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A service for airline industry professionals · Thursday, April 19, 2018 · 442,943,736 Articles · 3+ Million Readers

Air Lease Corporation Announces the Placement of Airbus A320-200neo with Atlantic Airways

LOS ANGELES, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Air Lease Corporation (NYSE:AL) announced a long term lease agreement for one Airbus A320-200neo with Atlantic Airways, the national airline of the Faroe Islands.  The aircraft will deliver in March 2019 from ALC’s order book with Airbus. 

Atlantic Aviation Airbus A320-200neo
Atlantic Aviation Airbus A320-200neo


“We are very pleased to announce this new lease placement with Atlantic Airways, a new customer for ALC,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “Atlantic Airways connects the Faroe Islands in the North Atlantic with multiple destinations in Scandinavia and a growing route network in Europe.  The A320neo will help add capacity and efficiency to Atlantic’s all-Airbus fleet.”

Grant Levy, Air Lease Corporation’s Executive Vice President added, “ALC is delighted to welcome Atlantic Airways as our newest customer, and we expect the addition of the A320neo to enhance their fleet operations and provide their passengers with an even better experience than the great service already provided by Atlantic Airways.”

“The addition of this modern, fuel-efficient A320neo aircraft supports our main objective to connect the Faroe Islands with the world, providing good fares to Faroese travelers and further developing the Faroese tourist industry,” said Jóhanna á Bergi, CEO of Atlantic Airways. 

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 Atlantic Airways

Atlantic Airways is an international company whose corporate culture is known by its focus on safety, punctuality, the customer and the result. The Sørvágur-based company, which is the Faroese flag carrier airline, currently employs around 172 people. The Atlantic Airways fleet consists of three aircraft and two helicopters. The aircraft provide regular service between the Faroes and a range of cities in Denmark as well as neighboring countries, with direct routes to Copenhagen, Billund, Aalborg, Bergen, Reykjavik, Edinburgh, Barcelona, ​​Mallorca, Lisbon, Malta and Gran Canaria.  In addition, the company’s activities include charter operation outside the Faroes. The helicopter department provides regular service to the different islands in the Faroes and search-and-rescue activities.

/EIN News/ --

Investors:

Mary Liz DePalma
Assistant Vice President, Investor Relations
Email: mdepalma@airleasecorp.com

Media:

Laura Woeste
Manager, Media and Investor Relations
Email: lwoeste@airleasecorp.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/acf726f8-c433-47a9-9df3-b3767c1cea63

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