US company Air Lease Corporation (ALC) has signed a letter of intent to purchase 111 Airbus aircraft, the European plane-maker said in a statement on Monday.
The agreement is for 25 A220-300s, 55 A321neos, 20 A321XLRs, four A330neos and seven A350Fs.
The order will be finalized in the coming months and makes the Los Angeles-based ALC one of Airbus’ largest customers and lessor with the biggest A220 order book, Airbus said in a statement.
Founded in 2010, ALC has ordered a total of 496 Airbus aircraft so far.
ALC and Airbus are also launching a multi-million dollar ESG fund initiative that will contribute towards investment into sustainable aviation development projects, which will in the future be opened to multiple stakeholders from the aircraft leasing and financing community and beyond.
Steven F Udvar-Hazy, Executive Chairman of Air Lease Corporation, said the company was focusing this order on the most desirable and in-demand aircraft types, such as A220, A321neo, A330neo and A350 families.
“ALC is an international Market Leader in each of these categories of the most modern Airbus product lineup. These multi-year additions of new technology aircraft assets to ALC’s expanding portfolio will allow us to grow our revenues and profitability while satisfying our airline customer requirements,” he said.