LOS ANGELES, December 12, 2019 – Today Air Lease Corporation (“ALC”) (NYSE: AL) announced the delivery of one new Airbus A321-200neo aircraft on long-term lease to Air Macau. This aircraft, featuring Pratt & Whitney PW1133G engines, is the first of two A321-200neo aircraft confirmed to deliver to the airline from ALC’s order book with Airbus and the first A321-200neo to deliver to the airline.
“We are pleased to announce this first of two A321-200neo aircraft delivery to Air Macau today and be the first to introduce the A321neo to the airline,” said Jie Chen, Executive Vice President and Managing Director, Asia – President, Air Lease Corporation Hong Kong Limited. “The ALC team has a long history of working with Air Macau and we are thrilled to continue to build our strong relationship with the airline by providing the most modern, fuel-efficient aircraft.”
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.
LOS ANGELES, October 24, 2019 – Today Air Lease Corporation (“ALC”) (NYSE: AL) announced long-term lease agreements with China Airlines (Taiwan) for six new Airbus A321neo aircraft. The aircraft will deliver to the airline beginning in 2021 through 2022 from ALC’s order book with Airbus.
“We are honored to have been chosen by China Airlines to provide their first six new A321neos in their single-aisle fleet transformation,” said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation. “The A321neo will provide significantly expanded capabilities which will benefit China Airlines and its passengers far into the future.”
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. ALC routinely posts information that may be important to investors in the “Investors” section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.
About China Airlines
Founded in 1959, China Airlines employs more than 12,000 people worldwide and operates a fleet of 111 aircraft, making it the largest airline by size and frequency of service in Taiwan. China Airlines is also one of the 19 SkyTeam Alliance member airlines. China Airlines offers passengers access to an extensive global network of more than 14,500 daily flights to 1,150 destinations in 175 countries. China Airlines is continuing to promote superior aviation safety as well as eco-friendly, innovative and attentive services that provide travelers with the perfect travel experience. Recent major international and domestic awards received by China Airlines include: 7/7 Safety Rating from AirlineRatings in Australia, the Taiwanese civil aviation industry’s top “Golden Flyer Award,” “Best of the Best” Red Dot Award, iF Design Award, Good Design Award from Japan, “Best Airline of the Year,” “Best Airline in North Asia,” “Best Business Class Seat Design” and “Best Premium Economy” from the U.S.-based Global Traveler, “Top 10 Premium Business Class” and “Top 10 Economy Class” from the DesignAir, PAX International reader survey’s winner in the “Outstanding Food Service by a Carrier – Asia” category, and the APEX Award for Publication Excellence for the inflight magazine “Dynasty.”
Today Air Lease Corporation (AL) announced a long-term lease agreement with MIAT Mongolian Airlines for one new Boeing 787-9 aircraft. This aircraft, scheduled to deliver to the airline in Spring 2021 from ALC’s order book with Boeing, will be the first 787-9 to operate in Mongolia as well as the first Dreamliner in MIAT Mongolian Airlines’ fleet.
“ALC is honored to announce this significant lease placement with MIAT Mongolian Airlines and be the first to introduce the airline to the Dreamliner,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “We are proud to support the national carrier as it expands its fleet with the most technologically advanced aircraft to connect Mongolia with the rest of the world.”
“Our vision is to become a globally recognized Mongolian national flag carrier, and we are making a significant step forward by adding the first 787-9 Dreamliner to our fleet,” said Battur Davaakhuu, President and CEO, MIAT Mongolian Airlines. “The Mongolian Dreamliner will fly our passengers direct and in unmatched comfort to their dream destinations. Today is a proud day for MIAT and for all Mongolians.”
“It will be wonderful to see the 787 Dreamliner in MIAT Mongolian Airlines’ livery flying in and out of Ulaanbaatar and connecting Mongolia with key destinations across Asia and Europe. The airline has continued to build on its proud aviation history by modernizing its fleet and operations. We are honored MIAT has selected the 787 and its superior fuel efficiency and range to profitably grow their international network,” said Ihssane Mounir, senior vice president of Commercial Sales and Marketing for The Boeing Company. “We are delighted to partner with leading lessor ALC, which has a tremendous portfolio of 787 Dreamliners and other advanced jets, to open a new chapter in MIAT’s history.”
MIAT Mongolian Airlines currently operates two Boeing 737 MAX 8 aircraft and one 737-800 aircraft on lease from ALC.
LOS ANGELES, September 20, 2019 – Today Air Lease Corporation (“ALC”) (NYSE: AL) announced the delivery of one new Airbus A321-200neo LR aircraft on long-term lease to Air Astana. Featuring Pratt & Whitney PW1133G engines, this aircraft is the first of seven A321-200neo aircraft scheduled to deliver to the airline from ALC’s order book with Airbus.
