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North America Newsletter 15 July

North America Newsletter 15 July

Air Lease Corporation Activity Update for the Second Quarter of 2019

Air Lease Corporation announced an update on activity taking place in the second quarter of 2019. As of June 30, 2019, ALC’s fleet was comprised of 297 owned aircraft and 64 managed aircraft, with commitments to acquire a total of 345 new aircraft for delivery through 2024. ALC took delivery of 17 aircraft and one used Airbus A330-300 purchased in the secondary market.

Air Lease Corporation Announces Lease of Two Airbus A321-200s to Air Canada

Air Lease Corporation announced 11th July the lease and delivery of two Airbus A321-200 aircraft to Air Canada. “We are delighted to announce the lease of these two young A321 aircraft to Air Canada, which will support their fleet requirements and expanding network for many years to come,” said John L. Plueger, Chief Executive Officer and President of Air Lease Corporation.

Airbus delivers Delta’s 50th U.S.-produced A321 powered with sustainable jet fuel

Airbus has delivered to Delta Air Lines its fiftieth A320 Family aircraft produced in the Airbus U.S. production facility in Mobile. This A321 delivery is also a significant milestone for Airbus and Delta in their wider partnership on sustainability, as it is the first of a total of 20 aircraft being delivered with a blend of sustainable jet fuel over the next year.

American Airlines and Cathay Dragon Launch Codeshare Agreement

American Airlines has launched a codeshare agreement with Cathay Dragon, adding service to four new destinations and increased service to three existing markets in Southeast Asia. American will place its code on select Cathay Dragon flights from Hong Kong International Airport (HKG), providing American’s customers seamless connecting service to seven cities beyond Hong Kong.

Fitch Affirms Aviation Capital Group at ‘BBB+’; Outlook Revised to Evolving

Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) and senior unsecured debt ratings of Aviation Capital Group LLC (ACG) at ‘BBB+’. The short-term IDR has been affirmed at ‘F2’ and Fitch has assigned a ‘F2’ rating to ACG’s commercial paper program. The Rating Outlook has been revised to Evolving from Positive.

JetBlue Announces New Caribbean Service to Guadeloupe

JetBlue announced 14th July the expansion of the airline’s leadership position in the Caribbean and Latin America with new service between New York’s John F. Kennedy International Airport (JFK) and Guadeloupe’s Pointe-à-Pitre International Airport (PTP) will operate three times per week on Saturdays, Mondays and Wednesdays starting 1st February 2020. Andrea Lusso, director route planning stated “A long-time favorite getaway spot for French and other Western Europeans travelers, we can’t wait to introduce our JetBlue customers to this unique corner of the Caribbean”.

Qatar Airways and Boeing finalize order for Five Boeing 777 Freighters

Qatar Airways and Boeing finalised a significant order for five Boeing 777 freighters during a ceremony at the White House on Tuesday 9 July. In the presence of His Highness Sheikh Tamim Bin Hamad Al-Thani, Amir of the State of Qatar and U.S. President Donald Trump, a signing ceremony between Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker and Boeing Commercial Airplanes President and CEO, Mr. Kevin McAllister. The order, worth $1.8 billion at current list prices was previously announced with the signing of a Memorandum of Undertsanding at the Paris Air Show in June.

Qatar Airways and GE Sign GEnx and GE9X Engines and Services Agreements

Qatar Airways and GE Aviation signed multiple agreements for GE engines. As part of the agreements, Qatar Airways selected the GEnx engine to power its 30 new Boeing 787-9 aircraft along with a TrueChoiceTM Flight Hour agreement to cover the maintenance, repair and overhaul (MRO) of the engines. Qatar Airways also signed a TrueChoiceTM Flight Hour agreement for MRO services on its GE9X engine fleet that will power 60 Boeing 777X aircraft. The agreements are valued at more than $5 billion.

Willis Lease signs ConstantAccess™ agreement with major European Airline

Willis Lease Finance Corporation has entered into an agreement to provide ConstantAccess™ Platinum to a major European operator for a fleet consisting of 40 engines. The agreement will provide guaranteed availability of spare engines for both planned, and unplanned removals. “We are finding a greater number of airlines, both legacy operators as well as low cost carriers, are opting to contract with us to provide them with spare engine coverage on a ‘just in time basis’ rather than maintaining a portfolio of underutilized assets” – commented Austin C. Willis, SVP of Corporate Development of Willis Lease.

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