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Air Lease Corporation (ALC) is an American
aircraft leasing Aircraft leases are leases used by airlines and other aircraft operators. Airlines lease aircraft from other airlines or leasing companies for two main reasons: to operate aircraft without the financial burden of buying them, and to provide tempor ...
company founded in 2010 and headed by Steven F. Udvar-Házy. Air Lease purchases new commercial aircraft through direct orders from
Boeing The Boeing Company () is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. The company also provides leasing and p ...
,
Airbus Airbus SE (; ; ; ) is a European multinational aerospace corporation. Airbus designs, manufactures and sells civil and military aerospace products worldwide and manufactures aircraft throughout the world. The company has three divisions: ' ...
, Embraer and ATR, and leases them to its airline customers worldwide through specialized aircraft leasing and financing. At the end of 2017, Air Lease reported that it owns 244
Airbus Airbus SE (; ; ; ) is a European multinational aerospace corporation. Airbus designs, manufactures and sells civil and military aerospace products worldwide and manufactures aircraft throughout the world. The company has three divisions: ' ...
,
Boeing The Boeing Company () is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. The company also provides leasing and p ...
, Embraer, and ATR aircraft, which it leases to over 91 airlines across 55 countries in every major geographical region in the world. Air Lease provides airlines with net operating leases, which require the lessee to pay for maintenance, insurance, taxes and all other aircraft operating expenses during the lease term. , Air Lease owns 271 aircraft, 38.9% of which are
Boeing 737-800 The Boeing 737 Next Generation, commonly abbreviated as 737NG, or 737 Next Gen, is a narrow-body aircraft powered by two jet engines and produced by Boeing Commercial Airplanes. Launched in 1993 as the third generation derivative of the Boein ...
s, and had 391 aircraft on order.


History

Steven Udvar-Házy, chairman and chief executive of Air Lease, was a founder of Century City, CA-based aircraft leasing giant International Lease Finance Corp. (ILFC) and stayed on as chief executive after it was sold to
American International Group American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. , AIG companies employed 49,600 people.https://www.aig.com/content/dam/aig/amer ...
(AIG) in 1990. Udvar-Házy left ILFC to start Air Lease in 2010 following a dispute with AIG. Udvar-Házy started Air Lease in February 2010 with former ILFC chief operating officer John Plueger, who has the same role at the new company. On April 19, 2011, AL had an
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
of Class A stock on the New York Stock Exchange, and raised an estimated total of US$965.6 million. Udvar-Hazy, estimated by Forbes in 2015 to have a net worth of $3.7 billion, has a 7 percent stake.


Aircraft leasing

At the 2019
Paris Air Show The Paris Air Show (french: Salon international de l'aéronautique et de l'espace de Paris-Le Bourget, Salon du Bourget) is a trade fair and air show held in odd years at Paris–Le Bourget Airport in north Paris, France. Organized by the French ...
Virgin Atlantic signed a deal for up to 20 Airbus A330-900 aircraft making it the first UK customer for the aircraft. Eight aircraft will come directly from Airbus, six from Air Lease Corporation and it has options on a further six aircraft. They will replace older Airbus A330-200s and -300s and deliveries are expected from September 2021 to 2024. At the same venue Air Lease Corporation signed a deal for 29
Airbus A321XLR The Airbus A320neo family is a development of the A320 family of narrow-body airliners produced by Airbus. The A320neo family (''neo'' for "new engine option") is based on the previous A319, A320 and A321 ( enhanced variant), which was then ren ...
aircraft, as well as a letter of intent for 50 Airbus A220-300 aircraft.


References


External links

* {{Authority control Companies listed on the New York Stock Exchange Companies based in Los Angeles Aircraft leasing companies Transport companies established in 2010 Financial services companies established in 2010 American companies established in 2010 2011 initial public offerings 2010 establishments in California