LOS ANGELES, Feb. 23, 2017 (GLOBE NEWSWIRE) — Today Air Lease Corporation (NYSE:AL) announced a long term lease agreement with Air New Zealand (NZX:AIR) (ASX:AIZ) for one new Boeing 787-9 aircraft. The aircraft is from ALC’s order book with Boeing and is scheduled for delivery in Q3 2018.

“Air New Zealand is one of ALC’s first and longtime cornerstone airline customers. The relationship between Air New Zealand and ALC’s management dates back to transactions involving Lockheed Electras, so we are proud to be part of the evolution of Air New Zealand’s fleet by leasing them a new 787-9,” said Grant Levy, Executive Vice President of Air Lease Corporation.

ALC currently has Airbus A320s and Boeing 777-300ERs on lease to Air New Zealand, with the five new A321neo and A320neo aircraft which start delivering later this year on long term leases.