Udvar-Hazy's Air Lease firms up $2.5bn order for 19 Boeing aircraft
20 Aug 2011
Aircraft leasing company Air Lease Corp has confirmed an order for 19 aircraft from Boeing Co for about $2.5 billion at list prices. The order, earlier in June, was attributed to an unidentified customer.
The order includes up to 14 Next-Generation B737-800s, with options for four more, and five B777-300ERs.
The order adds to Air Lease's existing backlog of 60 Next-Generation 737-800s.
Los Angeles-based Air Lease is headed by chairman and CEO Steven Udvar-Hazy, the former chairman and CEO of aircraft lessor International Lease Finance Corp or ILFC, a unit of insurance giant American International Group Inc (AIG).
"This order for Next-Generation 737-800s and 777-300ERs is a key building block in the foundation of our growing commercial leasing fleet. With this order, we'll be able to offer our clients a most economical, fuel-efficient and versatile airplane, suitable for a variety of profitable missions," Udvar-Hazy said in a statement.
The current order was agreed upon during the Paris Air Show and included the purchase of 33 aircraft, including a total of 24 Next-Generation B737-800s, five B777-300ERs and four B787-9 Dreamliners.
Earlier, Boeing has said that it was committed to boost production rate for the Next-Generation B737 model to reach 42 airplanes per month in 2014, citing the market outlook of continued strong demand for the single-aisle jetliners.
Boeing's 737 family is one of the best-selling airliners in history.
