ALC Announces Lease Placement of 13 New Boeing 737 Aircraft with Alaska Airlines

Today Air Lease Corporation (NYSE: AL; “ALC”) announced long-term lease placements for 13 new Boeing 737-9 new technology aircraft with Alaska Airlines.  These new aircraft are scheduled to deliver between the second half of 2021 through the end of 2022 from ALC’s order book with Boeing.

Alaska Airlines also confirmed to sell ten young Airbus A320-200 aircraft, acquired by the airline in the acquisition of Virgin America, to ALC.  Alaska Airlines and ALC agreed that the airline will lease these ten A320 aircraft back from ALC on terms that align with Alaska Airlines’ fleet modernization and rationalization over the next few years.

“We are honored and pleased to renew our long association and partnership with our friends at Alaska Airlines,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “These leased Boeing 737-9 aircraft from ALC will fill an important role on Alaska’s diverse route network, bringing the most technologically advanced and environmentally attractive aircraft type into Alaska’s fleet, just in time as we expect the airline industry will undergo a sustainable recovery starting in 2021.”

“Alaska’s relationship with Steve dates back to the early 1980s and we’re thrilled to work with him and ALC on an agreement that will enhance our fleet and advance our environmental, operational and financial performance,” said Brad Tilden, Alaska Air Group Chairman and CEO.  “We found an opportunity to sell ten planes that are not in our long-term plans and replace them with 13 of the most efficient narrow-body aircraft available.”

Source: Air Lease Corporation
Date: Nov 26, 2020