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Air Lease Corporation Announces Lease Placement of Nine New Boeing 737 Aircraft with Corendon Airlines Group
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Rhea-AI Summary
Air Lease Corporation (NYSE: AL) announced long-term lease agreements for nine new Boeing 737 aircraft with Corendon Airlines Group. The deal entails the delivery of five 737-8 aircraft in Spring 2022 and one in Q1 2023, alongside three 737-9 aircraft scheduled for the first half of 2023. These modern aircraft are intended to enhance Corendon's fleet operations and passenger experience. Executive Chairman Steven F. Udvar-Házy highlighted ALC's significant role in supporting Corendon's operations across multiple countries.
Positive
Long-term lease placement for nine new Boeing 737 aircraft signifies a solid revenue stream for ALC.
The deal enhances Corendon's fleet efficiency with modern, fuel-efficient aircraft, likely improving operational performance.
Negative
None.
LOS ANGELES--(BUSINESS WIRE)--
Today, Air Lease Corporation (NYSE: AL) announced long-term lease placements for nine new Boeing 737 aircraft with Corendon Airlines Group. Five new 737-8 aircraft are confirmed to deliver to Corendon Airlines (Turkey) in Spring 2022 and one new 737-8 will deliver to the Turkish airline in the first quarter of 2023. Corendon Airlines Group will lease three new 737-9 aircraft that are scheduled to deliver to the airline starting in the first half of 2023. All nine 737 aircraft will deliver from ALC’s orderbook with Boeing.
“ALC is a major lessor to the Corendon Airlines Group with three operating airlines in the Netherlands, Malta and Turkey, and we are pleased to announce these lease placements today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “These nine new Boeing 737 aircraft offer the most modern, fuel-efficient new technology that will greatly enhance Corendon’s overall fleet operations and passenger experience.”
“We appreciate and thank ALC for the long-time cooperation and fleet support,” said Yildiray Karaer, Chairman of the Corendon Group.
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 Corendon Airlines Group
Established in the Netherlands in the early 2000s, Corendon is an international tourism group specializing in air transportation. Corendon Airlines, which has three different registered airlines including Turkey, the Netherlands, and Malta, carries more than ten million passengers a year through its tourist flights from Europe to popular holiday destinations as well as direct flights from Europe to many cities of Anatolia.
What aircraft is Air Lease Corporation leasing to Corendon Airlines?
Air Lease Corporation is leasing nine new Boeing 737 aircraft to Corendon Airlines.
When will the Boeing 737 aircraft be delivered to Corendon Airlines?
Five Boeing 737-8 aircraft are scheduled for delivery in Spring 2022, one in the first quarter of 2023, and three Boeing 737-9 aircraft in the first half of 2023.
How does the new lease with Corendon Airlines benefit Air Lease Corporation?
The long-term leases provide a stable revenue stream and highlight ALC's role as a key lessor in the aviation market.
What is the significance of the aircraft leasing deal for Corendon Airlines?
The leasing of modern, fuel-efficient Boeing 737 aircraft will enhance Corendon's fleet operations and improve passenger experience.
