LOS ANGELES, February 28, 2018 - Air Lease Corporation (NYSE: AL) announced lease agreements for two IAE V2527-powered Airbus A320-200s with IndiGo, India’s largest passenger airline by market share. Both aircraft are scheduled to deliver in Q3 2018.
“We are pleased to announce these two A320-200 lease placements with IndiGo, a new customer for ALC,” said Kishore Korde, Executive Vice President of Air Lease Corporation. “IndiGo has become the benchmark that many other leading low-cost airlines measure themselves against. India is a very high growth airline market and ALC is pleased to contribute to the dynamic development of airline expansion in India with these aircraft placements.”
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.
IndiGo is India's largest airline with a market share of 39.4% as of December 2017. IndiGo is one of the fastest growing low cost carrier in the world (source: CAPA). IndiGo has a simple philosophy: offer fares that are always low, flights that are on time, and a travel experience that is courteous and hassle-free. IndiGo, with a Technical Dispatch Reliability of 99.87% (October-December 2017) has one of the best On Time Performances in India. With its fleet of over 150 Airbus A320 family aircraft and three ATRs, the airline operates over 1000 daily flights connecting 49 destinations.