FARNBOROUGH, England–(BUSINESS WIRE)–Air Lease Corporation (NYSE:AL) today announced long-term leases for six new Airbus A220-300s from TAAG Angola Airlines. The planes are expected to be delivered to the airline from 2023 through 2024 from ALC’s backlog with Airbus.
“ALC is pleased to announce this significant lease placement for six new Airbus A220s with TAAG and to be the first to introduce Airbus aircraft to the airline,” said Steven Udvar-Házy, Executive Chairman of Air Lease. Corporation. “The capabilities of the A220-300 will significantly improve TAAG’s operational efficiency and the expansion of the route network with the most modern and fuel-efficient aircraft.”
“The A220-300, with its improved fuel efficiency, range and operating economics, will gradually replace TAAG’s Boeing 737-700 fleet and allow the airline to optimize and expand its schedule coverage. flight schedules and destinations from Luanda,” said Kishore Korde, Executive Vice President of Air Rental Company.
“Today we begin our relationship with ALC by integrating six new Airbus A220-300s into our fleet. This is indeed an important announcement for us as we celebrate a new era and a new vision for TAAG. We are alive , back in business, breaking with the past to deliver better results and become a benchmark for Africa.This partnership underscores our commitment to grow and further enhance our credibility with international stakeholders while creating a new business proposition. value for our passengers,” said Eduardo Fairen, CEO of TAAG.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. These statements are based on current expectations and projections regarding our future results, prospects and opportunities and are not guarantees of future performance. These statements will not be updated except as required by law. Actual results and performance may differ materially from those expressed or anticipated 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 with airlines worldwide. ALC and its team of dedicated and experienced professionals are primarily dedicated to purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. ALC regularly posts information that may be important to investors in the “Investors” section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to periodically check ALC’s website for important information about ALC. Information contained on or accessible through ALC’s website is not incorporated by reference into, and does not form part of, this press release.
TAAG Angola Airlines was founded in 1938 and is based in Luanda, the capital of Angola. For more than 80 years, TAAG has connected Angolans to its main national and international markets. TAAG is the leading airline in Angola, having expanded its current network to 14 domestic destinations and 12 international destinations. In addition to passenger transport, TAAG offers air cargo services which have become essential for the growth and development of Angola. TAAG is a company that is proud of its long and proven history of service and performance improvement.