Air Lease Corporation orders five ATR 72-600s

The European turboprop manufacturer ATR and the leasing company Air Lease Corporation (NYSE: AL) announced an agreement today for the purchase of five ATR 72-600s. Air Lease Corporation (ALC) has purchased ATRs every year since its first order for 10 aircraft at Farnborough in 2010, and this order will bring ALC's ATR fleet to 21 aircraft.

Since ALC's first order three years ago, ATR has received nearly 110 firm orders from leasing companies, representing approximately one quarter of its total orders for this period. Leasing companies have become increasingly interested in the popularity of ATRs, with more than 180 operators worldwide. Since 2010, ATR 72-600s accounted for three quarters of all regional aircraft with up to 90 seats purchased by all lessors worldwide.

Steven Udvar-Hazy, Chairman and Chief Executive Officer of Air Lease Corporation stated, "ATR aircraft are fuel-efficient, offer operational flexibility, and are equipped with comfortable cabins for their passengers. These advantages allow the 180 worldwide operators to increase economic and environmental efficiency when flying shorter routes. This aircraft has been great fit for a number of our regional airline customers."

Filippo Bagnato, Chief Executive Office of ATR, said that "when we received our first order from ALC in 2010, we said that we were confident that the importance and prestige of this lessor was going to open up excellent opportunities with leasing companies. Three years later, we are very pleased with the success that not only ALC has had with our ATR 72-600s, but also the success seen with lessors overall." And he added: "The ATR 72-600 is the investment community's and aircraft operators' favorite for the regional market, and we are proud of this recognition."