Air Lease Corporation (NYSE: AL; “ALC”) announced today long-term lease agreements for nine Airbus A320-200neo and six Airbus A321-200neo aircraft with Vistara, an Indian full-service airline that is a joint venture of TATA Sons Limited and Singapore Airlines Limited (SIA). The nine A320-200neo aircraft will feature CFM56 LEAP-1A26 engines and will be delivered to Vistara starting in the first quarter of 2021 through 2022. Featuring CFM56 LEAP-1A32 engines, the six A321-200neo aircraft will be delivered to the airline starting the first quarter of 2020 through 2021. All 15 aircraft will be delivered from ALC’s order book with Airbus.
“ALC is pleased to announce this significant lease placement of 15 aircraft with Vistara,” said Kishore Korde, Executive Vice President of Air Lease Corporation. “The A320-200neo and A321-200neo offer the most modern, fuel-efficient new technology that will greatly enhance Vistara’s fleet operations and passenger experience. ALC looks forward to a long and successful relationship with Vistara as we work together to modernize and grow the airline.”
With these 15 A320neo family aircraft and the A320-200’s already leased by ALC to Vistara, ALC is expected to become the lessor with the largest share in Vistara’s fleet as measured by number of aircraft as well as by aircraft value.
Source: Air Lease Corporation
Date: Nov 26, 2018