Air Lease Corporation Announces Lease Placement of 31 New Airbus Aircraft with ITA

Rhea-AI Summary

Air Lease Corporation (NYSE: AL) has secured a significant deal with ITA, Italy's new national airline, to lease 31 new Airbus aircraft, including A220s, A320neos, A321neos, and A330-900neos. Deliveries will commence in late 2022 and extend through early 2025. Additionally, ITA has signed a Memorandum of Understanding with Airbus for 28 new aircraft purchases. This partnership aims to establish an environmentally friendly fleet while enhancing operational efficiency. ALC's Executive Chairman expressed pride in supporting ITA's growth strategy.

Positive

• Secured leasing of 31 new Airbus aircraft, enhancing ALC's orderbook.
• Long-term partnership with ITA expected to drive future revenue growth.
• Collaboration with Airbus emphasizes commitment to environmentally friendly operations.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Air Lease Corporation (NYSE: AL) announced today 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.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210930005957/en/

Investors:

Mary Liz DePalma

Vice President, Investor Relations

Email: investors@airleasecorp.com

Jason Arnold

Assistant Vice President, Finance

Email: investors@airleasecorp.com

Media:

Laura Woeste

Senior Manager, Media and Investor Relations

Email: press@airleasecorp.com

Ashley Arnold

Manager, Media and Investor Relations

Email: press@airleasecorp.com

Source: Air Lease Corporation

FAQ

What is the aircraft leasing deal between Air Lease Corporation and ITA?

Air Lease Corporation (NYSE: AL) has agreed to lease 31 new Airbus aircraft to ITA, Italy's new national airline, to be delivered from late 2022 through early 2025.

How many aircraft will ITA lease from Air Lease Corporation?

ITA will lease a total of 31 aircraft, including A220s, A320neos, A321neos, and A330-900neos from Air Lease Corporation.

When will the aircraft leased by ITA be delivered?

The 31 aircraft leased by ITA will be delivered progressively starting in the second half of 2022 through early 2025.

What is the significance of the partnership between Air Lease Corporation and ITA?

The partnership is significant as it marks ITA's launch and supports its strategy for an environmentally friendly fleet with lower operating costs.

Did ITA sign any additional agreements with Airbus?

Yes, ITA signed a Memorandum of Understanding with Airbus for the purchase of 28 new aircraft in addition to the leasing agreement with Air Lease Corporation.