February 28, 2013
Never let it be said that Air Lease Corp (NYSE: AL ) plays favorites. Earlier this month, the Los Angeles-based airplane leasing company placed orders for 25 new A350 XWB airliners from Boeing (NYSE: BA ) archrival Airbus. If that ruffled any feathers at fellow countryman Boeing, though, then Air Lease's latest move should put them back in place.
On Thursday, Air Lease placed an order for 10 of the Seattle planemaker's 777-300ER long-haul passenger jets, an order worth $3.2 billion at list prices. According to a press release describing the sale, the company has now orders outstanding for a total of 185 Boeing airplanes:
- 78 Next-Generation 737s;
- 80 of the even newer 737 MAXs;
- 12 of the now infamous 787 Dreamliners; and including today's order ...
- 15 777-300ERs.
The company says it also has "reconfirmation rights" to buy 20 more 737 MAXs. At present, the company's fleet consists of 155 planes:
- 58 Airbuses;
- 56 Boeings;
- 31 E175s and E190s from Embraer (NYSE: ERJ )
- 10 short-haul turboprop ATR 72-600s from the French-Italian firm ATR
Some of these planes are 767s -- which clarifies that the "185" Boeing planes must be planes on order only, and not a combination of orders plus planes already in the fleet.
More Expert Advice from The Motley Fool
With great opportunity comes great responsibility. For Boeing, which operates as a major player in a multi-trillion dollar market, the opportunity is absolutely massive. However, the company's execution problems and emerging competitors have investors wondering whether Boeing will live up to its shareholder responsibilities. In this premium research report
, two of The Fool's best industrial industry minds have collaborated to provide investors with the key, must know issues around Boeing. They'll be updating the report as key news hits, so make sure to claim a copy today by clicking here now