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  • Joe Breitfeller

Air Lease Corporation Places Two Airbus A220-300s on Lease With Cyprus Airways

Air Lease Corporation has today announced the placement of two Airbus A220-300s with Cyprus Airways, the national airline of Cyprus. Both aircraft will be delivered this month from ALC’s orderbook with Airbus.

Airbus A220-300 Rendered in ALC Livery - Courtesy Airbus

On Tuesday (June 20, 2023), from the Paris Air Show, Air Lease Corporation (ALC) announced the placement of two Airbus A220-300s on lease with Cyprus Airways, the national airline of Cyprus. Both aircraft will be delivered this month from ALC’s existing orderbook with Airbus. Cyprus Airways operates flights to Europe and the Middle East with a team of over 100 passionate employees based at Larnaca International Airport. All Cyprus Airways flights are currently operated with a 180-seat Airbus A320.

In Today’s announcement, Air Lease Corporation’s Executive Chairman, Steven Udvar-Házy, said,

“ALC is pleased to announce this transaction for two Airbus A220 aircraft with our new customer, Cyprus Airways. 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.”

Also commenting on the A220-300 lease agreements, Cyprus Airways’ CEO, Paul Sies, said,

“We are thrilled to work with the ALC team on the first implementation of the A220 in the Cyprus Airways fleet. 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.”

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 Corporation, Cyprus Airways

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