03-May-2011 3:41 PM
Air Lease Corp announces agreements with Asia Pacific airlines
- China Southern Airlines: Long-term lease agreements for two new A320-200s, for delivery in Nov-2011 and Dec-2011;
- Air China: 12-year lease agreements for two new A330-200 aircraft for deliveries in Jul-2011 and Oct-2011;
- China Eastern Airlines: Long-term lease agreements for 10 new A320-200s and five new B737-800s, for deliveries in 2012 and 2013. This is the largest single-lease placement to date for ALC.
- ALC will also acquire three B767-300ERs from China Eastern, two of which have been placed under lease with MIAT Mongolian for delivery in May-2011 and Nov-2011 and one to Orient Thai Airlines for delivery in Aug-2011. The transaction with China Eastern includes nearly USD700 million of new and used aircraft;
- Asiana: Lease agreements for two new A321-200s for delivery in May-2012 and Nov-2012, and one new A330-300 for delivery in Jul-2012. The A321-200s have an eight-year lease, and the A330-300 has a 10-year lease;
- Garuda: 12-year lease agreements for three new B737-800s, for delivery in Nov-2013, Dec-2013 and Sep-2014;
- MIAT Mongolian: Lease agreements for the two used B767-300ERs for delivery in May-2011 and Nov-2011, and one new B737-800 for delivery in May-2014.
Selected Lessors daily share price movements (% change): 3-May-2011