ALC Announces Delivery of 1st of 6 New Airbus A321-200neo LR Aircraft with Air Arabia

Today Air Lease Corporation (NYSE: AL; “ALC”) announced the delivery of one new Airbus A321-200neo LR aircraft on long-term lease to Air Arabia.  Featuring CFM International LEAP-1A engines, this aircraft is the first of six A321-200neo LRs scheduled to deliver to Air Arabia through 2020 from ALC’s order book with Airbus.  This A321-200neo LR is also ALC’s first Airbus long-range A321neo to deliver to the Lessor.

“We are pleased to announce the delivery of this first of six new A321-200neo LR aircraft with Air Arabia and be the first to introduce the A321LR to the region today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “This delivery is particularly significant as this is ALC’s first A321-200neo LR aircraft.  A key addition to Air Arabia’s fleet, the A321-200neo LR offers dynamic long-range optimization and increased capacity as the airline expands into new destinations.”

“This new A321-200neo LR aircraft delivery strengthens our long-standing relationship with Air Arabia as the airline continues to excel as one of the premier airlines in the Middle East with the most technologically advanced, fuel-efficient aircraft,” added Alex Khatibi, Executive Vice President of Air Lease Corporation.

Adel Al Ali, Group Chief Executive Officer of Air Arabia, said: “The addition of the A321neo LR aircraft to Air Arabia’s growing fleet allows us to expand our service to farther and newer destinations while remaining loyal to our low-cost business model.  We look forward to receiving the remaining aircraft in 2019 as we continue to offer our customers an excellent product with more destinations to discover.”

Source: Air Lease Corporation
Date: Apr 15, 2019