Air Lease places Boeing 737 aircraft with LOT Polish Airlines

Air Lease Corporation (NYSE: AL) has placed six new 737 MAX 8s with CFM Leap-1B engines on long-term lease to LOT Polish Airlines, the company said.

The agreement includes the option to lease five new 737 MAX 8s, to be confirmed by early 2017. All 11 aircraft are from ALC´s order book with Boeing.

Delivery of the first two firmly contracted aircraft will begin in the fourth quarter of 2017, the next two in 2018, one in 2019, and the sixth aircraft will deliver in or before the first quarter of 2020. The optioned aircraft are expected to deliver in 2019 and 2020.

The airline said the new 737 MAX 8 aircraft will be used to increase frequencies and add new destinations on LOT´s European and Eurasian route network.

Air Lease Corporation is an aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC is engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide.

LOT Polish Airlines is a modern airline that connects Central and Eastern Europe with the world. It provides nearly five million passengers a year with travel options to almost 60 destinations worldwide via Warsaw.