Air Lease Corporation Announces Lease Placement for Two New Airbus A220 Aircraft with Cyprus Airways

LE BOURGET, France--(BUSINESS WIRE)--Today Air Lease Corporation (NYSE: AL) announced long-term lease placements for two new Airbus A220-300 aircraft with Cyprus Airways, the national airline of Cyprus. Both new A220 aircraft are confirmed to deliver to the airline this month from ALC’s order book with Airbus.

“ALC is pleased to announce this transaction for two Airbus A220 aircraft with our new customer, Cyprus Airways,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “As the first to introduce the A220 to the airline and the country of Cyprus, ALC looks forward to working with the Cyprus Airways team to develop and grow the flag carrier’s fleet with the most technologically advanced, fuel-efficient new aircraft.”

“We are thrilled to work with the ALC team on the first implementation of the A220 in the Cyprus Airways fleet,” said Paul Sies, Chief Executive Officer of Cyprus Airways. “Seen as a game changer in the industry, the A220 will provide a new experience to our guests and marks our commitment towards sustainability. The A220 offers the newest technology on the market and gives great savings in fuel burn and direct operating cost. We look forward to a long and mutual beneficial relationship with ALC and hope to work with them on the further development of our fleet plan in the 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)

Air Lease Corporation is a leading global 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 new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. The company routinely posts information that may be important to investors in the “Investors” section of its website at www.airleasecorp.com. Investors and potential investors are encouraged to consult Air Lease Corporation’s website regularly for important information. 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 Cyprus Airways

Cyprus Airways, the flag-carrier of Cyprus, resumed operations in 2016. The airline operates an all-Airbus A320 aircraft fleet which are currently operating on an eighteen-scheduled destination network. Winter destinations include Athens, Beirut, Tel Aviv, Yerevan, Paris, Rome, Dubai, Milan-Bergamo, Prague and Zurich. Additionally, summer destinations include Basel, Santorini, Skiathos, Rhodes, Heraklion and Cairo.

As mentioned above, the airline is in the process of upgrading its fleet with new more environmentally friendly aircraft that will offer up to 25% less CO2 emissions compared to previous generation aircraft, a lower noise footprint, and a totally new customer comfort standard.

Learn more at: www.cyprusairways.com

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