LOS ANGELES, California, September 30, 2021 – Air Lease Corporation (NYSE: AL) announced today that ITA, the new national airline of Italy, has agreed to lease 31 new ALC aircraft consisting of 15 A220s, two A320neos, nine A321neos and five A330-900neos on long-term lease from ALC’s orderbook with Airbus.  The 31 aircraft will deliver to the airline progressively beginning in the second half of 2022 through early 2025.

In addition to these 31 ALC Airbus aircraft, ITA has signed a Memorandum of Understanding with Airbus for the purchase of 28 new aircraft: 10 Airbus A330neo aircraft for long-haul flights, seven Airbus A220 family regional jets and 11 Airbus A320neo family aircraft (deliveries for the latter to start after the completion of the business plan).

Overall, ITA will lease a total of 56 new Airbus aircraft over the course of the plan (13 long-haul jets, including the ultra-modern Airbus A350-900, and 43 short and medium-haul aircraft).

“Air Lease Corporation is pleased and proud to be the launch Lessor for ITA to supply the new airline 31 new Airbus jet aircraft, including the most modern A220 and A320/321neo family jets, as well the latest environmentally friendly widebody aircraft on long-term operating leases from ALC’s orderbook.  These transactions will allow ITA to operate the most technologically advanced new aircraft to cover ITA’s European and Intercontinental route network with great efficiency,” said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation.  “We look forward to a long-term successful partnership,” he said.

The Executive Chairman of ITA, Alfredo Altavilla, said: “The strategic partnership with Airbus and ALC is crucial for ITA to jumpstart our Business Plan aiming at achieving our targets of a new environmental-friendly fleet with significantly lower operating and leasing costs.  I want to thank both Christian Scherer, CCO of Airbus, and Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation, for their trust in the future of our brand-new airline.”

“ITA has done a thorough clean sheet aircraft evaluation and has chosen Airbus across all segments.  This is very gratifying and a testimony of the great value of the Airbus product range.  It sets a benchmark in driving the decarbonization and efficiency agenda.  From the start, we have been working closely with ITA, listening carefully to their requirements.  Today we are proud and grateful to be alongside ITA in building its future together.  Grazie Mille!" said Christian Scherer, Airbus Chief Commercial Officer and Head of Airbus International.