On Wednesday, Air Lease Corporation announced the long-term lease placements for three new Airbus A321neo aircraft with LATAM Airlines Group. Currently, LATAM is in the midst of renewing its narrowbody fleet as it looks beyond its Chapter 11 bankruptcy process, which is expected to end during the second half of 2022. Let’s find out more.
LATAM’s incoming aircraft
LATAM Airlines Group is set to receive new Airbus A321neo aircraft, leased directly with Air Lease Corporation.
Today, the leasing company announced the long-term lease placements for these three new jetliners. The aircraft are scheduled to be delivered to LATAM in the summer and fall of 2023.
Steven Udvar-Házy, Executive Chairman of Air Lease Corporation, said,
“We are pleased to announce the long-term leases of three new Airbus A321neo aircraft to the largest airline in South America: LATAM Airlines. This is another important step in LATAM’s fleet modernization and network strategy optimization.”
According to data provided by ch-aviation, these airplanes will be the first LATAM leases from Air Lease Corporation. Currently, Air Lease Corporation manages 946 aircraft, allocated with 126 carriers worldwide.
LATAM currently has a fleet of 299 aircraft. Photo: Airbus.
Air Lease Corporation order with Airbus
As stated before, these three Airbus A321neos will come directly from Air Lease Corporation’s order book with Airbus. The leasing company is one of Airbus’ main customers worldwide.
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According to Airbus’ Order & Deliveries database, Air Lease Corporation ordered 500 aircraft. The leasing company has received 206 aircraft so far. More than half of its order is for Airbus A321neo jetliners (259 aircraft, of which it has received 77).
Nonetheless, Air Lease Corporation also has orders for 75 Airbus A220 aircraft (seven A220-100s and 68 A220-300s); 30 Airbus A320ceos (all of them already received); 30 Airbus A320neos; 29 A321ceos (all of them received); ten A330-200s and six A330-300s (all of them received); 28 A330-900s; seven A350F, the latest Airbus aircraft; 18 A350-900s, and eight A350-100s.
LATAM expects to receive over 70 aircraft in the next few years, including several Boeing 787 Dreamliners. Photo: LATAM.
LATAM’s fleet plans
Currently, the South American carrier expects to receive 70 new Airbus aircraft (from the A320neo family) and two Boeing 787-9 units in the next seven years. These planes are being delivered between 2022 and 2028, as the carrier announced in its 2021 fourth-quarter financial results.
Last year, LATAM agreed to purchase 28 new A320neo aircraft, expanding its previous order for 42 narrowbody planes. At that time, Roberto Alvo, CEO of LATAM Airlines Group, said,
“The purchase of these highly efficient aircraft is a sign of our commitment to the transformation towards a carbon-neutral LATAM in 2050. At the same time, these 70 aircraft reinforce the connectivity scale of the region.”
Additionally, to these direct orders with Airbus and Boeing, the group has signed several contracts with lessors to receive three Boeing 787 aircraft in 2022 and eight Airbus A320 family aircraft in 2023. Nonetheless, these three leased aircraft with Air Lease Corporation are new additions as well.
Finally, LATAM is also investing in the growth of its cargo-dedicated fleet. The airline is converting ten Boeing 767 passenger aircraft to cargo freighters by the end of 2023. Two freighters have already been converted, and two additional cargo freighter deliveries are scheduled for this year’s second and third quarters. The remaining conversions would take place next year.
As of March 31, 2022, LATAM had a fleet composed of 299 aircraft, including 285 passenger jetliners, 13 cargo units, and one subleased plane.
What do you think about this latest fleet announcement? Let us know in the comments below.
Source: ch-aviation.
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