Air Lease Corporation Announces Delivery of One New Boeing 737-8 Aircraft to Cayman Airways

LOS ANGELES--(BUSINESS WIRE)--Air Lease Corporation (NYSE: AL) announced the delivery of one new Boeing 737-8 aircraft on long-term lease to Cayman Airways. This aircraft, featuring LEAP-1B27 engines, is the third new 737-8 to deliver to Cayman Airways from ALC’s order book with Boeing.

“ALC is honored to work with Cayman Airways, the national flag carrier of the Cayman Islands, to modernize the airline’s fleet and expand their route network,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “Our team has now leased three generations of Boeing 737 aircraft to Cayman Airways: the 737-300, 737-800 and now the 737-8. The new technology 737-8s will further the airline’s long-term goals, providing advanced technology, passenger comfort and fuel-efficiency.”

Cayman Airways President and Chief Executive Officer, Fabian Whorms said: “We are very fortunate and appreciative of having ALC as our aircraft lessor while we retire and replace our aging B737-300 aircraft with the new B737-8 aircraft model. ALC was selected by Cayman Airways in 2016 after a competitive public tendering process and ALC has subsequently demonstrated a very strong commitment to working with Cayman Airways through the most difficult of industry challenges. Cayman Airways also has a historical relationship working with Mr. Udvar-Hazy that spans more than three decades, and we look forward to continued excellent relations with ALC for many years to come.”

Forward-Looking Statements

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. ALC routinely posts information that may be important to investors in the “Investors” section of ALC’s website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC’s website is not incorporated by reference into, and is not a part of, this press release.

About Cayman Airways

As the national flag carrier for the Cayman Islands, Cayman Airways has operated in recent years non-stop Boeing 737 jet service between the Cayman Islands and the following major US cities: Miami and Tampa, Florida; New York, New York; Dallas, Texas; Denver, Colorado; and Chicago, Illinois. Non-stop jet service is also provided between the Cayman Islands and regional destinations including: Kingston and Montego Bay, Jamaica; Havana, Cuba; and La Ceiba, Honduras. The airline’s Cayman Airways Express service currently operates Saab 340B-plus and deHavilland DH6 Twin Otter aircraft between Grand Cayman and the Sister Islands of Little Cayman and Cayman Brac.