Air Lease Corporation Announces the Sale of Its ATR Fleet to Nordic Aviation Capital
December 23 2015 - 4:32PM
Business Wire
Air Lease Corporation (NYSE: AL) announced the sale of 25 ATR
aircraft in its fleet to Nordic Aviation Capital A/S (“NAC”). These
ATR aircraft have served ALC well in meeting the demand from
airline customers operating shorter sector lengths. As the business
has matured, ALC has focused more on its mainline jet aircraft
operations with these turboprop aircraft now accounting for less
than 5% of the current fleet. NAC is a global leader specializing
in meeting the needs of ATR turboprop operators and this
transaction adds further scale to their business. ALC anticipates
that a majority of aircraft transfers will occur during the first
half of 2016.
“This is a great result for ALC shareholders. Our ATR fleet is a
profitable platform which assisted ALC with its early development.
The sale of this portfolio allows us to deploy more capital to grow
our main line jet fleet,” said Steven F. Udvar-Házy, Chairman and
Chief Executive Officer of Air Lease Corporation.
“NAC is the world’s largest turboprop lessor and this fleet of
ATR aircraft is a fantastic addition to our current portfolio of
over 250 aircraft. ALC has built up an impressive group of ATR
customers and we are delighted to add them to our growing list of
customers. We look forward to providing them with the same high
level of customer care that ALC has provided to them in recent
years. We understand ALC’s desire to maintain focus on mainline
jets as NAC will also continue to maintain its focus on our core
regional aircraft market,” said Martin Møller, Chairman of Nordic
Aviation Capital A/S.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including expected transfer 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.
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Air Lease CorporationInvestors:Ryan McKennaVice
President310-553-0555rmckenna@airleasecorp.comorMedia:Laura St.
JohnManager, Media and Investor
Relations310-553-0555lstjohn@airleasecorp.com
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