Air Lease Corporation Announces Lease Placement for Two New Airbus A220 Aircraft with Cyprus Airways

LE BOURGET, France -- Today Air Lease Corporation (NYSE: AL) announced long-term lease placements for two new Airbus A220-300 aircraft with Cyprus Airways, the national airline of Cyprus. Both new A220 aircraft are confirmed to deliver to the airline this month from ALC’s order book with Airbus.

“ALC is pleased to announce this transaction for two Airbus A220 aircraft with our new customer, Cyprus Airways,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “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.”

“We are thrilled to work with the ALC team on the first implementation of the A220 in the Cyprus Airways fleet,” said Paul Sies, Chief Executive Officer of Cyprus Airways. “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.”