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Air Lease Corp widening client base

Steven Udvar-Házy's Air Lease Corporation has been busily diversifying its client base announcing lease agreements for ten widebodies this week, to eight different customers on three separate continents.

ALCs A330-200, A330-300 and B777-300ER aircraft were placed as follows:

  • Vietnam Airlines: Lease agreements through 2019 covering two new A330-200s delivering in Oct-2011 and Nov-2011;
  • Sichuan Airlines: ALC acquired an A330-200 on lease to Sichuan Airlines through 2022;
  • KLM: Lease agreement through 2020 for a new A330-300 scheduled for delivery in Feb-2012;
  • Air France: Leased a B777-300ER through 2019; this follows a new B777-300ER leased to Air France by ALC which was delivered in Dec-2010;
  • Alitalia: 12 year lease agreements for three new A330-200 aircraft delivering in Apr-2011, May-2011 and Sep-2011;
  • Air Austral: Leased a new B777-300ER on lease through 2019;
  • Hawaiian Airlines: Signed a 12 year lease for a new A330-200, delivering mid-2012;
  • Air Canada: ALC acquired a B777-300ER on lease to Air Canada through 2021.

Of the listed lessors, Willis Lease gained 0.5% yesterday, while ALAFCO rose 1.4%.

Selected leasing company share price movements (% change): 09-May-2011