Order Valued At More Than $1.2 Billion At List Prices

Air Lease Corporation (ALC) has finalized a deal with Boeing for four 787-9 Dreamliners, and at the same time exercised options for four Next-Generation 737-800s. The order, with a list-price value of more than $1.2 billion, marks the completion of an agreement announced during the Paris Air Show in June.

"This order is a continuation of Air Lease Corporation's disciplined approach to building its fleet," said Ray Conner, senior vice president for Sales and Customer Support for Boeing Commercial Airplanes. "Air Lease Corporation has positioned itself for success since starting business early last year. These 787-9 Dreamliners and 737-800s support its strategy of establishing a fleet of young, high-quality, high-demand airplanes for its airline customers."

The airplanes join the 74 Next-Generation 737-800s and five 777-300ER (Extended Range) airplanes that ALC currently has on order. "This order will continue to diversify our portfolio of efficient airplanes for our airline customers," said Steven F. Udvar-Hazy, chairman and CEO of Air Lease Corporation. "The 787-9, with its increased size and range, will provide our customers the ability to serve more cities with the lowest possible cost per seat."

The Boeing 787-9 Dreamliner is a slightly larger version of the 787-8 and will carry 250-290 passengers on routes of 8,000 to 8,500 nautical miles. The 787 is designed to use 20 percent less fuel than today's similarly sized airplanes. It also will travel at a speed of March 0.85, which is similar to the speed of today's fastest wide-body airplanes.

"Air Lease Corporation's order helps establish the 787-9 Dreamliner in the leasing market," said Bill Collins, vice president of Leasing Sales for Boeing Commercial Airplanes. "It also builds on the continued market success of this airplane."

The order increases the number of 787-9s on order to 270 airplanes from customers located all over the world. The 787 Dreamliner family, including the 787-8 and 787-9, has accumulated a total of 825 orders.

FMI: www.airleasecorp.com, www.boeing.com