Los Angeles Business Journal

Air Lease Makes Large Airbus Purchase

By RYAN FAUGHNDER Monday, February 4, 2013

Los Angeles firm Air Lease Corp. said Monday it has ordered 39 Airbus jets in a deal estimated at $9 billion.

Air Lease ordered 20 of the plane manufacturer’s A350-900 aircraft and five A350-1000s, which are the largest planes in the A350 line. The company also ordered 14 of Airbus’s A321neo aircraft. The $9 billion estimate is based on list prices from Airbus, headquartered in Blagnac, France.

The A350 aircraft are scheduled to enter service in 2014. The planes seat 270 to 350 passengers and are designed to use 25 percent less fuel than existing aircraft. They compete with Boeing’s 787 Dreamliners, which have been grounded because of fire risk.

“The A350 family is becoming the industry benchmark for efficiency in the long-haul segment,” Steven Udvar-Hazy, Air Lease chief executive, said in a statement.

“These aircraft will help airlines grow their businesses while simultaneously reducing their operating costs and emissions.”

The A350 planes have received 617 orders from 35 customers including Air Lease.

Udvar-Házy ranked No. 11 last year on the Business Journal’s list of Wealthiest Angelenos with an estimated net worth of $3.2 billion. Before launching Air Lease in 2010 he was the founder of aircraft leasing giant International Lease Finance Corp.