Aircraft Finance & Leasing News - North America.

 
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New York (AirGuideBusiness - Aircraft Finance & Leasing News North America) Apr 29, 2012

Air Lease Air Lease Corporation Announces First Quarter 2012 Earnings Conference Call. Air Lease Corporation will host a conference call on May 14, 2012 at 4:30 PM Eastern Time to discuss the Company's first quarter financial results for 2012. Investors can participate in the conference call by dialing 800-798-2884 domestic or 617-614-6207 international. The passcode for the call is 26561148. For your convenience, the conference call can be replayed in its entirety beginning at 6:30 PM ET on May 14, 2012 until 11:59 PM ET May 21, 2012. If you wish to listen to the replay of this conference call, please dial 888-286-8010 domestic or 617-801-6888 international and enter passcode 13474216. The conference call will also be broadcast live through a link on the Investor Relations page of the Air Lease Corporation website at www.airleasecorp.com. Please visit the website at least 15 minutes prior to the call to register, download and install any necessary audio software. A replay of the broadcast will be available on the Investor Relations page of the Air Lease Corporation website. Apr 27, 2012

Air Lease Statement From Air Lease Corporation Regarding AIG's Lawsuit. Air Lease Corporation today made the following statement: Since Air Lease CorporationOs founding in 2010, it has experienced terrific success in the marketplace and among investors. In contrast, following AIGOs financial collapse, its subsidiary International Lease Finance Corporation has struggled with an aging fleet, heavy debt load, and loss of talent, and has failed to complete a planned IPO. Unable to compete effectively and perceiving Air Lease as a growing threat, AIG/ILFC has now resorted to a baseless trade secrets lawsuit that Air Lease will vigorously contest and defeat. And while AIG/ILFC wastes its time in court, Air Lease [ETH] under the leadership of Steve Udvar-Hzy, one of the most influential figures in the aircraft leasing industry [ETH] will continue to focus on providing the best products and services for airlines worldwide. Apr 24, 2012

Air Lease Air Lease Corporation Announces Additional Aircraft Purchases and Lease Placements Including Its First Boeing 787-9 Lease Transaction. Air Lease Corporation announced the following transactions covering 11 twin aisle aircraft and two single aisle aircraft including: The purchase of eight new Boeing 787-9 aircraft for lease to Vietnam Airlines. Deliveries of the eight 787-9 "Dreamliner" aircraft are scheduled for 2017 and 2018. This transaction marks ALC's longest lead time for a lease placement to date. The purchase from Macquarie Aviation of one B777-300ER on long term lease to Emirates (a new customer for ALC).

One incremental A330-200 on long term lease to KLM delivering in 2013. One A330-300 from the ALC pipeline on long term lease to Sichuan Airlines delivering in 2013. Sichuan airlines also executed a four year extension on one A319 aircraft currently on lease from ALC. One Embraer 190 from the ALC pipeline leased to LAM (Mozambique) delivering in 2012. OThese global lease placements demonstrate the growth of our widebody business in Asia, the addition of Emirates to our customer base, our increasing level of business with KLM, as well as our further expansion into proven carriers in Southern Africa such as LAM. The marketplace for the products represented by these lease placements remain strong," said John L. Plueger, President & Chief Operating Officer of ALC. Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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. Apr 23, 2012

