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Air Lease Corporation Announces Lease Placement of Six Boeing 737-8 Aircraft with LOT Polish Airlines
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Air Lease Corporation (NYSE: AL) has announced a long-term lease of six Boeing 737-8 aircraft to LOT Polish Airlines, set to deliver in October 2022. This expansion will double ALC's aircraft portfolio with LOT to 12 planes, enhancing the airline's fleet modernization efforts since 2017. ALC's Executive Chairman emphasized the significance of this partnership for LOT's network strategy. Meanwhile, LOT is in the process of selecting a new fleet for its regional and narrow-body segments, with these aircraft serving as a bridging solution.
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Expansion of ALC's lease portfolio with LOT to 12 aircraft.
LOS ANGELES--(BUSINESS WIRE)--
Today Air Lease Corporation (NYSE: AL) announced long-term lease placements for six Boeing 737-8 aircraft with LOT Polish Airlines. All aircraft are scheduled to deliver to LOT in October 2022 and will add to the five Boeing 737-8 and one Dreamliner aircraft currently on lease to the Polish airline from ALC.
“We are honored and pleased to expand our long relationship with LOT by leasing the airline six modern 737-8 jet aircraft, in addition to the six airplanes currently on lease, doubling the size of the ALC owned portfolio to 12 aircraft at LOT. ALC has played an important role in the recent fleet modernization program of LOT since late 2017 and these six additional aircraft will support LOT’s network and development strategy,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.
“LOT is in the process of selecting a new fleet in the regional and narrow-body segment. Until a supplier is selected, we are planning to source aircraft as a bridging solution - the first Embraer 175 and 190 have already joined LOT Polish Airlines' fleet and will soon be followed by the Boeing 737-8. I am very pleased to see these reliable and economical aircraft completing our single-aisle fleet,” said Maciej Wilk, Chief Operating Officer of LOT Polish Airlines.
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 LOT Polish Airlines
LOT Polish Airlines is a modern airline that connects Central and Eastern Europe with the world. It provides nearly 5 million passengers a year with the shortest and most comfortable travel options to almost 60 destinations worldwide via Warsaw, a competitive hub that offers fast connections. As the only carrier in the region, LOT offers direct long-haul flights to New York, Chicago, Newark, Los Angeles, Toronto, Beijing, Tokyo and Seoul. It flies one of the youngest fleets in Europe and, as the only airline, operates the Boeing 787 Dreamliner, the world's most advanced aircraft, on all long-haul connections. LOT relies primarily on the passion and positive energy of its team members, including top ranking pilots in the global aviation business, often champions in many aviation sports. With 87 years of experience, LOT is also one of the oldest airlines in the world and the most internationally recognized Polish brand.
What did Air Lease Corporation announce regarding LOT Polish Airlines?
Air Lease Corporation announced a long-term lease of six Boeing 737-8 aircraft to LOT Polish Airlines, which will double the fleet size to 12 aircraft.
When are the new Boeing 737-8 aircraft scheduled to deliver?
The new Boeing 737-8 aircraft are scheduled to deliver to LOT Polish Airlines in October 2022.
How does this lease agreement impact LOT Polish Airlines?
The lease agreement supports LOT's fleet modernization efforts and enhances its operational capabilities.
What is the stock symbol for Air Lease Corporation?
The stock symbol for Air Lease Corporation is AL.
How many aircraft does Air Lease Corporation currently lease to LOT Polish Airlines?
Before this deal, Air Lease Corporation leased five Boeing 737-8 and one Dreamliner aircraft to LOT Polish Airlines.
