Air Lease Corporation (ALC) has signed agreements for 20 additional aircraft to five airlines.

The upstart lessor, which was launched by industry veteran Steven Udvar-Hazy in 2010, has forged new agreements with Alitalia, SriLankan, Russia's S7, Chinese low-cost carrier Spring Airlines and Kenya Airways.

ALC's deal with Alitalia covers five Embraer E-175s and five E-190s, with each aircraft having a 12-year lease term. A leasing company spokeswoman said the 10 aircraft are part of an order Embraer finalised with Alitalia in March for 20 E-Jets for lease by third parties.

SriLankan has agreed to lease three new Airbus A320s from ALC, also under 12-year leases. One of the aircraft was delivered last month, while the remaining two will be delivered in October and November 2011, respectively.

Los Angeles-based ALC is also leasing three new A320s to Russian carrier S7 Airlines for eight years. The aircraft will be delivered in January, February, and May of next year.

ALC has also acquired an A320 that is now on lease to Chinese low-cost carrier Spring Airlines.

In addition, ALC announced that it has arranged eight-year leases with Kenya Airways for three new E-190AR aircraft. The first two aircraft will be delivered in August and September this year, while the third will be delivered in May 2012.

Florida-based lessor Jetscape has also placed a newly-acquired E-190AR with Kenya Airways. Jetscape had previously delivered a new E-190AR to the airline in December 2010. Both aircraft are leased on eight-year terms.

Source: Air Transport Intelligence news