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.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Embraer-Empresa Brasileira. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.