Air Lease Corporation Announces Lease Placement of Three New Airbus A321neo Aircraft with LATAM Airlines

Rhea-AI Summary

Air Lease Corporation (NYSE: AL) has announced long-term leases for three new Airbus A321neo aircraft with LATAM Airlines, set for delivery in summer and fall of 2023. This marks a significant milestone in LATAM’s fleet modernization strategy, as stated by Executive Chairman Steven Udvar-Házy. The press release includes forward-looking statements, emphasizing that actual results may differ from projections due to various factors. Investors are encouraged to monitor ALC's website for updates and important information.

Positive

• Long-term leases for three Airbus A321neo aircraft enhance ALC's leasing portfolio.
• Strengthens business relationship with LATAM Airlines, the largest airline in South America.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Today Air Lease Corporation (NYSE: AL) announced long-term lease placements for three new Airbus A321neo aircraft with LATAM Airlines. The aircraft are scheduled to deliver to LATAM in summer and fall of 2023 from ALC’s orderbook with Airbus.

“We are pleased to announce the long-term leases of three new Airbus A321neo aircraft to the largest airline in South America: LATAM Airlines,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “This is another important step in LATAM’s fleet modernization and network strategy optimization.”

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 LATAM Airlines Group S.A.

LATAM is Latin America’s leading airline group, with presence in five domestic markets in South America: Brazil, Chile, Colombia, Ecuador and Peru, along with international operations within Latin America and to Europe, US and the Caribbean. The group operates a fleet including Boeing 787, Airbus A350, A321, A320neo and A319 aircraft, the most modern models of their kind. LATAM is the only airline group of the Americas and one three in the world to join the Dow Jones Sustainability Index World, where it’s recognized for its sustainable practices, based on three criteria: economics, social and environmental. The shares of LATAM Airlines Group are traded in the Santiago Stock Exchange and in the US, its ADRs are traded in the OTC (over-the-counter) markets.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220601005566/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 LATAM Airlines?

Air Lease Corporation has leased three Airbus A321neo aircraft to LATAM Airlines.

When are the Airbus A321neo aircraft scheduled for delivery?

The aircraft are scheduled for delivery in summer and fall of 2023.

What is the significance of the lease agreement for Air Lease Corporation?

The lease agreement strengthens ALC's portfolio and supports LATAM's fleet modernization strategy.

What stock symbol represents Air Lease Corporation?

The stock symbol for Air Lease Corporation is AL.