AerCap Holdings N.V. (NYSE: AER), the world’s leading aviation lessor, has announced a new lease agreement with Azerbaijan Airlines (AZAL), welcoming the airline as a new customer. The agreement, signed on October 2, 2024, will see AZAL lease six new, fuel-efficient Airbus CFM LEAP-powered aircraft. The delivery, scheduled for 2026, includes three Airbus A320neo and three Airbus A321neo aircraft, bolstering AZAL’s fleet modernization and network expansion plans.
The lease agreements were formalized by Samir Rzayev, President of Azerbaijan Airlines CJSC, and Peter Anderson, Chief Commercial Officer of AerCap, marking a significant step for both companies.
Peter Anderson of AerCap stated, “AerCap is thrilled to welcome AZAL as a new customer and support their ongoing fleet and network expansion. The Airbus A320neo and A321neo are highly sought-after aircraft globally, and they will enable AZAL to reach more destinations and customers, while also advancing their commitment to a modern fleet featuring the most technologically advanced and fuel-efficient aircraft available. We wish the AZAL team success in their expansion and anticipate a long and prosperous partnership.”
Samir Rzayev, AZAL President, commented on the agreement’s strategic importance: “The addition of these six aircraft leases is a significant step in our fleet replacement strategy, particularly with the popular Airbus A321neo. These aircraft are crucial for meeting the evolving needs of our passengers, offering enhanced comfort and convenience, and supporting the growth of our route network. Our goal is to create better travel opportunities and meet customer expectations by expanding to new destinations and improving service quality. Furthermore, this agreement with a major player like AerCap underscores AZAL’s strong standing in the international aviation market.”
About AerCap
AerCap stands as the global leader in aviation leasing, managing a vast portfolio and boasting one of the industry’s most attractive order books. Providing comprehensive fleet solutions, AerCap serves approximately 300 clients worldwide. Listed on the New York Stock Exchange (AER), AerCap is headquartered in Dublin, and maintains a global presence with offices in Shannon, Miami, Singapore, Memphis, Amsterdam, Shanghai, Dubai, Seattle, Toulouse, and other strategic locations.
