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Air Lease Corporation Announces Delivery of New Airbus A321-200neo LR Aircraft to SAS Scandinavian Airlines System
[October 15, 2020]

Air Lease Corporation Announces Delivery of New Airbus A321-200neo LR Aircraft to SAS Scandinavian Airlines System


Air Lease Corporation (NYSE: AL) announced today the delivery of one new Airbus A321-200neo LR aircraft on long-term lease to SAS (News - Alert). Powered by CFM International LEAP-1A33 engines, this aircraft is the first of three A321-200neo LRs confirmed to deliver to the Scandinavian airline from ALC's order book with Airbus. The other two A321-200neo LR aircraft are scheduled to deliver to the airline in 2021.

"ALC is pleased to announce this first A321-200neo LR delivery to SAS today and introduce the A321neo LR to the airline," said Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. "The A321neo LR from ALC will allow SAS to commence non-stop transatlantic flights from Copenhagen and other cities in Scandinavia to the U.S. and Canada, further enhancing SAS' overall operations and commitment to maintain a highly competitive, fuel-efficient fleet."

"This is a new aircraft type for SAS and it is well-suited to the Scandinavian market travel patterns. SAS' ongoing fleet renewal, including new long-haul aircraft such as the A321neo LR, is an investment towards more comfortable travel and sustainable aviation," said Niklas Hårdänge, Vice President Fleet Management of SAS. "Reducing the carbon footprint in the airline industry is crucial and SAS aims to lead the way. We have set a target of reducing carbon dioxide emissions by 25% by 2025."

In addition to this new A321-200neo LR, SAS currently has two Airbus A320-200neo aircraft on long-term lease from ALC which delivered in 2020. With the two new A321-200neo LRs scheduled to eliver in 2021, the airline will have a total of five aircraft on lease from ALC next year.



Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.


About Air Lease Corporation (NYSE: AL)

ALC is a leading aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. ALC and its team of dedicated and experienced professionals are principally engaged in purchasing commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. ALC routinely posts information that may be important to investors in the "Investors" section of ALC's website at www.airleasecorp.com. Investors and potential investors are encouraged to consult the ALC website regularly for important information about ALC. The information contained on, or that may be accessed through, ALC's website is not incorporated by reference into, and is not a part of, this press release.

About SAS

SAS carries more than 30 million passengers annually and is Scandinavia's leading airline with close to 800 daily flights on 272 routes to 123 destinations in Scandinavia, Europe, USA and Asia. SAS is a member of Star Alliance™ and can together with its partner airlines offer more than 18,400 daily flights to 1,300 destinations around the world in over 190 countries. SAS is listed at the stock exchanges in Stockholm, Copenhagen and Oslo. For more information, visit www.sasgroup.net.


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