On November 1st, Air Lease Corporation announced that it would place three Boeing 737-8 (MAX 8) airliners with the young startup airline Aeroitalia in accordance with a long-term lease agreement. The aircraft deliveries will begin in 2023, with the third and final delivery scheduled to take place in 2024. The airline expects the additional aircraft to significantly enhance its operational capacity, allowing it to further grow its network and services.

Lease agreement

The Los Angeles-based leasing company anticipates that the new 737-8s will be a great asset to its leasing operations and Aeroitalia’s flight operations. The Executive Chairman of Air Lease Corporation, Steven F. Udvar–Házy, shared,

“We are very pleased to announce this placement of three new Boeing 737-8 aircraft with Aeroitalia,”The capabilities of the Boeing 737-8 will greatly enhance Aeroitalia’s operational efficiency and expanding fleet with the most modern, fuel-efficient aircraft.”

Air Lease Boeing 737 MAX 8 in flight

Photo: Boeing

The CEO of Aeroitalia, Gaetano Intrieri, commented on the aircraft acquisition. Intrieri stated,

“With this lease agreement, we strengthen our business relations with ALC. We consider this deal a very important step for Aeroitalia in its plan for sustainable green growth and to support the Italian market. Our team is very proud of the support and trust we have received from ALC, one of the most important worldwide lessors. Let me give a special thanks to Mr. Hazy for believing in our project.”

Aircraft deliveries

Since the airline launched operations out of its hub at Forli Airport (FRL) in Northern Italy earlier this year, it has been operating charter and regularly scheduled flights. It has been using the Boeing 737-800 aircraft for these operations. The introduction of the new MAX aircraft will be a notable change for the airline compared to the older 737s it currently operates. The acquisition process for these aircraft will take longer than most as they must first be produced and delivered to the third-party leasing company, Air Lease Corporation before they can be delivered to the Italian airline.

Aeroitalia wingtip

Photo: Aeroitalia

It is unclear if the aircraft will be painted with Aeroitalia’s livery at Boeing’s facility before delivery to Air Lease corporation, as the Italian airline will be the intended recipient. The lessor may choose to have them delivered with a neutral livery in case any changes occur in leasing agreements between now and the time of delivery. The new aircraft will become notable assets to both companies regardless of the delivery process. For the lessor, the brand-new aircraft will be additional treasured assets. For the airline, the aircraft will significantly improve its operations.

The 737 MAX airplanes will greatly increase the startup’s capacity, allowing it to transport thousands of additional passengers every year and open routes to many additional destinations across the region. The fuel-efficient nature of the MAX compared to the older 737 models will allow the airline to burn less fuel per seat, allowing for greater range and lower operating costs. The added range opens many possible destinations unavailable to the 737-800. The reduced operating costs will lead to increased profit margins making room for increased profits needed to further expand the airline.

What do you think of this lease agreement? Let us know in the comments below.

Source: simpleflying.com

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