Air Lease Corporation Announces Lease Placement of Four New Boeing 737-8 MAX with Cayman Airways
July 12 2016 - 9:45AM
Business Wire
Air Lease Corporation (NYSE: AL) announced today the placement
of four new 737-8 MAX aircraft on long-term lease to Cayman
Airways, delivering between Q4 2018 and Q3 2020 from ALC’s order
book with Boeing.
In addition to the lease placement of four new Boeing 737-8 MAX
aircraft, Cayman Airways will also lease one used Boeing 737-800
(MSN 30289) from ALC, with delivery in Q4 2016 on a 25-month lease,
bridging the airline to the new 737-8 MAX deliveries.
“Cayman Airways is the national flag carrier for the Cayman
Islands, and we at ALC are pleased with being selected by the
airline, after an open tendering process, to expand and modernize
their jet fleet. The new technologies in the MAX 8 aircraft will
bring a new level of efficiency and passenger comfort to Cayman
Airways that will greatly enhance the airline’s competitive
capabilities,” said Steven Udvar-Házy, Executive Chairman of Air
Lease Corporation.
“ALC is very pleased to announce these five lease placements
with Cayman Airways. Cayman Airways is in its 48th year of
operation and we are looking forward to a strong relationship with
Cayman Airways as they grow their fleet and network,” said Kishore
Korde, Air Lease Corporation’s Executive Vice President.
Cayman Airways Board Chairman Philip Rankin said, “We are very
pleased to enter into these lease agreements with Air Lease
Corporation. The technological advancements and passenger comfort
features inherent with Boeing 737-8 MAX aircraft are key to the
Cayman Airways’ fleet modernization program. This represents a
monumental step towards meeting our medium to long term strategic
goals and achieving the best possible reliability and customer
service.”
The Deputy Premier of the Cayman Islands and Minister of Tourism
with responsibility for the national airline, Hon. Moses
Kirkconnell expressed that, “This is a milestone in the history of
Cayman Airways and the Cayman Islands. The national airline is a
fundamental part of our tourism industry and a huge part of our
islands social fabric. The new aircraft will not only enhance our
service levels but will create new gateway possibilities from which
the Cayman Islands tourism industry can benefit, such as the US
West Coast.
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. For more information, visit ALC's website at
www.airleasecorp.com.
About Cayman Airways
As the national flag carrier for the Cayman Islands, Cayman
Airways currently operates non-stop Boeing 737 jet service between
the Cayman Islands and the following major US cities: Miami and
Tampa, Florida; New York, New York; Dallas, Texas and Chicago,
Illinois. Non-stop jet service is also provided between the Cayman
Islands and regional destinations including: Kingston and Montego
Bay, Jamaica; Havana, Cuba; and La Ceiba, Honduras. The airline’s
Cayman Airways Express service currently operates Saab 340B-plus
and deHavilland DH6 Twin Otter aircraft between Grand Cayman and
the Sister Islands of Little Cayman and Cayman Brac.
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version on businesswire.com: http://www.businesswire.com/news/home/20160712005083/en/
Air Lease CorporationInvestors:Ryan McKenna, 310-553-0555Vice
Presidentrmckenna@airleasecorp.comorMedia:Laura St. John,
310-553-0555Manager, Media and Investor
Relationslstjohn@airleasecorp.com
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