“We are delighted to announce this first of seven ALC A321-200neo LR aircraft delivery to Air Astana today,” said Alex Khatibi, Executive Vice President of Air Lease Corporation. “The A321-200neo LR is instrumental to Air Astana’s fleet modernization program to support the airline’s extended range operations and expanding route network.”
DETROIT, Sept 19 (Reuters) – Electric vehicle startup Rivian Automotive LLC got a big boost from one of its investors on Thursday when Amazon.com announced it was ordering 100,000 electric delivery vans.
Before Rivian has even begun commercial production at its factory in Normal, Illinois, the Amazon order rocketed it to the forefront of electric vehicle makers.
Amazon Chief Executive Jeff Bezos said in Washington that as part of the online retailer’s plan to be carbon neutral by 2040 it would order the electric vans from Rivian, with deliveries starting in 2021. The goal is to deploy all the vehicles by 2024.
Rivian, a potential rival to Silicon Valley’s Tesla Inc, unveiled its electric R1T pickup and R1S SUV last November, but had piqued Amazon’s interest earlier. Bezos personally reached out to Rivian CEO R.J. Scaringe last summer to express interest in an investment, sources previously said.
Plymouth, Michigan-based Rivian, founded in 2009, has raised close to $1.9 billion from investors, including a $700 million February round led by Amazon.
The deal solidifies Rivian’s place among EV builders, said Sam Fiorani, a vice president with Auto Forecast Solutions. “It helps boost the image of the (Rivian) brand,” he said.
Rivian aspires to be the first to produce a mass market electric pickup. It intends to begin selling its R1T by the end of 2020, a target that has not changed with the Amazon deal in place, said Rivian spokeswoman Amy Mast said.
Traditional U.S. automakers Ford Motor Co, a Rivian investor, and General Motors Co, as well as Tesla, are pushing to develop their own electric pickups.
The Amazon vans, under the exclusive deal, will be built at Rivian’s plant, a former Mitsubishi factory in Normal, Illinois, Mast said. The first vehicles will be delivered in 2021 and 10,000 should be on the road by late 2022, she said. The vehicles will be serviced by Rivian.
Scaringe has described the Rivian vehicle’s platform as a skateboard that packages the drive units, battery pack, suspension system, brakes and cooling system all below wheel height to allow for more storage space and greater stability due to a lower center of gravity.
Amazon is looking to speed packages to shoppers’ doorsteps regardless of spikes in consumer demand or shortages of delivery personnel. Last year, Daimler AG’s Mercedes-Benz said Amazon had become the biggest customer of its Sprinter vans, securing 20,000 vehicles for delivery contractors.
Ford invested $500 million in Rivian in April with plans to use the Rivian EV platform to build a new vehicle in North America. Details of that vehicle were not disclosed. Ford is not involved in the Rivian deal, Mast said.
Cox Automotive Inc, the owner of the Autotrader online automobile market and the Kelley Blue Book car valuation service, invested $350 million in Rivian this month. The companies will explore partnerships in digital retailing, service operations and logistics.
Other backers include Saudi auto distributor Abdul Latif Jameel Co, Sumitomo Corp of Americas and Standard Chartered Bank.
Amazon’s reputation and the contract size would raise Rivian’s status with potential customers and investors, Fiorani said. It also offers the advantage of not having to chase buyers or ship vehicles all over the country.
(Reporting by Ben Klayman in Detroit; Editing by David Gregorio)
NEW YORK, Aug. 29, 2019 (GLOBE NEWSWIRE) — Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (APO); Athene Holding Ltd. (ATH); and GE Capital, the financial services arm of GE (GE), today announced that they have entered into a definitive agreement for Apollo and Athene to purchase PK AirFinance, an aviation lending business, from GE Capital’s Aviation Services (GECAS) unit. In connection with this transaction, Apollo will acquire the PK AirFinance aircraft lending platform and Athene will acquire PK AirFinance’s existing portfolio of loans.
PK AirFinance is a leading aircraft lending business that serves airlines, aircraft traders, lessors, investors and financial institutions globally with loans to borrowers in more than 40 countries. Financial details of the transaction were not disclosed, although the $3.6 billion of PK AirFinance financing receivables that were held for sale in the second quarter of 2019 are being sold at a premium to book value in this transaction.
