Los Angeles Business Journal

Air Lease Signs Deal for Two Airbuses

By Jonathan Polakoff Monday, July 1, 2013

Air Lease Corp. in Century City announced Monday it has reached a deal to lease two planes to Monarch Airlines of London.

The planes, two new Airbus A321-200 models, will be delivered to Monarch in April and May of 2015. Monarch flies internationally, including service to European vacation spots along the Mediterranean coast and the Canary Islands as well as wintertime ski destinations.

Also, Air Lease announced a long-term lease deal with Etihad Airways last week. That deal will send a new Boeing 777-300ER to the Abu Dhabi airline in September 2014. Etihad is the second largest airline in the United Arab Emirates after Dubai-based Emirates.

Air Lease has also been buying aircraft. Last week Air Lease announced the purchase of five twin-engine turboprop planes from French manufacturer ATR.

Earlier this month, Air Lease reached a deal with Boeing to purchase 30 of its forthcoming 787-10X Dreamliners and three 787-9 Dreamliners.

Air Lease shares were down 1.1 percent to $27.30 in Monday trading on the New York Stock Exchange.