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Press Release - March 30, 2021
Air Lease Corporation Announces Delivery of First of Ten New Boeing 737-8 Aircraft to Blue Air

LOS ANGELES, California, March 30, 2021 – Today Air Lease Corporation (NYSE: AL) announced the delivery of one new Boeing 737-8 aircraft on long-term lease to Blue Air (Romania).  This aircraft, featuring CFM LEAP-1B25 engines, is the first of ten new Boeing 737-8s confirmed to deliver to Blue Air from ALC’s order book with Boeing.  The nine new 737-8 aircraft that follow are scheduled to deliver to Blue Air April 2021 through 2022.

“ALC is pleased to deliver this first of ten new 737-8 aircraft to Blue Air, Romania’s largest airline, today,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “Once all of the ALC 737-8s are delivered, Blue Air will have the largest fleet of new 737-8s in Eastern Europe.  The 737-8 will provide the most modern, fuel-efficient technology to advance the airline’s overall growth and route expansion objectives.”

“Today marks a new milestone in Blue Air’s journey.  The delivery of this first of ten Boeing 737-8s comes in line with our airline’s commitment to provide European customers The Better Way to Fly.  As we increasingly acknowledge the responsibility of the airline industry for a greener future, Blue Air joins the airline community as an active player in delivering the lowest carbon emissions known to date by a narrow body passenger aircraft.  The accelerated replacement of our classic fleet is ensured by the long-lasting strategic partnership with Air Lease Corporation as Blue Air’s main lessor.  A special acknowledgment and thanks goes to the ALC team that made this delivery possible amid these challenging COVID times.  This and the next projected deliveries will ensure Blue Air’s resilience and will secure our company position as the main Romanian player in the passenger aviation market,” said Cristian Rada, Majority Shareholder of Blue Air. 

In addition to the new Boeing 737-8 aircraft that delivered today, Blue Air currently has six Boeing 737-800s and one Boeing 737-700 on long-term lease with ALC. 

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.  ALC routinely posts information that may be important to investors in the “Investors” section of ALC’s website at Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.

About Blue Air

As Romania’s leading Airline Company, Blue Air was founded in Bucharest in 2004 and developed throughout the years to become a pan European Smart Flying operator with bases in Romania and Italy. Since 2016, it has become the largest Romanian airline by scheduled passengers flown, operating flights to more than 100 destinations in 16 countries. The Better Way to Fly model provide superior passenger satisfaction through proven safe operations, reliable wide network schedule, and a customer centric approach offering our guests an affordable and friendly experience.