Alec Burger, GE Capital President & CEO, said, “Apollo’s vast lending experience, complementary platforms, and exceptional track record across diversified assets and geographies make it the ideal partner to accelerate PK AirFinance’s growth. This sale is aligned to GE Capital’s overall strategy to become smaller and simpler, and our commitment to reduce our assets by $10 billion in 2019 is now more than halfway complete. We continue to focus on shrinking GE Capital’s balance sheet, achieving a debt-to-equity ratio of less than 4x by 2020, and supporting GE Industrial growth through our remaining GECAS, Energy Financial Services, and Industrial Finance businesses.”
Jim Belardi, CEO of Athene, said, “This transaction provides us with a unique opportunity to acquire a large, diversified portfolio of high-quality loans with attractive risk-adjusted returns. In addition, this deal is another great example of the unique benefits of our strategic relationship with Apollo and its commitment to building direct origination platforms in support of the continued growth of our business.”
James Zelter, Co-President of Apollo, said, “We are very excited to be acquiring the PK AirFinance platform which, under GE’s outstanding stewardship, has become one of the world’s leading aircraft lending businesses, and is highly complementary to our existing aircraft leasing capabilities. This transaction also demonstrates our ongoing commitment to meet the investment needs of Athene and our clients, and is consistent with our objective to continue to expand Apollo’s capabilities to directly originate high quality assets.”
PK AirFinance’s team of investment professionals, who primarily focus on originations and syndications as well as underwriting and portfolio management, will transfer to Apollo upon completion of the transaction.
Per Waldelof, president of PK AirFinance, said, “We have a great team of experts with tremendous execution capabilities and a proven ability to deliver results. We are confident that this transaction will ensure the continued stability of our business. We are excited for the opportunity to continue to serve our customers and the industry as part of the team at Apollo.”
The completion of the acquisition is subject to customary conditions and is expected to close during the fourth quarter of 2019. Citi and Goldman Sachs & Co. LLC provided financial advice and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Clifford Chance LLP provided legal advice to GE Capital. Citi, RBC Capital Markets, and Mizuho provided debt financing for the transaction, and RBC Capital Markets served as financial advisor to Apollo.
Airbus has today officially begun manufacturing the A220 in the U.S. The first team of A220 production workers began work at Airbus’ Mobile, Alabama-based production facility following their recent return from on-the-job training in Mirabel, Quebec, Canada, where the A220 programme and primary final assembly line are located.
“The expansion of our commercial aircraft production in Mobile to a second product line – with 400 additional jobs to support it – further solidifies Airbus’ standing as a truly global aircraft manufacturer, and confirms without a doubt that Airbus is an important part of America’s manufacturing landscape,” said Airbus Americas Chairman & CEO C. Jeffrey Knittel. “With Mobile, and our production network in Asia, Canada and Europe, we have strategically created a worldwide industrial base to better serve our customers.”
Airbus announced plans for the addition of A220 manufacturing in Mobile in October 2017. Construction on the main A220 flowline hangar and other support buildings for the new A220 began at the Mobile Aeroplex at Brookley at the beginning of this year. Airbus is producing the first few aircraft within some current A320 Family buildings and newly-built support hangars. The first U.S.-made A220 – an A220-300 destined for Delta Air Lines – is scheduled for delivery in the third quarter of 2020. By the middle of the next decade, the facility will produce between 40 and 50 A220 aircraft per year.
The A220 is the only aircraft purpose-built for the 100-150 seat market; it delivers unbeatable fuel efficiency and wide-body passenger comfort in a single-aisle aircraft. The A220 brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation PW1500G geared turbofan engines to offer at least 20% lower fuel burn per seat compared to previous generation aircraft. The A220 offers the performance of larger single-aisle aircraft. With an order book of 551 aircraft as of end of June 2019, the A220 has all the credentials to win the lion’s share of the 100-to-150-seat aircraft market, estimated to represent 7,000 aircraft over the next 20 years.
Airbus has strong and longstanding ties to the United States, with Airbus aircraft being operated by the largest airlines in America. Additionally, Airbus is a major partner of U.S. aerospace companies and workers. The company has purchased $48 billion of components and materials from American suppliers in the last three years alone, and supports more than 275,000 American jobs. Among its facilities in the U.S. Airbus has: engineering centers in Kansas and Alabama; training facilities in Florida and Colorado; materials support and headquarters in Virginia; an innovative think tank (A3) in California; a drone data analysis business (Airbus Aerial) in Atlanta, Georgia; helicopter manufacturing and assembly facilities in Texas and Mississippi; and a satellite manufacturing facility (OneWeb) in Florida.
LOS ANGELES, July 26, 2019 – Today Air Lease Corporation (NYSE: AL) announced the delivery of one new Airbus A321-200neo LR aircraft on long-term lease to Aer Lingus (Dublin, Ireland). This Airbus aircraft, featuring CFM International LEAP-1A33 engines, is the first of eight A321-200neo LRs scheduled to deliver to the airline through 2020 from ALC’s order book with Airbus.
