Aviation Capital Group LLC (“ACG”) announced the acquisition of a portfolio of Airbus A320neo aircraft from funds managed by Air Lease Corporation (“ALC”). The portfolio comprises five aircraft, each of which is on lease to Spirit Airlines. The acquisition of these aircraft, which are powered by the ultra-efficient Pratt & Whitney GTF engines, complements ACG’s deliveries to Spirit Airlines from ACG’s orderbook with Airbus.

“We are pleased to announce this sale to ACG of five Airbus A320neo aircraft owned by funds that are exclusively managed by ALC,” said David Beker, Senior Vice President, Marketing and Head of Aircraft Sales & Trading of Air Lease Corporation. “We appreciate the close collaboration with the ACG team who worked effectively and efficiently to complete this transaction which was important to our investors.”

Rob Downes, SVP and Head of Aircraft Trading at ACG, commented, “We are delighted to close our first transaction with the ALC team, and equally delighted to further expand our strong relationship with a key customer in Spirit Airlines.”