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Air Lease Announces Placement of New Boeing 787-9 Aircraft with MIAT Mongolian Airlines

October 3, 2019 / WIL BALDWIN

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.

Air Lease Announces Delivery of New Airbus A321neo LR Aircraft to Air Astana

September 21, 2019 / WIL BALDWIN

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.”

Boeing, Aeroflot Announce Contract on 777 Passenger Cabin Modifications

September 3, 2019 / WIL BALDWIN

MOSCOW, August 30, 2019 — Boeing (NYSE: BA) and Aeroflot, today during the Moscow Air Show, announced a contract to modify passenger cabins on 18 of the Russian flagship carrier’s 777-300ER’s.

“Aeroflot is widely recognized as a premium service airline. Designing a new Boeing 777 interior, we aim to enhance our premium quality at every class of service – business, comfort and economy. An updated interior will take Aeroflot to new heights,” said Andrey Chikhanchin, chief financial officer of Aeroflot.

Boeing will perform engineering work and supply component kits for the planned cabin interior reconfiguration.

“It’s a great honor that a leading Russian carrier selected Boeing solutions,” said Stan Deal, president and chief executive officer of Boeing Global Services. “Aeroflot is an experienced 777 operator and we are pleased to provide them with the expertise that will support their implementation, long-term strategic growth and development plans.”

Aeroflot is Russia’s flagship carrier and a proud member of the SkyTeam global airline alliance. Aeroflot serves 159 destinations in 54 countries. Aeroflot’s 249-strong fleet is the youngest of any airline worldwide that operates more than 100 aircraft. In 2018, Aeroflot carried 35.8 million passengers (55.7 million passengers as Aeroflot Group including subsidiaries).

Boeing is the world’s largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As the top U.S. exporter, the company supports commercial and government customers in more than 150 countries. Boeing employs more than 150,000 people worldwide and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.

Air Lease Announces First of Eight New Airbus A321-200neo LR to Aer Lingus

July 29, 2019 / WIL BALDWIN

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.

Avianca Advances Plan to Manage Outstanding Liabilities

July 22, 2019 / WIL BALDWIN

BOGOTA, Colombia, July 22, 2019 /PRNewswire/ — Avianca Holdings S.A. (NYSE: AVH) today announced that, in connection with its previously announced re-profiling plan for its capital structure, the company has temporarily deferred payments on certain long-term leases and on payment of principal on certain loan obligations. Avianca Holdings has engaged in discussions with its main strategic lenders and other creditors to establish terms that will preserve current liquidity levels and enable Avianca Holdings to advance its re-profiling plan, which is aimed at strengthening the company’s financial position. Over the last two weeks, members of Avianca Holdings’ senior management team have met with more than 50 of Avianca Holdings’ strategic lenders and other creditors with the objective of reaching an agreement on the terms and conditions of the proposed deferrals. Importantly, obligations related to Avianca Holdings’ day-to-day operations remain current, and such operations, including flight schedules and other ordinary course operations, will remain unaffected.

Avianca Holdings affirms that it is current on all existing interest obligations and that Avianca Holdings actively seeks to arrive at a mutually satisfactory agreement with its strategic lenders and other creditors for a short-term deferral of principal amortization payments, as well as extensions of its credit facilities. Avianca Holdings intends to resume scheduled principal payments once these agreements have been successfully reached, as Avianca Holdings’ proposal is for all creditors to be paid in full, including principal and interest.

In connection with its re-profiling program, Avianca Holdings today made a separate announcement regarding an exchange offer for its outstanding 8.375% Senior Notes due 2020. Avianca Holdings is current on its interest obligations with respect to its outstanding senior notes and is not otherwise in default on its outstanding 2020 Senior Notes.

Avianca Holdings has the full support in this decision of its Board of Directors. Since May 24, 2019, Kingsland Holdings, through its ownership of ordinary shares of Avianca Holdings and authority to vote the ordinary shares of Avianca Holdings owned by BRW Aviation LLC, has effective control of Avianca Holdings. As previously announced, United Airlines and Kingsland Holdings have indicated that they would be willing to offer new financing to Avianca, if required and requested, of up to $250 million, provided that certain commitments are assumed by other interested parties.

With the announced temporary suspension of principal payments, as well as the previously announced proposed financing by United Airlines and Kingsland Holdings, and the continued implementation of Avianca Holdings’ 2021 transformation plan, Avianca Holdings expects to strengthen its cash balances in the near future, at which time, Avianca Holdings will resume normal payment of its obligations. Furthermore, Avianca Holdings has stated that the outstanding 2019 Colombian Peso-denominated corporate bond issued by Aerovías del Continente Americano – Avianca S.A. is not part of the deferral program and that such bond will be paid in accordance with its terms.

About Avianca Holdings
Avianca is the commercial brand that identifies the passenger, cargo transportation airlines and on ground services integrated in the Company with a team of more than 21,000 employees. The terms “Avianca Holdings” or “the Company” refer to the consolidated entity. The original source-language text of this announcement is the official, authoritative version, Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.

FreightCar America Closing its Roanoke Manufacturing Facility

July 22, 2019 / WIL BALDWIN

Closure represents next step in the Company’s long-term cost and footprint reduction strategies
When complete in early 2020, the Company is expected to save $5 million per year in fixed costs

CHICAGO, July 22, 2019 (GLOBE NEWSWIRE) — FreightCar America, Inc. (RAIL) announced today that it has started the process to permanently close its Roanoke, Virginia manufacturing facility. The Company will retain the necessary workforce to build cars at the facility through November.

