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FARNBOROUGH 2010: Air Lease Corp kicks off with A320 family order

Recently founded Air Lease Corporation (ALC) has announced a significant order for aircraft targeted at the low-fare market at Farnborough 2010, with a deal for 51 Airbus A320 family aircraft carrying an estimated list price of more than $9 billion.

Stephen Udvar-Hazy, ALC chairman and former chief executive of International Lease Finance Corporation, announced, “We are absolutely committed to our relationship with Airbus. These aircraft will be a major part of our leasing platform for many years to come.”

Delivery of 31 A320s will commence in January 2011. A further 20 A321-200s will be delivered between 2011 and 2015. The early delivery schedule of the A320s is made possible by a slot swap agreed by Udvar-Hazy with Air New Zealand.

Udvar-Hazy described the single aisle products as ‘the bread and butter’ of airlines worldwide, and favoured in particular by low-fare carriers. “These are the aircraft that our customers are asking for,” he added. ALC recently announced $3.3 billion in backing and plans to continue to announce more aircraft orders at Farnborough over the coming days.

Rupa Haria, contributor, Low-Fare & Regional Airlines/LARAnews.net
Farnborough, UK

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