On July 20 at the Farnborough International Airshow, new leasing company Air Lease Corp. (ALC) has unveiled its second and third new-aircraft orders, a day after announcing its first.
ALC will purchase up to 60 Next-Generation Boeing 737-800s, in a deal that includes firm orders for 54 aircraft and six options. Deliveries of ALC’s aircraft will take place through 2017.
At the 47th Farnborough International Airshow on July 20, ALC also signed a letter of intent with Embraer for 15 Embraer 190s. Five of the 15 orders are re-confirmable, and the deal also includes five options to give the manufacturer a potential sale of 20 Embraer 190s.
In what was a notable second trade day of the Farnborough International Airshow for Embraer, ALC’s order for up to 20 Embraer 190s followed hot on the heels of the manufacturer’s announcement of British airline Flybe’s potentially massive commitment for up to 140 Embraer 175s.
Founded in 2010 by former ILFC chairman and CEO Steven Udvar-Házy (who is now chairman and CEO of ALC), the new lessor’s Boeing 737NG and Embraer 190 deals come a day after it announced a firm order for 31 Airbus A320s and 20 A321s, choosing the Farnborough International Airshow as the venue at which to unveil its first direct order from an aircraft manufacturer.
At the Farnborough International Airshow 2010, ALC has announced orders and other commitments for a total 126 single-aisle commercial jets.
Speaking about ALC’s 737NG buy, Udvar-Házy says: “We have selected the Boeing Next-Generation 737-800 as a cornerstone of our growing commercial aircraft lease fleet. The 737-800 represents an opportunity for our wide range of airline clients to operate this most economical, fuel efficient and versatile 150-189 passenger airplane, on a wide variety of airline missions profitably. This order with Boeing will continue this management team’s tradition of working closely with Boeing since 1977.”
“It is impressive that only five months after launching Air Lease Corporation in February, they are placing an order for 60 Next-Generation 737s,” notes Jim Albaugh, president and CEO, Boeing Commercial Airplanes. “The Air Lease Corporation team has a proven track record in global aircraft leasing – with great leaders in Steve Házy and John Plueger. They are well positioned for success.”
Speaking about ALC’s Embraer 190 order, John Plueger, president and chief operating officer of Air Lease Corp. (who had the same roles at ILFC) says: “We have been following the growing market demand for the Embraer 190 for many years. We are now absolutely convinced that it is the right aircraft for not only the regional jet marketplace, but that it’s powerful and compelling economics, passenger appeal, and reliability positions it to occupy a significant segment of mainline operations. We are delighted to bring this product to our operating lease portfolio for the benefit of our customers worldwide.”
“We’re proud to partner with Steven Udvar-Házy, the founder of Air Lease Corp., in his new, thrilling aviation endeavor,” states Paulo César de Souza e Silva, Embraer’s executive vice president, airline market. “His remarkable professional experience and respectability in the aviation business, together with the outstanding attributes of our E-Jets family, will be major supporters of the success of the new company.”
The Embraer 190 is the third of the four members of the Embraer E-Jet family and entered service in August 2005. The jet may be configured in one or two classes, seating 98 to 114 passengers in a four-abreast (two-and-two), no-middle-seat configuration, and can fly up to 2,400 nautical miles (4,448 kilometers) nonstop.
Air Lease Corp. was established in 2010 in Los Angeles, California. The company’s staff is comprised of pioneers of the aviation leasing industry who have been in the business for nearly 40 years. Its mission is to support commercial fleet aircraft leasing, purchasing and financing needs. For more information, visit www.AirLeaseCorp.com or contact info@AirLeaseCorp.com.