Air Lease Corporation (NYSE: AL) announced long term lease agreements with Frontier Airlines, an ultra-low-cost carrier based in the United States, for two new Airbus A320-200s. These aircraft are from ALC’s order book with Airbus and will deliver in the second and third quarters of 2016.
“We are pleased to announce these strategic lease placements with Frontier Airlines, a new customer for ALC. We look forward to a successful long-term relationship with Frontier as it continues to execute plans to modernize and increase the efficiency of its jet fleet,” said Steven F. Udvar-Házy, Air Lease Corporation’s Chairman and Chief Executive Officer.
“This announcement helps pave the way for us to modernize and renew our fleet while helping us build a strong foundation for the future,” said Jimmy Dempsey, chief financial officer, Frontier Airlines. “We remain focused on our Low Fares Done Right business model for long-term success, and we look forward to working with Air Lease Corp. to achieve it.”
Source: Air Lease Corporation
Date: Jul 21, 2015