Air Lease Corporation Announces Lease Placement of Three New Boeing 737-8 Aircraft with Aeroitalia

Rhea-AI Summary

Air Lease Corporation (NYSE: AL) announced long-term leases for three Boeing 737-8 aircraft with Italian airline Aeroitalia. Deliveries are scheduled between 2023 and 2024. Executives from both companies highlighted the efficiency and growth potential of these aircraft for Aeroitalia, supporting its business expansion and sustainability goals. The deal emphasizes the strengthening relationship between ALC and Aeroitalia, with expectations of improved operational capacity for the airline.

Positive

• Long-term lease of three new Boeing 737-8 aircraft enhances operational efficiency for Aeroitalia.
• Deal supports Aeroitalia's growth and sustainability objectives.
• Strengthens business relationship between ALC and Aeroitalia.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- Today Air Lease Corporation (NYSE: AL) announced long-term lease placements for three new Boeing 737-8 aircraft with Aeroitalia. These three new Boeing aircraft are scheduled to deliver to the Italian airline from ALC’s order book with Boeing beginning in 2023 through 2024.

“We are very pleased to announce this placement of three new Boeing 737-8 aircraft with Aeroitalia,” said Steven F. Udvar–Házy, Executive Chairman of Air Lease Corporation. “The capabilities of the Boeing 737-8 will greatly enhance Aeroitalia’s operational efficiency and expanding fleet with the most modern, fuel-efficient aircraft.”

“With this placement, Aeroitalia’s team of seasoned airline industry veterans are prudently growing their fleet and operations to meet the needs of the airline’s steadily growing business,” said AJ Abedin, Vice President of Marketing at Air Lease Corporation.

Gaetano Intrieri, Chief Executive Officer of Aeroitalia, added: “With this lease agreement, we strengthen our business relations with ALC. We consider this deal a very important step for Aeroitalia in its plan for sustainable green growth and to support the Italian market. Our team is very proud of the support and trust we have received from ALC, one of the most important worldwide lessors. Let me give a special thanks to Mr. Hazy for believing in our project.”

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 Aeroitalia

Aeroitalia is a new Italian airline with entirely private capital, born from the foresight of professionals in the air transport sector. Headquartered in Rome and starting up hub in Forlì, Aeroitalia currently operates charter and regional scheduled routes across Europe with a fleet of three Boeing 737-800 aircraft.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221031005909/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 is Air Lease Corporation leasing to Aeroitalia?

Air Lease Corporation is leasing three Boeing 737-8 aircraft to Aeroitalia.

When are the Boeing 737-8 aircraft scheduled to be delivered?

The deliveries of the Boeing 737-8 aircraft are scheduled from 2023 through 2024.

What is the significance of the lease agreement for Aeroitalia?

The lease agreement is crucial for Aeroitalia's operational efficiency and supports its growth in the Italian market.

Which stock symbol represents Air Lease Corporation?

Air Lease Corporation is represented by the stock symbol AL.