Tag: Hazy

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.

Air Lease Places 4 New Airbus A320 Family Aircraft with Peach

June 18, 2019 / WIL BALDWIN

PARIS, France, June 18, 2019 – Air Lease Corporation (NYSE: AL; “ALC”) announced today long-term lease placements for two new Airbus A320neo and two new Airbus A321neo LR aircraft with Peach Aviation Limited (Japan). The four new Airbus aircraft are scheduled to deliver to Peach starting in 2020 through 2022 from ALC’s order book with Airbus.

“ALC is thrilled to confirm this significant lease placement with Peach for four new Airbus aircraft and contribute to the airline’s growing all-Airbus A320 fleet,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “The A320neo and A321neo LR offer Peach the most technologically advanced, fuel-efficient aircraft that will bring a new level of passenger comfort and convenience to the Japanese market.”

Forward-Looking Statements

About Air Lease Corporation (NYSE: AL)

About Peach

Peach Aviation began services based out of Kansai Airport in March 2012. Currently, in addition to Kansai Airport, Peach has hubs at New Chitose Airport, Sendai Airport, and Naha Airport with 25 aircraft that service 17 domestic routes and 16 international routes. It operates approximately 100 flights per day and is used by over 13,000 passengers daily. Peach will complete its integration with Narita-based airline Vanilla Air by the end of the 2019 fiscal year, aiming to become Asia’s leading LCC.

Air Lease Places 3 New Airbus A321-200neo’s with Sky Airline

June 18, 2019 / WIL BALDWIN

PARIS, France, June 18, 2019 – Today Air Lease Corporation (NYSE: AL; “ALC”) announced long-term lease placements with Sky Airline (Chile) for three new Airbus A321-200neo aircraft. Scheduled to deliver to Sky starting in 2020 through 2021, the three new A321-200neos will deliver from ALC’s order book with Airbus and join three A320-200neos currently on lease to the airline from the Lessor.

“Sky Airline is a key ALC customer in the Latin American market and we are pleased to be the first to place the A321-200neo in the airline’s growing narrowbody fleet,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “The A321-200neo will complement Sky’s current highly competitive fleet with a new standard of fuel-efficiency and passenger comfort.”

Forward-Looking Statements

About Air Lease Corporation (NYSE: AL)

About Sky Airline

Sky Airline is a leading low-cost airline based in Santiago, Chile. The company flies to more than 20 destinations in Chile and South America and operates a modern fleet of Airbus A320 and A320neo family aircraft. In 2018, Sky Airline was named the best low-cost airline in South America by Skytrax.

Airbus Faces Cabin Comfort Dilemma in A321XLR Jet Launch

June 17, 2019 / WIL BALDWIN

PARIS (Reuters) – Airbus has broken records by launching the longest-range narrow-body jetliner at the Paris Airshow, but planemakers are having to rethink their mantra on comfort as they squeeze ever more miles out of jets designed for shorter trips.

Airbus and Boeing have been promoting new carbon-fibre long-haul aircraft such as the 787 Dreamliner and A350, which offer roomier cabins and help passengers avoid jet lag by providing a cabin pressure closer to that felt on the ground.

But they have also been adding more range and capacity to older and narrower models such as the A320neo family and the 737 MAX as airlines demand more flexibility with the advantages of highly efficient single-aisle planes, supporting low fares.

Airbus pushed that further on Monday by adding a longer stride to the A321neo with its new A321XLR, whose range of 4,700 nautical miles leapfrogs the out-of-production Boeing 757 and nudges it into the long-jump category enjoyed by wide-body jets.

It also eats into a range category targeted by a possible new mid-market twin-aisle jet, the NMA, under review by Boeing.

But there is a debate over whether passengers will enjoy flying longer distances in medium-haul planes, or at what price.

Airline bosses on the long-haul low-cost panel at the Paris Air Forum on Friday differed over whether extended-range narrow-body jets or wider twin-aisles were best suited for their growing industry.

In particular, the rise of the single-aisle long-distance jet involves revisiting years of industry marketing about the benefit of escaping jet lag and fatigue on long trips.

