Air Lease Corporation Announces Lease Placement of Two New Boeing 737-8 Aircraft with LOT Polish Airlines

Rhea-AI Summary

Air Lease Corporation (AL) has announced the long-term lease placements of two new Boeing 737-8 aircraft with LOT Polish Airlines. The aircraft are scheduled to deliver in mid-2024 and will join the existing fleet leased from ALC. This lease agreement strengthens the long-term relationship between ALC and LOT, supporting LOT's fleet modernization program.

LOS ANGELES--(BUSINESS WIRE)-- Today, Air Lease Corporation (NYSE: AL) announced long-term lease placements for two new Boeing 737-8 aircraft with LOT Polish Airlines. Both aircraft are scheduled to deliver to LOT in mid-2024, and will add to the 11 Boeing 737-8s and one 787-9 Dreamliner aircraft already on lease from ALC.

“We are pleased to further expand our long-term relationship with LOT by leasing the airline an additional two new 737-8 jet aircraft. ALC has played an important strategic role in LOT’s fleet modernization program, as LOT’s largest lessor, and these 737-8s will further enhance the airline’s fleet and network capabilities with new fuel-efficient narrowbody aircraft,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231031186518/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 company involved in the lease agreement?

The lease agreement involves Air Lease Corporation (AL).

Which airline is leasing the two new Boeing 737-8 aircraft?

LOT Polish Airlines is leasing the two new Boeing 737-8 aircraft.

When are the aircraft scheduled to deliver?

The aircraft are scheduled to deliver to LOT in mid-2024.

How many Boeing 737-8s and 787-9 Dreamliner aircraft are already on lease from ALC?

ALC already has 11 Boeing 737-8s and one 787-9 Dreamliner aircraft on lease.

What role has ALC played in LOT's fleet modernization program?

ALC has played an important strategic role in LOT's fleet modernization program as LOT's largest lessor.

What are the benefits of the new 737-8 aircraft for LOT?

The new 737-8 aircraft will enhance LOT's fleet and network capabilities with new fuel-efficient narrowbody aircraft.