporation Announces Lease Placement of 19 New Airbus Aircraft with Condor
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Air Lease Corporation (NYSE: AL) has announced a significant lease agreement for 19 new Airbus aircraft with Condor, including 17 A321neos and 2 A320neos, scheduled for delivery from early 2024 to mid-2027. This collaboration highlights ALC's strong relationship with Condor, enhancing the airline's fleet with modern, fuel-efficient options to maintain competitiveness in the European market. The leased aircraft will support Condor's modernization efforts, aiming for one of the greenest fleets in Europe.
Positive
Long-term lease of 19 new Airbus aircraft enhances Condor's fleet capabilities.
Strengthens ALC's relationship with Condor, a key customer in the German market.
New aircraft are modern and fuel-efficient, benefiting Condor's operational efficiency.
Negative
None.
LOS ANGELES--(BUSINESS WIRE)--
Today Air Lease Corporation (NYSE: AL) announced long-term lease placements for 19 new Airbus aircraft with Condor (Germany), including 17 Airbus A321neos and two A320neos. The new aircraft are scheduled to deliver to the airline starting in early 2024 through mid-2027 from ALC’s order book with Airbus. ALC currently leases five aircraft to Condor, including three A321s and two A320s.
“This significant lease placement for 19 Airbus new generation aircraft continues ALC’s excellent relationship with Condor, one of our key German airline customers,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “The A321neo and A320neo are fundamental to Condor’s fleet operations and to maintain the airline’s highly competitive position in the European market.”
“These 19 new Airbus aircraft will provide enhancements to Condor’s customer products as the airline continues to add the most modern, fuel-efficient aircraft to their expanding fleet and offer the highest quality service,” added Lauren Kervick, Assistant Vice President of Air Lease Corporation.
“We are looking forward to continuing our partnership with ALC in the future. We are thankful for this collaboration as it supports Condor in reaching its next milestones,” says Ralf Teckentrup, CEO of Condor. “With the replacement of our entire long-haul fleet, it‘s the obvious next step for us to modernize our short/medium-haul fleet as well. We consistently focus on modern technology, maximum efficiency and the highest customer comfort and as a result, will have one of the greenest fleets in Europe.”
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)
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. The company routinely posts information that may be important to investors in the “Investors” section of its website at www.airleasecorp.com. Investors and potential investors are encouraged to consult Air Lease Corporation’s website regularly for important information. 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 Condor
As Germany's most popular leisure airline, Condor has been taking its guests to the world's most beautiful holiday destinations for more than 66 years. Every year, more than nine million guests fly with Condor from the nine largest airports in Germany, from Zurich in Switzerland and Vienna in Austria to around 90 destinations in Europe, Africa and America. Condor operates a fleet of over 50 aircraft, which are maintained by the company's own maintenance operation, Condor Technik GmbH, according to the highest safety standards at the Frankfurt and Dusseldorf locations.
