LOS ANGELES, February 11, 2019 – Air Lease Corporation (NYSE: AL; “ALC”) announced today long-term lease agreements with Caribbean Airlines for four new Boeing 737 MAX 8 aircraft, scheduled to deliver to the airline starting in the fourth quarter of 2019 through 2020. These four new aircraft will join two Boeing 737-800s currently on lease to Caribbean Airlines from ALC.
“ALC is extremely pleased to announce this lease placement for four new Boeing aircraft with Caribbean Airlines and be the first to introduce the 737 MAX 8 to the airline this year,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “The capabilities of the 737 MAX 8 will improve operational efficiency and contribute to Caribbean Airlines’ long-term success as the flag carrier of Trinidad and Tobago.”
“The Boeing 737 MAX 8 will allow Caribbean Airlines to completely revamp and upgrade its fleet by replacing its older Boeing 737-800s,” added Kishore Korde, Executive Vice President of Air Lease Corporation. “As a testament to our strong relationship with Caribbean Airlines spanning over two decades, the Boeing 737 MAX 8 is the third new aircraft type that ALC team members have introduced to the airline (and its predecessor) during their careers.”
“Caribbean Airlines is delighted to introduce the Boeing 737 MAX 8 to our fleet with ALC,” said Garvin Medera, Chief Executive Officer of Caribbean Airlines. “The 737 MAX 8 will play an integral role in our success going forward as we continue to increase our competitiveness and high-quality customer service throughout the Caribbean and North and South America.”
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 Caribbean Airlines
Founded in 2006, Caribbean Airlines currently operates more than 600 weekly flights to 20 destinations to and from the Caribbean and North and South America. The airline's fleet is comprised of Boeing 737-800 and ATR 72-600 aircraft. Jointly owned by the people of Trinidad and Tobago and Jamaica, Caribbean Airlines is headquartered in Trinidad and Tobago, with an operational base in Jamaica. Caribbean Airlines is an authentic Caribbean airline which provides a genuine Caribbean experience on all its services.