air lease corp- 144a (ALLLZ) Key Developments
AerCap Holdings N.V., International Lease Finance Corporation, and American International Group, Inc. Entered into Settlement Agreement and Release with Air Lease Corporation and Leonard Green Partners, L.P
Apr 23 15
On April 23, 2015, AerCap Holdings N.V., International Lease Finance Corporation, and American International Group Inc. (AIG) entered into a settlement agreement and release with Air Lease Corporation (ALC), certain of ALC's executive officers and employees and Leonard Green Partners, L.P. and certain of its affiliates to settle the litigation among the parties. Pursuant to the terms of the Settlement Agreement, all claims and counterclaims asserted in the litigation will be dismissed with prejudice, each of the parties to the litigation will receive full releases of all claims and counterclaims asserted in the litigation, and ALC will pay AIG the sum of $36 million no later than June 30, 2015, and an additional sum of $36 million no later than September 30, 2015. The parties to the Settlement Agreement agreed that settlement was intended solely as a compromise of disputed claims, and that no party admits any wrongdoing or liability with respect to any matter alleged in the litigation.
Air Lease Corporation Announces the Lease Placement of New Boeing 787-9 with Aeromexico
Apr 16 15
Air Lease Corporation announced a long term lease agreement with Aeromexico for one new Boeing 787-9 aircraft. This aircraft is from ALC’s order book with Boeing and is scheduled for delivery in fall 2016.
Air Lease Corporation Places Order for 55 Airbus Aircraft
Mar 24 15
Air Lease Corporation placed an order for 55 Airbus aircraft, comprising 25 A330-900neo and 30 A321LR aircraft. ALC's total firm orders for Airbus aircraft stands at 258, comprising 53 A320ceo Family, 140 A320neo Family, 15 A330 Family, 25 A350 XWB Family and 25 A330neo Family. The A321LR, the latest member of the market leading A320neo Family, will be able to fly longer routes of up to 4,000 nm. The A321LR will provide additional flexibility as it will have the longest range of any single aisle airliner, making it ideally suited to transatlantic routes and enable airlines to tap into new long haul markets which were not previously accessible with current single aisle aircraft. With 206 passengers in a comfortable two-class layout, the A321LR offers the possibility for each passenger to carry up to three bags. First deliveries will start in 2019. The A330-800neo and the A330-900neo are two new members of the Airbus Widebody Family launched in July 2014 with first deliveries in Fourth Quarter 2017. The A330neo incorporates latest generation Rolls-Royce Trent 7000 engines, aerodynamic enhancements and new cabin features. Benefitting from the excellent economics, versatility and high reliability of the A330, the A330neo reduces fuel consumption by 14% per seat, making it the most cost efficient, medium range Widebody aircraft on the market. In addition, A330neo operators will also benefit from a range increase of up to 400 nautical miles and all the operational commonality advantages of the Airbus Family.
Air Lease Signs Long-Term Lease Agreement with Air Austral for Boeing 777-300ERs
Mar 19 15
Air Lease announced that it has signed a long-term lease agreement with Air Austral for the new Boeing (BA) 777-300ERs. The planes are scheduled to be delivered in fall of 2016.
Air Lease Corporation to Buy 25 Wide-Body A330-900neo Aircraft and 30 A321 LR Planes
Mar 9 15
Air Lease Corporation (ALC) will buy 25 wide-body A330-900neo aircraft and 30 A321 LR planes, longer-range versions of its popular A320 aircraft that will able to make transatlantic flights. ALC will be the launch customer for the A330-900neo, the eagerly-awaited upgrade to Airbus's long-haul A330 passenger jet which boasts more fuel-efficient engines and is seen as a direct competitor to Boeing's 787 Dreamliner. ALC had first agreed to buy the A330-900neo planes at the Farnborough Air Show last year, and had made a preliminary order of the A321 LR planes in January.