Air Lease (AL) Delivers Its First Airbus to LATAM Airlines
Air Lease Corporation AL announced the delivery of one new Airbus A321-200neo aircraft to LATAM Airlines. It is the first of eight new Airbus A321s confirmed to deliver to the South American carrier from Air Lease's order book with Airbus.
Two A321-200neos are scheduled to deliver to the airline from Air Lease's order book in 2023 and 2024. The remaining five A321 XLRs are to be delivered in 2025 through 2026.
Steven Udvar-Házy, Executive Chairman of Air Lease Corporation stated, “ALC is pleased to announce our first A321-200neo delivery to LATAM Airlines today. With this new A321-200neo aircraft, LATAM adds to the airline’s fleet modernization program by obtaining the most advanced technology aircraft to optimize and grow the carrier’s expanding international route network”.
Air Lease’s contribution to South American carrier will significantly boost its operations in the domestic and the international front.
Besides this delivery to LATAM airlines, Air Lease also recently announced long-term lease contracts for 18 new Boeing 737-8 aircraft with EGYPTAIR. These new Boeing aircraft are confirmed to deliver to the airline beginning in 2025 through 2026 from Air Lease's order book with Boeing.
Zacks Rank & Stock to Consider
Air Lease currently carries a Zacks Rank #3 (Hold).
Investors interested in the broader Transportation sector may consider stocks like Air Canada ACDVF and SkyWest SKYW.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a new year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for current-year earnings has jumped 32.6% in the past 60 days.
SkyWest currently carries a Zacks Rank #2 (Buy). SKYW's fleet-modernization efforts are commendable. Initiatives to reward its shareholders also bode well. The Zacks Consensus Estimate for current-quarter earnings has surged 83.3% in the past 60 days.
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