3-May-2011 7:56 AM

Air Lease Corporation continues expansion of lease placements in Asia

Air Lease Corporation (ALC) stated (02-May-2011) it has signed lease agreements for 29 aircraft with Asia-region airlines. The aircraft were signed with customers including China Eastern, China Southern, Air China, Asiana, Garuda, MIAT Mongolian and Orient Thai Airlines. Details include:

  • China Southern Airlines: Entered into long-term lease agreements for two new A320-200s, for delivery in Nov-2011 and Dec-2011;
  • Air China: Entered into 12-year lease agreements for two new A330-200 aircraft for deliveries in Jul-2011 and Oct-2011;
  • China Eastern Airlines: In the largest single-lease placement to date in ALC's history, China Eastern Airlines and ALC have entered into long term lease agreements for 10 new A320-200s and five new B737-800s, for deliveries in 2012 and 2013. ALC will also acquire from China Eastern three B767-300ER aircraft, 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: Entered into 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: Entered into agreements for three new B737-800s, for delivery in Nov-2013, Dec-2013 and Sep-2014. All three aircraft have 12-year lease terms;
  • MIAT Mongolian: Entered into 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. [more]