Air Lease Corp. (ALC) delivered four newly built aircraft and secured lease agreements for five aircraft from three customers during the first quarter of 2018, the Los Angeles-based lessor said April 5.

ALC’s lease placements during the first quarter included two A320-200s for new Indian LCC IndiGo, set to be delivered in third-quarter 2018; two new A321-200s for Denver-based ultra-LCC Frontier Airlines, set for delivery in fourth-quarter 2018; and one new A320-200neo for Faroe Islands-based Atlantic Airways, set for delivery in March 2019.

ALC purchased and leased five used aircraft during the quarter, including two Airbus A320-200s, two Boeing 737-700s and one 737-800. ALC said most of its aircraft deliveries and incremental purchases were made in the last two weeks of March. The company did sell any aircraft during the quarter.

The delivered aircraft included two Boeing 737 MAX 8s, an Airbus A321neo and an A350-900. As of March 31, the company’s fleet comprised 253 owned and 49 managed aircraft.

The company recently finalized an order for eight more 737 MAX 8s, set to deliver beginning in 2020, adding to the 130 737 MAX orders ALC has already placed.  Four 737 MAXs have been delivered by Boeing to ALC so far, with a fifth due in May. “These aircraft perfectly fit ALC’s and our airline lessees’ growing need for additional 737 MAX 8 aircraft,” ALC EVP John Poerschke said. “Our MAX placements to date speaks to the strong market demand for these aircraft.”

Mark Nensel