Air Lease, Boeing, Vietnam Airlines Aircraft lessor Air Lease said on Monday it had ordered eight new Boeing 787-9 Dreamliner aircraft worth $1.8 billion at list prices for lease to Vietnam Airlines. Deliveries of Boeing's new lightweight carbon-composite aircraft are scheduled for 2017 and 2018, the Los Angeles-based company said in a statement. Air Lease Corp had already placed an order for four 787-9s in December last year, according to the Boeing website. The company was founded in 2010 by Steven Udvar-Hazy, widely considered the pioneer of modern aircraft leasing. Udvar-Hazy co-founded International Lease Finance Corp in 1973, later sold it to U.S. insurer AIG and resigned to run his current company in February 2010. Air Lease announced the 787 order shortly after it also emerged as a previously unidentified buyer for Boeing's latest model, a revamped medium-haul jet called the 737 MAX. The deal is expected to involve 60 of the fuel-efficient jets and is worth some $6 billion at list prices. It is already included in a Boeing list of commitments that still must be converted to firm orders, according to the two sources who asked not to be named because negotiations remain confidential. The MAX, latest version of the best selling 737, which will feature new fuel-efficient engines when it comes to market in 2017, competes with the upcoming Airbus A320neo, which also will have new engines. Neither Air Lease nor Boeing (BA) would comment on the 737MAX order. Air Lease also has a pending provisional order for 36 A320neo-family aircraft and plans to close an order for a further 16 in January 2013. Industry experts believe Air Lease could announce the MAX order at the Farnborough Air Show in the UK in July. The Wall Street Journal reported on Monday that Air Lease was close to a deal to finalize the 737 order. Udvar-Hazy has criticized decisions, first by Airbus and then by Boeing, to upgrade their best-selling medium-haul jets with new engines rather than completely redesigning them. A redesign would have generated greater fuel efficiency but taken longer to bring to market. Boeing and its European competitor have notched up more than 2,500 firm and provisional orders between them for the revamped jets, which aim to provide 12-15 percent fuel savings. Speaking at a conference last week, Udvar-Hazy conceded neither manufacturer was likely to build an all-new model in the crucial 100- to 200-seat market soon, and indicated the leasing companies would throw their weight behind the new models. "For the time being, what we have is what we know," Udvar-Hazy told the AFCA air finance conference in Barcelona. Udvar-Hazy said he saw most demand for aircraft at the higher end of the 100- to 200-seat category, corresponding to the 180-seat Airbus A321 and the Boeing 737MAX 9. "The large end of the narrowbody spectrum is where most sales will occur," he said, adding the average number of seats per airline departure was gradually rising. Leasing companies tend to place orders where they think there will be most liquidity in the market. However, analysts say many buyers will wait for further clarity on the design of the 737MAX before completing orders. So far, Airbus leads the race to sell the new fuel-efficient variants. It has won 1,289 firm orders and 266 provisional ones, including the 36 Air Lease A320neo jets waiting to be finalized. Boeing, which considered a new plane but decided to catch up with Airbus by re-engining the 737 last summer, has sold 451 MAX aircraft. It has won provisional orders for 135 more from declared customers and over 400 that remain unidentified. United Airlines is finalizing a deal with Boeing to buy at least $10 billion worth of revamped and current models after Airbus was bumped out of the race, industry sources say. Continental, an all-Boeing airline which merged with United in 2010 to form the world's largest carrier, already operates the larger 737 models. The founder of AirAsia, Tony Fernandes, meanwhile said on Twitter that the Malaysian low-cost carrier was set for further expansion this week, prompting speculation that it could buy conventional A320s to ensure its short-term expansion. The airline placed a record order for 200 Airbus A320neo aircraft at the Paris Air Show last summer, but those enhanced jets will not enter service until 2015. Apr 23, 2012

Aviation Capital Group ACG Prevails in Case with Olympic Airlines. Aviation Capital Group (ACG) has prevailed in its litigation with Olympic Airlines (Olympic). In a case that has attracted considerable attention in the aircraft leasing industry, the English High Court rendered judgment today in ACGOs favor in ACG Acquisition XX LLC v Olympic Airlines S.A. The Court found that Olympic was bound by its acceptance of a leased aircraft and its statement that the aircraft satisfied the delivery conditions. As a result, Olympic is liable for unpaid rent and not entitled to damages. By upholding a lesseeOs acceptance of a leased aircraft, the judgment highlights the importance of commercial certainty to all participants in the aircraft leasing industry. In August 2008, Olympic, the now-defunct Greek state airline, accepted a Boeing 737-300 aircraft from ACG Acquisition XX LLC after carrying out extensive pre-delivery inspections. It executed a Certificate of Acceptance confirming that the aircraft complied with the delivery conditions in all respects. Both the Malaysian and Greek aviation authorities issued certificates of airworthiness for the aircraft. Subsequently, a fault was discovered with a spoiler cable. Following further inspections a number of other issues were identified. Olympic carried out work on the aircraft but failed to return it to service. The Court has now confirmed that ACG was unaware of any defects in the aircraft...

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