MEDIA RELEASE PR40468
Air Lease Corporation, the New Global Aviation Venture, Is Ready for Take-Off With
Substantial Financing and a Top-Flight Senior Management Team
LOS ANGELES, July 16 /PRNewswire-AsiaNet/ --
Air Lease Corporation (ALC), a new aircraft leasing company being
launched by industry pioneer Steven Udvar-Hazy and longtime aviation
executive John L. Plueger, has secured initial financing of $3.3 billion, and
aircraft acquisitions are already underway. Making the announcement were Mr.
Udvar-Hazy, Chairman and Chief Executive Officer of ALC, who co-founded and
led International Lease Finance Corporation (ILFC) for 37 years, and Mr.
Plueger, President and COO of ALC.
"We are gratified by the confidence investors have placed in our
management team through this process, and we are working tirelessly to
justify that confidence," said Mr. Udvar-Hazy.
Mr. Udvar-Hazy and Mr. Plueger have assembled a senior management team
who collectively share almost 200 years of industry experience and bring
longstanding relationships with leaders in the airline, aerospace
manufacturing and financial worlds, as well as legal expertise.
"ALC is committed to helping shape the future of the aviation industry,"
commented Mr. Udvar-Hazy, "and we believe this new venture provides many
wonderful opportunities for our airline clients, our business partners and
our investors. We look forward to working with the leading global airlines as
they modernize their fleets, to consulting with the OEMs as they develop the
next generation of fuel-efficient 'green' aircraft, and to continually
exploring strategic business solutions that enable our clients to grow and
thrive financially."
According to Mr. Plueger, to date ALC has raised approximately $1.3
billion of equity capital and approximately $2 billion of committed debt
financing. The company is already in the process of acquiring a portfolio of
aircraft and has lease commitments from a large group of diversified
airlines. By spring 2011, the fleet is expected to exceed more than 100
commercial jet aircraft.
Led by Mr. Udvar-Hazy, the management team includes John L. Plueger,
President and Chief Operating Officer; Grant A. Levy, Executive Vice
President, General Counsel and Secretary; Marc H. Baer, Executive Vice
President, Marketing; Alex A. Khatibi, Executive Vice President; Kishore
Korde, Senior Vice President; James C. Clarke, Senior Vice President and
Chief Financial Officer; John D. Poerschke, Senior Vice President of Aircraft
Specifications and Procurement; Robert McNitt, Senior Vice President, Legal;
Gregory B. Willis, Vice President, Finance and Chief Accounting Officer; and
Pierce Chang, Vice President. In addition, Emilio Romano will advise ALC as
Regional Director, Latin America.
FBR Capital Markets acted as placement agent/initial purchaser in the
company's equity private placement, and Moelis & Company acted as the
company's financial advisor. Gibson, Dunn & Crutcher LLP and Munger, Tolles &
Olson LLP acted as counsel to Air Lease in the equity raises.
SOURCE: Air Lease Corporation
CONTACT: Kay Lau & Associates,
+1-310-278-2200,
kay@kaylau.com,
for Air Lease Corporation
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