UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
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| Item 1.01 | Entry into a Material Definitive Agreement |
On December 20, 2019, Air Lease Corporation (the “Company”), pursuant to its existing memorandums of understanding with Airbus Canada Limited Partnership (“Airbus Canada”) and Airbus S.A.S. (“Airbus”), entered into a definitive purchase agreement and related letter agreements (collectively, the “Purchase Agreement”) with Airbus Canada and an amendment and related letter agreements to its existing purchase agreement (collectively, the “Amendment”) with Airbus. Pursuant to the Purchase Agreement, the Company agreed to purchase 50 A220 aircraft and has purchase options for an additional 25 A220 aircraft. Pursuant to the Amendment, the Company agreed to purchase 25 A321neo aircraft and 27 A321neo XLR aircraft. Deliveries of the aircraft are scheduled to commence in 2021 and continue through 2026. Giving effect to the purchase commitments under the Purchase Agreement and the Amendment, as of September 30, 2019, the Company would have had an estimated aggregate commitment of $27.2 billion in total purchase commitments for new aircraft (excluding purchase options).
A copy of the Purchase Agreement and the Amendment will be filed as exhibits to the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2019.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AIR LEASE CORPORATION | ||||||
| Date: December 27, 2019 |
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| /s/ Gregory B. Willis | ||||||
| Gregory B. Willis | ||||||
| Executive Vice President and Chief Financial Officer |