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Air Lease (AL) Delivers One A320-200neo to Japan-Based Airline

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Air Lease Corporation (AL - Free Report) announced the delivery of a new Airbus A320-200neo aircraft on long-term lease to Peach Aviation Limited of Japan. It is the first of two new A320-200neo jets to be delivered this month from Air Lease's order book with Airbus. This modern and fuel efficient aircraft consists of CFM International LEAP-1A engines.

In addition to these two A320-200neos carriers, two more new A321-200neo jets are expected to get delivered from Air Lease’s order book in 2021 and 2022. Air Lease’s contribution to Peach's growing all-Airbus A320 fleet will significantly boost its airline’s operations in domestic and international front.

Air Lease also announced the inking of a long-term lease agreement with Pegasus Airlines (Turkey) pertaining to a new Airbus A321-200neo aircraft.  The aircraft is scheduled to be delivered in Spring 2023 from Air Lease’s order book. This fleet growth is anticipated to boost the company’s top line.

Zacks Rank & Stocks to Consider

Air Lease currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , Landstar System, Inc. (LSTR - Free Report) and Herc Holdings Inc. (HRI - Free Report) . Landstar and Knight-Swift carry a Zacks Rank #2 (Buy), while Herc Holdings sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, Landstar and Herc Holdings is pegged at 15%, 12% and 12.6%, respectively.

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