Air Lease Corporation signs lease agreements with TAP Portugal for five Airbus aircraft


Air Lease Corporation (ALC) has signed long-term lease agreements with TAP Portugal for four new Airbus A330-900neo and one new A320-200neo aircraft.

The A330neo airplanes are equipped with next-generation Rolls-Royce Trent 7000 engines, while the A320neo plane has the latest CFM LEAP1A engine.

All the five airplanes, which are from ALC’s order book with aircraft manufacturer Airbus, will be delivered between Q4 2018 and Q3 2019.

"ALC has been an important partner for TAP and we look forward to working together to realise TAP’s long-term fleet needs.”

ALC executive chairman Steven F. Udvar-Házy said: "These five new-technology aircraft on lease from ALC will modernise the airline’s fleet and help develop its growing network in Europe and across the North and South Atlantic and to Africa.”

TAP Portugal CEO Fernando Pinto said: “TAP is in the process of a major fleet transformation that simultaneously improves its cost-competitiveness, as well as the quality of the product. This agreement with ALC represents a fundamental step in this transformation.

"TAP is the launch airline customer for the A330-900neo, and these four aircraft represent a substantial commitment to reinvesting in the airline’s wide-body fleet. Similarly, the A320neo will be the cornerstone of TAP’s reinvestment in next-generation narrow-body aircraft. ALC has been an important partner for TAP and we look forward to working together to realise TAP’s long-term fleet needs.”

ALC is an aircraft leasing company based in Los Angeles, California, US, while flag carrier airline TAP Portugal is based at Lisbon Airport.

TAP is a member of the Star Alliance and operates an average of 2,500 flights in a week to 81 destinations in 34 countries.

It has a fleet of 77 aircraft, of which 61 have been manufactured by Airbus.