16-Jul-2010 9:28 AM

Udvar-Hazy to head new Air Lease Corporation with 3.3bn in financing secured

Air Lease Corporation (ALC), a new aircraft leasing company being launched by Steven Udvar-Hazy and John Plueger, announced (15-Jul-2010) it has secured initial financing of USD3.3 billion, and aircraft acquisitions are already underway. Mr Udvar-Hazy will act as Chairman and CEO of ALC and Mr Plueger will be President and COO. ALC has raised approximately USD1.3 billion of equity capital and approximately USD2 billion of committed debt financing. The company is in the process of acquiring a portfolio of aircraft and has lease commitments from a large group of diversified airlines. By spring 2011, the fleet is expected to exceed more than 100 commercial jet aircraft. [more]

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