ALC To Place The Airliners With The Chinese Carrier

Air Lease Corporation has entered into lease agreements with China Southern for 18 new jet aircraft from ALC’s orderbook delivering in 2013, 2014, and 2015. The aircraft include twelve (12) new Boeing 737-800s, four (4) new Airbus A320-200s, and two (2) new Airbus A321-200s, all of which are signed on 12-year lease terms.

“This 18 aircraft transaction with China Southern is ALC’s largest single lease placement to date. We are pleased to grow our relationship with one of the premier airlines in China and a long term strategic customer for ALC,” said Jie Chen, Air Lease Corporation’s Executive Vice President and Managing Director, Asia, announcing the deal Tuesday.

ALC also delivered two new A320-200s to China Southern on 12-year term leases during the second half of 2011.

“ALC’s ability to structure and complete large, multiple aircraft, complex operating lease transactions such as this $800 million deal with China Southern for 18 new Airbus and Boeing aircraft on a multiyear delivery stream, underscores ALC’s global leadership, innovation and strong market presence,” said Steven F. Udvar-Házy, Chairman and CEO of Air Lease Corporation.

ALC is an aircraft leasing company based in Los Angeles, California that is principally engaged in purchasing commercial aircraft and leasing them to its airline partners worldwide through customized aircraft leasing and financing solutions.

FMI: www.airleasecorp.com