Air Lease Corp announces agreements with Asia Pacific airlines
Air Lease Corporation released a trading update, announcing it has signed lease agreements for 29 aircraft with Asia Pacific airlines. Lease agreements have been signed with customers including China Eastern, China Southern, Air China, Asiana, Garuda, MIAT Mongolian and Orient Thai 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