Aircraft cabins are pumped to a higher pressure than the ultra-thin outside air at cruising altitude. But the pressure is still lower than at sea level due to structural limitations.

That’s not a problem for shorter trips but travel experts say the higher altitude setting on older planes can contribute to jet lag on long flights, worsening the effect of time zones.

WELL BEING

Although Airbus stresses the 1980s-designed A320 fuselage is wider than the competing 737 MAX and therefore has roomier seats, it also has a lower cabin pressure than modern long-haul alternatives like the Boeing 787 Dreamliner or Airbus A350.

On those airplanes the cabin is pressurised at a level equivalent to 6,000 feet compared with 8,000 feet for the A320 and most other metal-built jets of all sizes.

For the Airbus A330neo wide-body jet the cabin altitude is above 7,000 feet but still below 8,000 feet.

“XLR cabin pressure could be an issue,” said an airline executive who has studied the plane, asking not to be named.

The company itself set out the disadvantages of flying with a high cabin altitude on long journeys when it launched the business-jet version of the A320neo family in 2015.

“A lower cabin altitude makes most sense on long flights, especially towards their end, when an aircraft is able to reach its highest cruising altitude,” Airbus said then on its website.

For the business jet version, Airbus was able to lower the cabin altitude below 6,400 feet. But it could only do so by reducing the maximum number of trips, which matters relatively little to luxury operators but is less attractive to airlines.

That said, cabin pressure is one of many factors influencing the feel of a cabin and is rarely marketed separately.

“Everyone is pushing the ‘well being’ trend … but an A321XLR will arguably be more comfortable than a 9-abreast Boeing 787,” passenger experience expert John Walton said, referring to denser seat configurations used by some airlines.

Placing the first order for the XLR, leasing magnate Steven Udvar-Hazy, executive chairman of Air Lease Corp, said: “We are working on a number of improvements in the cabin to accommodate long-haul operations”.

The A321XLR is expected to be able to fly around eight hours in most cases, linking U.S. eastern cities deep into Europe.

The head of International Airlines Group’s low-cost long-haul carrier Level, Vincent Hodder, told the Paris Air Forum the XLR could be configured to fly as long as 10 hours. Level and others are studying it, he said.

Airbus is chasing potential customers including American Airlines and JetBlue for the XLR and aims to grab up to 200 orders. It is expected to announce a deal with U.S. airline investor Indigo Partners later this week.

(Reporting by Tim Hepher, Editing by Louise Heavens and Mark Potter)

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

Air Lease Says Boeing Going ‘Full Speed Ahead’ on Midsized Jet

March 7, 2019 / WIL BALDWIN

(Reuters) – Boeing Co is indicating “full speed ahead” for a new midsized airplane in what would be the first all-new jet program for the world’s biggest planemaker in more than a decade, Air Lease Corp’s chief executive, John Plueger, said on Wednesday.

Boeing reiterated on Wednesday that it will make a decision in 2020 on whether to launch the plane, which aims to address the middle of the jet market between traditional narrowbody jets with one aisle and long-distance widebody planes. It can start seeking offers in 2019, subject to launch.

“Boeing is signalling full speed ahead but there’s still a lot to be decided in these programs,” Plueger said at a conference, noting the company had met with Boeing in Seattle on Friday.

In an emailed statement, Boeing said it is still working through the business case for the new jet, adding: “If we decide to offer the airplane and the market responds positively, we will proceed with a launch decision sometime in 2020.”

Air Lease, one of the largest aircraft lessors, said it sees interest in Boeing’s proposed mid-market aircraft from airlines, some of which are looking for longer range while others, such as Asian carriers, seek the lowest possible cost per seat kilometre.

Still, Boeing is taking a “thoughtful approach” to the potential project following a series of cost overruns and delays with its last jet program, the 787, and has yet to discuss possible pricing, Air Lease Executive Chairman Steven Udvar-Hazy said.

Air Lease will meet on Saturday with Airbus SE, which is preparing to counter the potential new jet by Boeing with a new version of its A321 and the larger A330neo.

While Boeing and Airbus have traditionally launched new jets alongside purchase commitments from airlines, interest by aircraft lessors like Air Lease is forming an increasingly important role in the decision-making process, industry sources have said.