“ALC is pleased to announce this first of eight A321-200neo LR aircraft delivery today to our long-time customer, Aer Lingus, and introduce the A321neo to the airline,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “The new ALC A321neo LR will enable Aer Lingus to substantially increase the number of flights, frequencies and new destinations between Ireland and the USA and Canada. We are honored to be a part of Aer Lingus’ ongoing fleet transition to the A321neo LR to enhance the airline’s expanding route network with the most modern, fuel-efficient aircraft.”
“This significant delivery to our good friends at Aer Lingus strengthens our close relationship and we are confident that the A321-200neo LR will advance the airline’s fleet operations and overall growth goals,” added Grant Levy, 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
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 Aer Lingus
Aer Lingus, part of International Airlines Group, operates as a leading Irish airline primarily providing passenger and cargo transportation services from Ireland to the United Kingdom and Europe and also to the United States and Canada.
PARIS (Reuters) – Airbus has halted sales of a new book that the planemaker had commissioned for its 50th anniversary to avoid hampering the manufacturer’s attempts to win a settlement in a bribery probe, two people familiar with the matter said.
The move is the latest sign of tension in Airbus as it nears the climax of a roughly $400 million, four-year internal probe carried out in support of an Anglo-French investigation into the use of intermediaries to win jetliner and other deals.
Airbus has already fired more than 100 people over ethics and compliance issues as its probe has progressed.
The book, “Airbus: The First 50 Years”, written by former New York Times journalist Nicola Clark, charts the rise of Airbus against challenging odds to become a European rival to Boeing and has a chapter focusing on the probe.
Sources said Airbus hoped to present its findings to the UK Serious Fraud Office and France’s PNF police by the end of the year. By doing so, they said it would seek more leniency under a system of prosecution agreements that allows for heavy fines rather than charges that might bar it from public contracts.
The two people said Airbus halted the book’s sales because it was concerned its official links to the publication could hamper talks with the authorities or discussions over other litigation as it seeks a fresh start under new management.
Airbus confirmed it had decided not to go ahead with the commissioned book, but denied any link to the bribery probe. It declined comment on the progress of the investigation itself.
“We continue to co-operate in full with the ongoing investigation,” an Airbus spokesman said. “The investigation and the book are two separate topics”.
Clark told Reuters she was “deeply disappointed with the very belated decision by Airbus to withdraw (the book)”.
UK-based publisher Urbane Publications declined to comment.
The book stems from an unusual initiative launched in 2016 under which Airbus granted Clark unprecedented access and full independence to give an unvarnished account of 50 years of industrial co-operation just as Europe’s political unity wavers.
It was published on Amazon’s Kindle service on May 29, half a century after Airbus was launched at a meeting of Franco-German founders including Roger Beteille, who died last month.
The book was quickly withdrawn from online sale and plans to distribute already-printed copies at the Paris Airshow in June were scrapped at the last minute, casting confusion over the company’s 50th anniversary celebrations.
But copies have been circulating and a review was published by Leeham News, a website covering the aviation industry.
Airbus said the version seen by the public was a draft. “The draft wasn’t consistent with our ambition for celebrating 50 years of pioneering progress,” the Airbus spokesman said.
Clark said Airbus had not described the book as a draft before notifying her of the decision to withdraw it.
(Reporting by Tim Hepher; Editing by Edmund Blair)
FILE PHOTO: An Airbus A350-1000 performs during the 53rd International Paris Air Show at Le Bourget Airport near Paris
The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France.
BEIJING (Reuters) – Air China, China’s flagship carrier, will buy 20 A350-900 jets from Airbus SE worth $6.54 billion based on list prices, the carrier said on Thursday.
Air China, which has 10 of the fuel-efficient widebody aircraft in its fleet already, said the deliveries were scheduled from 2020 to 2022.
It was not immediately clear if the order would bolster the Airbus order book or if it had previously been attributed to an unidentified customer. Airbus did not respond immediately to requests for comment.
A fresh order would help Airbus narrow a deficit in widebody orders against Boeing as trade tensions persist between the United States and China.
Boeing won a positive total of 61 widebody orders in the first half this year against Airbus’ negative tally of 35 jets, meaning the European company had more cancellations than orders for twin aisle aircraft in the period.
Air China said it has the right to swap 5 out of 20 jets for the larger A350-1000.
(Reporting by Stella Qiu and Se Young Lee and Tim Hepher in Paris; Editing by Himani Sarkar)
