US-based Air Lease Corporation (ALC) is set to order 111 Airbus aircraft in an order to be finalised in the coming months, and has jointly launched an environmental, social governance (ESG) fund with the manufacturer.

After discussions at Dubai Airshow 2021 yesterday (Monday), Airbus announced that ALC had signed a letter of intent to order 25 A220-300s, 55 A321neos, 20 A321XLRs, four A330neos and seven A350Fs.

With the new order, ALC, which was founded in 2010 in Los Angeles, has ordered 496 Airbus aircraft to date.

“With this major order, we underscore our confidence not only in the strong future and growth of global commercial air transport, but in ALC’s business model, in our specific aircraft purchase decisions including, for the first time, the new A350 Freighter, and finally in our long term view that ordering new aircraft is an optimum investment of our shareholder capital,” said John Plueger, Air Lease Corporation CEO and president.

“Moreover, we and Airbus hereby announce the first ever joint ESG initiative in aircraft procurement by creating a multi-million dollar fund for sustainable aviation development projects critical to the future.”

Christian Scherer, Airbus chief commercial officer and head of Airbus International, said: “This is a major announcement for Airbus in 2021. ALC’s order signals we’re moving beyond the Covid doldrums.”

(Writing by Imogen Lillywhite; editing by Seban Scaria)

(imogen.lillywhite@refinitiv.com) 

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© ZAWYA 2021