Delta Air Lines Chief Executive Ed Bastian said on Monday that it is interested in a mid-market aircraft from Boeing to replace 200 757 and 767 aircraft over the next decade.

Last month, Rolls-Royce dropped out of the race to power Boeing’s planned jet, strengthening a leading position in the high-profile contest for a transatlantic venture involving General Electric Co and France’s Safran.

“Somebody had to drop out and the competition at this point is progressing normally,” Plueger said.

Pratt & Whitney is also a potential supplier for the new Boeing jet.

(Reporting by Tracy Rucinski in Chicago; Editing by Matthew Lewis)

Interest is rising for Boeing’s new 757 replacement jet!

Remembering Southwest Airlines Co-Founder Herb Kelleher

January 7, 2019 / WIL BALDWIN

(Reuters) – Herb Kelleher, who co-founded pioneering low-cost carrier Southwest Airlines Co and built it into an industry powerhouse stamped with his colorful, unconventional personality, died on Thursday at age 87, the U.S. carrier said.

Kelleher set up Southwest with Rollin King more than 50 years ago, with the airline making its first flight in June 1971. King died in 2014, aged 83.

Dallas-based Southwest is known for its quirky culture, closely connected with Kelleher’s maverick image, as well as its fast growth from a regional carrier into one of the biggest in the United States.

The airline flew short flights known as point-to-point, rather than the hub-and-spoke model of its bigger rivals, and used a single model of aircraft, Boeing Co’s 737, to cut complexity and cost.

Kelleher was “Grand Master Yoda of low fares airlines,” the chief executive of Europe’s largest low-cost carrier Ryanair said in a Twitter post on Friday.

“He was the leader, the visionary and the teacher: without Herb there would be no Ryanair and no low fares airlines anywhere,” said Michael O’Leary, who spearheaded the transformation of European air travel after a visit to Southwest in 1992.

Southwest’s cabin crews have become known for their good humor – a legacy of Kelleher, memorialized in a “laugh button” that visitors could press inside the company’s headquarters to hear his famous cackle.

Kelleher won the affection of customers and employees with low fares, good wages and his own high spirits. He sought to instill a sense of fun among employees, sometimes showing up in costume or helping unload baggage.

“A company is stronger if it is bound by love rather than by fear,” he was once quoted as saying.

Kelleher was also known for his fondness for smoking and bourbon.

John Plueger, chief executive of Air Lease Corp, said on Thursday that when he first met Kelleher more than 30 years ago, Kelleher was about to deliver a speech at a New York hotel. “The manager asked that he refrain from smoking. Herb looked up, smiled, and said: ‘No smokey, No talkey.’”

Kelleher was a formidable industry competitor as well.

“There aren’t a whole lot of individuals who you can point to that single-handedly contributed to building a demonstrable portion of the modern economy. Herb Kelleher was one,” tweeted Jon Ostrower, an independent aviation commentator and editor of TheAirCurrent.com.

“His model spawned the global democratization of the affordable movement of humanity by air.”

‘I LIKE TO WIN’

The New Jersey-born Kelleher served as Southwest’s executive chairman for 30 years until 2008 and was chief executive from September 1981 to June 2001.

Kelleher was long a towering figure in the U.S. airline industry along with Bob Crandall, his rival at American Airlines and polar opposite in style. The two built different business models and competed fiercely but with mutual respect.

“It was very hot competition and I like to win,” Kelleher told NPR in a 2016 podcast. Crandall, captured in a YouTube video, once serenaded Kelleher with a version of “My Way,” the song popularized by Frank Sinatra.

Steven Udvar-Hazy, executive chairman of Air Lease and a pioneer of the aircraft leasing industry, whose expansion coincided with the rise of budget carriers, paid tribute to Kelleher as “the builder of the world’s most successful low fare airline.””Herb: a final Wild Turkey Bourbon toast from all of your closest friends,” he added.

(Reporting by Manogna Maddipatla and Ismail Shakil in Bengaluru, Tim Hepher in Paris, Conor Humphries in Dublin and Jeffrey Dastin in San Francisco; Editing by Shailesh Kuber and Peter Cooney)