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Air Lease Corporation Places Four New Airbus A321XLRs With Air Transat

Air Lease Corporation has today announced the long-term lease placement of four Airbus A321XLR Aircraft with Air Transat. Three of the aircraft will be delivered at the end of 2025 through 2026, while the fourth, an option, is scheduled to be delivered in 2027.

Air Transat Airbus A321LR - Courtesy Airbus

On Thursday (September 8, 2022), Air Lease Corporation (ALC) announced the long-term lease placement of four Airbus A321XLR (Xtra-Long-Range) aircraft with Air Transat. The first three aircraft will be delivered from the end of 2025 through 2026, while the fourth, and option, will be delivered in 2027 if exercised. The aircraft will be delivered from ALC’s current orderbook with Airbus.

In Thursday’s announcment, Air Lease Corporation’s Executive Chairman, Steven Udvar-Házy, said,

“ALC is pleased to announce this lease placement for four new A321XLRs with Air Transat and be the first to introduce the XLR to the Canadian airline. The A321XLR will bring new levels of comfort and excellent service to Air Transat’s passengers, while providing significant enhancements to the airline’s operational efficiency.”

Also commenting on the lease placements, Transat’s President and Chief Executive Officer, Annick Guérard, said,

“Air Transat's new leasing agreement with our long-trusted partner ALC represents another key milestone in the renewal and simplification of our fleet undertaken since 2017. Along with A321LRs, XLRs figure as a cornerstone of Transat's 2022-2026 strategic plan. These aircraft can improve the quality of our transatlantic program by increasing the number of frequencies per week with the same capacity, representing a more attractive offer for our customers. Adding these three new XLRs to our fleet - with a fourth optional one - will allow us greater operational flexibility as this type of aircraft is very well suited to our needs across our programs annually.”

Montreal-based Transat A.T. Inc. (TSX: TRZ), the parent company of Air Transat, was founded over 35 years ago. The company has 5,000 employees and is the third largest airline in Canada, as well as the leading integrated tourism company. Transat offers vacation packages, hotel accommodations and air service to more than 60 destinations in over 25 countries in the Americas and Europe. Air Transat has been voted the ‘World’s Best Leisure Airline’ at the Skytrax World Airline Awards. The carrier is currently renewing their fleet with the most fuel-efficient and environmentally aircraft in their class, as part of Air Transat’s commitment to a healthier environment, knowing that this is essential for the preservation of the magnificent destinations they serve.

Based in Los Angeles, California, Air Lease Corporation (NYSE: AL) is a leading global aircraft leasing company. The ALC team is principally involved in the purchase of commercial aircraft and leasing them to airlines worldwide with customized leasing and financing solutions.

Source(s): Air Lease Corporration, Transat A.T. Inc.


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