Air Lease places 18 narrowbodies with China Southern

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Air Lease Corporation (ALC) has further increased its presence in the Republic of China with the placement of 18 new Airbus and Boeing aircraft with China Southern Airlines.

The operating lessor will deliver 12 new Boeing 737-800s, four Airbus A320s and two A321s through 2015. All aircraft have been placed for 12-year periods.

China Southern is already an ALC customer with two new A320s received on 12-year term leases during the second half of 2011.

"This 18 aircraft transaction with China Southern is ALC's largest single lease placement to date," said Jie Chen, Air Lease Corporation's executive vice president and managing director, Asia.

"ALC's ability to structure and complete large, multiple aircraft, complex operating lease transactions such as this $800 million deal with China Southern for 18 new Airbus and Boeing aircraft on a multiyear delivery stream, underscores ALC's global leadership, innovation and strong market presence," commented Steven Udvar-Házy, chairman and chief executive of Air Lease Corporation.

The placement follows the agreement for nine 737-800s and four A321-200s on 12-year leases with Air China last month.