Commitments and Contingencies

9 Months Ended

Sep. 30, 2017

Note 5.Commitments and Contingencies

As of September 30, 2017 and through November 9, 2017, the Company had commitments to acquire a total of 372 new aircraft scheduled to deliver through 2023 as follows:


Aircraft Type	2017	2018	2019	2020	2021	Thereafter	Total
Airbus A321-200	—	2	—	—	—	—	2
Airbus A320/321neo(1)	2	18	32	26	22	44	144
Airbus A330-900neo	—	7	5	5	5	5	27
Airbus A350-900/1000	2	4	2	7	9	—	24
Boeing 737-7/8/9 MAX	2	12	27	27	35	27	130
Boeing 787-9/10	2	7	12	9	7	8	45
Total(2)	8	50	78	74	78	84	372

(1)

Our Airbus A320/321neo aircraft orders include 55 long-range variants.

(2)

In addition to the aircraft from our orderbook, we have commitments to purchase five used Boeing 737-800 aircraft from an airline which are scheduled for delivery in 2017.

Airbus has informed us to expect several month delivery delays relating to aircraft scheduled for delivery in 2017 and 2018. The delays have been reflected in our commitment schedules above. Our leases contain lessee cancellation clauses related to aircraft delivery delays, typically for aircraft delays greater than one year. Our purchase agreements contain similar clauses. As of November 9, 2017, none of our lease contracts are subject to cancellation.

Commitments for the acquisition of these aircraft and other equipment at an estimated aggregate purchase price (including adjustments for inflation) of approximately $28.1 billion at September 30, 2017 and through November 9, 2017 are as follows (in thousands):


Years ending December 31,

2017	$	998,592
2018		4,444,854
2019		5,732,940
2020		5,989,309
2021		5,859,304
Thereafter		5,063,064
Total	$	28,088,063

We have made non-refundable deposits on the aircraft for which we have commitments to purchase of $1.6 billion and $1.3 billion as of September 30, 2017 and December 31, 2016, respectively, which are subject to manufacturer performance commitments. If we are unable to satisfy our purchase commitments, we may forfeit our deposits. Further, we would be subject to breach of contract claims by our lessees and manufacturers.

As of September 30, 2017, the Company had a non-binding commitment to acquire up to five A350-1000 aircraft. Deliveries of these aircraft are scheduled to commence in 2023 and continue through 2024.