Air Lease Corporation Announces the Delivery of One Airbus A321-200neo Aircraft to Centrum Air (Uzbekistan)

Rhea-AI Summary

Air Lease (NYSE: AL) has announced the long-term lease placement and delivery of one used Airbus A321-200neo aircraft to Centrum Air (Uzbekistan). This marks Centrum Air's first A321neo, enhancing its fleet capabilities. AJ Abedin, Senior VP of Air Lease , highlighted the benefits for Centrum Air and its passengers, including new destinations, operational efficiencies, and a premium travel experience. Centrum Air's CEO, Abdulaziz Abdurakhmanov, expressed enthusiasm about the addition, stating it will strengthen their market position and improve passenger comfort and safety. The lease placement aligns with Centrum Air's growth strategy in the rapidly expanding Uzbek air transport market.

Positive

• Long-term lease placement of an Airbus A321-200neo aircraft to Centrum Air
• Expansion of Centrum Air's fleet with a more efficient aircraft model
• Potential for new destinations and improved operational efficiency for Centrum Air
• Strengthening of Centrum Air's market position in Uzbekistan

Negative

• None.

Insights

Financial Analyst

The delivery of an Airbus A321-200neo aircraft to Centrum Air represents a minor positive development for Air Lease (NYSE: AL). While this single aircraft lease is unlikely to significantly impact AL's financial performance, it does highlight the company's ongoing business operations and market presence.

From an investor's perspective, this transaction demonstrates AL's ability to place aircraft with emerging market carriers, potentially opening doors for future business opportunities in the growing Uzbekistan market. However, the financial impact of a single aircraft lease is typically minimal for a company of AL's size.

It's worth noting that this is Centrum Air's first A321neo, which could lead to follow-on orders if the airline finds the aircraft suitable for its operations. This could potentially benefit AL in the long term, but investors should not expect immediate material impact on the company's financials or stock performance from this single transaction.

Overall, while this news showcases AL's ongoing business activities, it does not provide substantial new information that would likely influence investment decisions or significantly alter the company's valuation in the short term.

LOS ANGELES--(BUSINESS WIRE)-- Air Lease Corporation (NYSE: AL) announced the long-term lease placement and delivery of one used Airbus A321-200neo aircraft with Centrum Air (Uzbekistan), one of the leading airlines in Uzbekistan. This aircraft is the airline’s first A321neo.

“We are very pleased with the placement of this A321neo aircraft with Centrum Air. Centrum and its sister cargo-airline, My Freighter, have been successfully serving the rapidly growing Uzbek air transport market since 2019,” said AJ Abedin, Senior Vice President of Air Lease Corporation. “With the addition of this state-of-the-art A321neo, the airline and its passengers will benefit from new destinations, operational efficiencies and a premium travel experience.”

"We are delighted to announce the addition of this Airbus A321neo to our fleet. This is a significant step in the development of our airline, which will strengthen our position in the market and offer our passengers further comfort and safety," said Centrum Air Founder and Chief Executive Officer, Abdulaziz Abdurakhmanov.

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 Centrum Holdings

Centrum Holdings is a family of companies focused on passenger air travel and cargo transportation in Uzbekistan.

Founded in 2023, Centrum Air is among the leading airlines in Uzbekistan, offering scheduled and charter flights to Dubai, Istanbul, Tbilisi, Batumi, Sharm el Sheikh, and Issyk Kul. The airline’s fleet is composed of Airbus A320/A321 family aircraft, with the addition of A321neos beginning in the second half of 2024.

Founded in 2019, My Freighter is a leading air cargo transportation provider in Uzbekistan. With a fleet of five Boeing BCF 767-300ER aircraft, My Freighter leverages Uzbekistan’s unique geographical location to connect Asia and Europe on the “new Silk Road.” Operations currently extend from Central Asia to East Asia, the Middle East, Europe, North and South America, and Africa.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240725535955/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 aircraft did Air Lease (AL) deliver to Centrum Air?

Air Lease (AL) delivered one used Airbus A321-200neo aircraft to Centrum Air of Uzbekistan.

How will the A321neo benefit Centrum Air's operations?

The A321neo will allow Centrum Air to explore new destinations, improve operational efficiencies, and offer passengers a premium travel experience.

Is this the first A321neo for Centrum Air?

Yes, this is Centrum Air's first A321neo aircraft.

What is the significance of this lease for Air Lease (AL)?

This lease placement expands AL's presence in the growing Uzbek air transport market and strengthens its relationship with Centrum Air.