LOS ANGELES, Sept. 20, 2016 (GLOBE NEWSWIRE) -- Today Air Lease Corporation (NYSE: AL ) announced that Azores Airlines SATA International (Portugal) has committed to lease six new Airbus A321neo aircraft including four A321LR versions. The CFM Leap 1A engine-powered aircraft from ALC’s order book with Airbus will deliver between the fourth quarter of 2017 and early 2021.
By way of an extensive transatlantic network, these aircraft will connect Portugal and Azores to cities in the United States and Canada, including Boston, Oakland, Providence, Toronto and Montreal, in addition to major Western European cities.
“The new ALC A321neo aircraft will replace Azores Airlines' A310 fleet and add additional frequencies and schedules to the airline's network on both sides of the Atlantic Ocean and the Azores,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.
Paolo Menezes, CEO of Azores Airlines said, “We are very pleased with this historic aircraft renewal project and the commitment to lease six new A321neos with ALC, who has a long-term business relationship with SATA. These aircraft are ideal new jets for our airline and ALC provided outstanding creativity, economics and strategic advantages in this important transaction."
"The A321neo and the A321LR (long range) new technology Airbus family aircraft bring a new dimension to medium transatlantic routes, offering 6000 kilometers flight range with about 200 passengers plus cargo, and is considered ideal and most economical for Azores Airlines SATA International’s extensive route network. The A321neo lowers per seat fuel consumption by more than 35%, is quieter, and delivers environmental advantages including a 60% reduction in carbon emissions versus the A310s they will replace. With these A321neo aircraft, the airline of the Azores will now have the most modern and well suited aircraft to operate and grow with a bright and promising future," said Marc Baer, Executive Vice President of Air Lease Corporation.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.
About Air Lease Corporation (NYSE: AL )
ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. For more information, visit ALC's website at www.airleasecorp.com .
About Azores Airlines SATA International
Azores Airlines SATA International was established in 1998, and since then has expanded its network of routes with a fleet of Airbus A310s, A320s and A330-200. The airline operates domestic flights to Lisbon, Porto, Funchal, Ponta Delgada, Terceira, Horta, Pico and Santa Maria, in addition to scheduled services between the Azores and the United States and Canada, and between mainland Portugal and North America. Azores Airlines SATA International also offers scheduled flights to destinations such as London, Frankfurt and Munich, and several charter flights worldwide.
Investors: Ryan McKenna Vice President Email: rmckenna@airleasecorp.com Media: Laura St. John Manager, Media and Investor Relations Email: lstjohn@airleasecorp.com
