LOS ANGELES, California, February 14, 2022 – Today Air Lease Corporation (NYSE: AL) announced long-term lease placements for 25 new Boeing 737-8 aircraft with Malaysia Aviation Group (MAG), parent company of Malaysia Airlines Berhad (MAB). The aircraft are scheduled to deliver to the airline starting in early 2023 through the beginning of 2026 from ALC’s orderbook with Boeing.
“ALC is pleased to announce this significant deal for 25 new 737-8 aircraft with MAG,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “These 25 new Boeing aircraft will help grow Malaysia Airlines’ expanding route network and improve operations and the efficiency of the airline’s fleet.”
Izham Ismail, Group Chief Executive Officer of MAG said: “After a detailed tender process in the last quarter, we are pleased to appoint ALC as the aircraft lessor for our Boeing 737-8 fleet. This exercise is tied to the restructured terms of our existing orderbook with Boeing. We are happy to have in ALC, a partner who is committed to be part of our future endeavors as outlined in our Long-Term Business Plan 2.0 (‘LTBP2.0’). The 737-8 is key to LTBP2.0 with its superior product offerings and better fleet performance which includes amongst others, improved fuel efficiencies of up to 15%. This aligns well with our sustainability journey, whilst also enabling MAB with greater flexibility and agility to implement our future network strategies.”
In addition to these 25 Boeing aircraft, Malaysia Airlines currently has six Airbus A350-900 aircraft on long-term lease from ALC.