AerCap Holdings N.V. (“AerCap”) (NYSE: AER) and Primera Air today announced the signing of a lease agreement for two Airbus A321LR aircraft. The agreement was sealed at a signing ceremony during the Paris Air Show. The deal signifies ‘firsts’ for both companies, as this is the first aircraft of its type ordered by AerCap and the first A321LR for Primera Air. The aircraft will deliver in the fourth quarter of 2018.

AerCap is the world's largest Airbus A320neo Family lessor, with 220 aircraft owned and on order.

Speaking at the signing ceremony, AerCap President and Chief Commercial Officer Philip Scruggs said, “We are delighted to partner with Primera on the lease of our first two A321LRs. The A321LR airplane boasts the longest range of any in-production, single-aisle jetliner. It opens up new destinations and new markets to airlines that operate the aircraft. We look forward to working with Primera Air on this project, and we wish the team every success with their fleet renewal program.”

Primera Air President and CEO Andri M. Ingolfsson said, “Primera Air is very happy to sign the first Airbus321LR aircraft that will come into operation, and very pleased to extend the long and solid cooperation we have had with AerCap. The new Airbus 321LR will be a game changer in the industry and will enable Primera Air to be the first airline to open up new long haul routes, previously only viable with wide body aircraft, but with superior economics. This will bring the fleet of Primera Air of new Airbus321Neo aircraft to 8, of which all will be delivered in 2018. This is the biggest shift in the airline industry for last 20 years, where long haul routes now will become accessible at prices the industry will not have seen before.”