Air Lease Corporation Announces Lease Placement of Four New Airbus A321XLR Aircraft with Air Transat

Rhea-AI Summary

Air Lease Corporation (NYSE: AL) has secured long-term lease agreements for four Airbus A321XLR aircraft with Air Transat, marking a significant milestone in fleet renewal. Deliveries are scheduled to begin in late 2025, with an option for a fifth aircraft in 2027. This partnership aims to enhance Air Transat's operational efficiency and customer service. Steven Udvar-Házy, Executive Chairman of ALC, highlighted the comfort and efficiency the A321XLR will bring, while Air Transat's CEO noted the aircraft's strategic importance in their operational flexibility and transatlantic program.

Positive

• Long-term lease of four Airbus A321XLRs strengthens Air Lease's portfolio.
• Deliveries starting in late 2025 enhance revenue forecasts.
• Partnership with Air Transat reflects strong demand for new aircraft.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Today Air Lease Corporation (NYSE: AL) announced long-term lease placements for four new Airbus A321XLR aircraft with Air Transat (Canada). Three new aircraft are confirmed to deliver to the airline starting at the end of 2025 through 2026 from ALC’s order book with Airbus. The agreement also includes an option for one additional A321XLR aircraft to be delivered in 2027.

“ALC is pleased to announce this lease placement for four new A321XLRs with Air Transat and be the first to introduce the XLR to the Canadian airline,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “The A321XLR will bring new levels of comfort and excellent service to Air Transat’s passengers, while providing significant enhancements to the airline’s operational efficiency.”

"Air Transat's new leasing agreement with our long-trusted partner ALC represents another key milestone in the renewal and simplification of our fleet undertaken since 2017. Along with A321LRs, XLRs figure as a cornerstone of Transat's 2022-2026 strategic plan. These aircraft can improve the quality of our transatlantic program by increasing the number of frequencies per week with the same capacity, representing a more attractive offer for our customers. Adding these three new XLRs to our fleet - with a fourth optional one - will allow us greater operational flexibility as this type of aircraft is very well suited to our needs across our programs annually," stated Annick Guérard, President and Chief Executive Officer of Transat.

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 Air Transat

Founded in Montreal 35 years ago, Air Transat is a leading leisure travel brand. Voted World’s Best Leisure Airline by passengers at the Skytrax World Airline Awards, it flies to international, transborder and Canadian destinations, striving to serve its customers with enthusiasm and friendliness at every stage of their trip or stay, and emphasizing safety throughout. It is renewing its fleet with the greenest aircraft in their category as part of a commitment to a healthier environment, knowing that this is essential to its operations and the magnificent destinations it offers. Air Transat is a business unit of Transat A.T. Inc. (TSX: TRZ). To find out more, visit airtransat.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220908005458/en/

Investors:



Jason Arnold

Vice President, Investor Relations

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 aircraft has Air Lease Corporation leased to Air Transat?

Air Lease Corporation has leased four Airbus A321XLR aircraft to Air Transat.

When will the Airbus A321XLR aircraft be delivered to Air Transat?

The deliveries of the Airbus A321XLR aircraft are set to start at the end of 2025 and continue through 2026.

What is the significance of the lease agreement for Air Transat?

The lease agreement is part of Air Transat's fleet renewal strategy and aims to improve operational flexibility and enhance their transatlantic program.

Does the agreement with Air Transat include options for future aircraft?

Yes, the agreement includes an option for one additional A321XLR aircraft to be delivered in 2027.

What is the ticker symbol for Air Lease Corporation?

The ticker symbol for Air Lease Corporation is AL.