Air Lease Corporation Announces Lease Placement of Six New Airbus A220 Aircraft with Croatia Airlines

Rhea-AI Summary

Air Lease Corporation (NYSE: AL) announced the long-term lease placement of six Airbus A220 aircraft with Croatia Airlines. This includes four A220-300s and two A220-100s, with deliveries scheduled from 2024 to 2025. Executive Chairman Steven F. Udvar-Házy expressed satisfaction regarding this partnership, highlighting its significance in the airline's effort to modernize and expand its fleet with fuel-efficient jets. While the announcement includes forward-looking statements concerning delivery dates, actual outcomes may vary based on various factors. ALC continues its operations as a prominent global aircraft leasing company based in Los Angeles.

Positive

• Long-term lease of six new Airbus A220 aircraft enhances ALC's portfolio.
• Partnership with Croatia Airlines marks a strategic expansion into the European market.
• Delivery schedule from 2024 to 2025 indicates future revenue growth.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Today Air Lease Corporation (NYSE: AL) announced long-term lease placements for six new Airbus A220 aircraft with Croatia Airlines, including four A220-300s and two A220-100s. The aircraft are scheduled to deliver to Croatia Airlines beginning in 2024 through 2025 from ALC’s order book with Airbus.

“We are pleased to announce this lease placement for six new Airbus A220 aircraft with Croatia Airlines,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “ALC looks forward to a successful long-term relationship with Croatia Airlines as the airline modernizes and expands its fleet with the newest and most fuel-efficient jets.”

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 Croatia Airlines

Croatia Airlines, the national air carrier of Croatia, has been carrying passengers and cargo in domestic and international traffic for more than 30 years. Through its hub in Zagreb, Croatia Airlines serves dozens of destinations in Europe including Austria, Belgium, France, Germany, Italy, Netherlands, Switzerland and the United Kingdom.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230116005120/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

Senior Manager, Media and Investor Relations

Email: press@airleasecorp.com

Source: Air Lease Corporation

FAQ

What is the significance of the recent Airbus A220 lease announcement by AL?

Air Lease Corporation's lease of six Airbus A220 aircraft to Croatia Airlines signifies a strategic expansion and modernization of fleet operations, with potential future revenue growth.

When will the A220 aircraft be delivered to Croatia Airlines?

The Airbus A220 aircraft are scheduled for delivery to Croatia Airlines between 2024 and 2025.

How does this leasing agreement impact Air Lease Corporation's future?

The leasing agreement with Croatia Airlines strengthens AL's market position and could lead to increased revenue as the airline modernizes its fleet.