ALC Signs LOI for 111 Airbus Aircraft; Becomes Launch Lessor for A350F

(16 Nov 2021)  Air Lease Corporation has signed a Letter of Intent for 25 A220-300s, 55 A321neos, 20 A321XLRs, 4 A330neos and 7 A350Fs.

The order, which is expected to be finalised in the coming months, makes the Los Angeles-based ALC one of Airbus’ largest customers and the lessor with the biggest A220 order book.

Founded in 2010, ALC has ordered a total of 496 Airbus aircraft to date.

Steven F Udvar-Hazy, Executive Chairman of Air Lease Corporation, said, “This new order announcement is the culmination of many months of hard work and dedication by both organizations to optimize and fine tune the size and scope of this large aircraft transaction in view of the rapidly growing global airline demand to modernize their jet fleets through the ALC leasing medium.

As part of the deal of 111 Airbus aircraft, ALC has ordered 7 A350Fs and will be the launch lessor of the new freighter.

“After lengthy and detailed consultations with several dozen of our strategic airline customers around the world, we are focusing this comprehensive order on the most desirable and in demand aircraft types, covering the A220, A321neo, A330neo and A350 families.

“These multi-year additions of new technology aircraft assets to ALC’s expanding portfolio will allow us to grow our revenues and profitability while satisfying our airline customer requirements.

“ALC was the launch customer for the very popular A321LR and XLR versions. Now, we become the launch lessor for the A350F and by far the largest lessor customer for the A220. We had the vision to be first adopters of the A321 and are convinced we have made the right choice again on the A220 and A350F, responding to what we see the market will need in the period of recovery ahead.”

The A220, formerly the Bombardier C Series, is the only aircraft purpose built for the 100-150 seat market. The aircraft delivers 25% better fuel efficiency with widebody passenger comfort in a single-aisle aircraft.

The A321 Family, which includes the XLR version with up to 4,700nm long range and 30% lower fuel consumption, combined with the A330neo are ideal partners for the so-called middle of the market segment.

The A350F will be the first new generation freighter aircraft ready for the 2027 ICAO CO2 emissions standards.

“This is a major announcement for Airbus in 2021. ALC’s order signals we’re moving beyond the Covid doldrums. With foresight, ALC is solidifying its order portfolio for the most desirable aircraft types as we exit the crisis and in particular, it has seen the formidable value the A350F brings to the cargo market. ALC’s endorsement confirms the global enthusiasm we see for this quantum leap in the freighter space and we applaud its insightfulness in selecting it and in beating everyone to the finish line for the first A350F order announcement,” said Christian Scherer, Airbus Chief Commercial Officer and Head of Airbus International.