Condor’s lease request includes 17 Airbus A321neo aircraft and two A320neo aircraft.
Air Lease Corporation, an aircraft leasing company has announced to have received a long-term lease placement for 19 new Airbus aircraft from Condor, a German charter airline. The lease request includes 17 Airbus A321neo aircraft and two A320neo aircraft. The deliveries of the new aircraft to the airline are scheduled to begin in early 2024 and will go up to mid-2027 as mentioned in Air Lease Corporation’s order book with Airbus. ALC currently leases five aircraft to Condor, which includes three Airbus A321s and two A320s.
“This significant lease placement for 19 Airbus new generation aircraft continues ALC’s excellent relationship with Condor, one of our key German airline customers,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “The A321neo and A320neo are fundamental to Condor’s fleet operations and to maintain the airline’s highly competitive position in the European market,” he further added.
The A321neo provides minimum change with maximum benefit through the availability of two advanced engine choices – CFM International’s LEAP-1A and Pratt & Whitney’s PurePower PW1100G-JM geared turbofan, along with Airbus’ fuel-saving Sharklet wingtip devices. Together, they bring per-seat fuel improvements of 20%, along with an additional range of up to 500 nm or two tonnes of extra payload.
“These 19 new Airbus aircraft will provide enhancements to Condor’s customer products as the airline continues to add the most modern, fuel-efficient aircraft to their expanding fleet and offer the highest quality service,” added Lauren Kervick, Assistant Vice President of Air Lease Corporation.
Air Lease Corporation purchases new commercial aircraft through direct orders for jets from Boeing, Airbus, Embraer and ATR, and leases them to its airline customers worldwide through specialized aircraft leasing and financing. At the end of 2017, Air Lease reported that the company owns 244 Airbus, Boeing, Embraer, and ATR aircraft, which it leases to over 91 airlines across 55 countries in every major geographical region in the world. Air Lease provides airlines with net operating leases, which require the lessee to pay for maintenance, insurance, taxes and all other aircraft operating expenses during the lease term.
“We are looking forward to continuing our partnership with ALC in the future. We are thankful for this collaboration as it supports Condor in reaching its next milestones,” says Ralf Teckentrup, CEO of Condor. “With the replacement of our entire long-haul fleet, it‘s the obvious next step for us to modernize our short/medium-haul fleet as well. We consistently focus on modern technology, maximum efficiency and the highest customer comfort and as a result, will have one of the greenest fleets in Europe,” he added further.
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Every year, Condor serves more than nine million guests from the nine largest airports in Germany, from Zurich in Switzerland and Vienna in Austria to around 90 destinations in Europe, Africa and America. Condor operates a fleet of over 50 aircraft, which are maintained by the company’s own maintenance operation, Condor Technik GmbH, according to the highest safety standards at the Frankfurt and Dusseldorf locations.