“The closure of our Roanoke facility is another next step in our ‘Back to Basics’ strategy as we continue to streamline our manufacturing footprint and match it to our future product offering,” said Jim Meyer, President and Chief Executive Officer of FreightCar America. “Reducing our fixed costs and achieving world-class output from our much larger Shoals facility have always been core pillars of our turnaround strategy.”

Meyer added, “We have spent the last two years building our talent, processes and overall capabilities at Shoals and the plant is now in a position to accept the Roanoke models and volume. This action, when complete in the first half of 2020, is expected to save approximately $5 million per year.”

Meyer concluded, “Our people at Roanoke have consistently performed above all expectations. We are extremely thankful for everything they have given the Company.”

The Company will offer select employees the opportunity to relocate to other parts of the business.

About FreightCar America

FreightCar America, Inc. manufactures a wide range of railroad freight cars, supplies railcar parts and leases freight cars through its FreightCar America Leasing Company subsidiaries. FreightCar America designs and builds high-quality railcars, including bulk commodity cars, covered hopper cars, intermodal and non-intermodal flat cars, mill gondola cars, coil steel cars, boxcars and coal cars. It is headquartered in Chicago, Illinois and has facilities in the following locations: Cherokee, Alabama; Grand Island, Nebraska; Johnstown, Pennsylvania; Roanoke, Virginia; and Shanghai, People’s Republic of China. More information about FreightCar America is available on its website at www.freightcaramerica.com

Air Lease Delivers New Airbus A320-200neo to Atlantic Airways

July 15, 2019 / WIL BALDWIN

LOS ANGELES, July 15, 2019 – Today Air Lease Corporation (NYSE: AL; “ALC”) announced the delivery of one new Airbus A320-200neo aircraft on long-term lease to Atlantic Airways, the national airline of the Faroe Islands. Powered by CFM International LEAP-1A26 engines, this aircraft is the first of two A320-200neos confirmed to deliver to the airline from ALC’s order book with Airbus. The second A320-200neo is scheduled to deliver to Atlantic Airways in Spring 2020.

“ALC is pleased to announce the delivery to Atlantic Airways of its first A320-200 neo and is excited to be part of the fleet transformation at the airline,” said Grant Levy, Executive Vice President of Air Lease Corporation. “The A320-200neo will significantly enhance Atlantic Airways’ fleet operations by not only supporting the airline’s existing route structure but also allow the airline to grow its route network in Europe and North America.”

Atlantic Airways’ Chief Executive Officer, Jóhanna á Bergi said, “We are very pleased to receive our first Airbus A320-200neo. This will enhance passenger experience and Atlantic Airways’ operations as national carrier, air bridge and life line.

Forward-Looking Statements

Air Lease Announces Delivery of A350-900 to Sichuan Airlines

May 21, 2019 / WIL BALDWIN

Today Air Lease Corporation (NYSE: AL; “ALC”) announced the delivery of one new Airbus A350-900 aircraft on long-term lease to Sichuan Airlines. Featuring Trent XWB-84 engines, this A350-900 is the first ALC A350-900 to deliver to an airline in China. The aircraft is from ALC’s order book with Airbus and joins eight Airbus aircraft currently on lease from ALC to Sichuan Airlines for a total of nine aircraft.

“Sichuan Airlines is a loyal long-term customer of ALC and we are pleased to be leasing our new A350-900 to the airline,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “This significant delivery further strengthens our close relationship and we are confident this new widebody aircraft will complement the airline’s current fleet operations, adding technological and innovative advancements that will bring a whole new experience to Sichuan’s offerings.”

“We are very pleased to announce this new A350-900 delivery to our distinguished customer, Sichuan Airlines,” said Jie Chen, Air Lease Corporation’s Executive Vice President and Managing Director, Asia. “ALC is proud to introduce the airline to the A350-900 and pioneer modernizing the airline’s long-haul fleet to maximize Sichuan Airlines’ fleet operations and global growth.”

Forward-Looking Statements

Elbit Systems to Acquire Harris Night Vision Business

April 8, 2019 / WIL BALDWIN

HAIFA, Israel, April 5, 2019 /PRNewswire/ — Elbit Systems Ltd. (ESLT) (ESLT) (“Elbit Systems”) announced today that its U.S. subsidiary, Elbit Systems of America, LLC (“Elbit Systems of America”), has signed a definitive agreement with Harris Corporation (HRS) (“Harris”) for the acquisition of Harris’ Night Vision business (“Harris Night Vision”) for a purchase price of $350 million.

The transaction is conditioned on completion of Harris’ proposed merger with L3 Technologies, Inc. (LLL), as well as customary closing conditions, including receipt of regulatory approvals.

Headquartered in Roanoke, Virginia, Harris Night Vision is a premier developer, producer and supplier of night vision technology for the U.S. and allied military and security forces and for the federal homeland security market.

Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “The market position and technological strength of Harris Night Vision make this acquisition significant to our long-term growth strategy, with a particular focus on the U.S. Elbit Systems of America has a proven track record of providing high performance solutions and support services to the U.S. defense and homeland security markets. We believe that the completion of this acquisition will be beneficial both for Elbit Systems and for Harris Night Vision’s employees and customers.”

About Harris Corporation

Harris Corporation is a leading technology innovator, solving customers’ toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports government and commercial customers in more than 100 countries and has approximately $6 billion in annual revenue. The company is organized into three business segments: Communication Systems, Electronic Systems and Space and Intelligence Systems. Learn more at harris.com.

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land, and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

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