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Air Lease (AL) Delivers a Boeing 737-9 Jet to Alaska Airlines

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Air Lease Corporation (AL - Free Report) announced the delivery of a new Boeing 737-9 aircraft on long-term lease to Alaska Airlines, a subsidiary of Alaska Air Group (ALK - Free Report) . This is the first of the 13 new 737-9 aircraft to be delivered to the airline as part of an agreement announced in November 2020 from Air Lease’s order book with The Boeing Company (BA - Free Report) .

Air Lease carries a Zacks Rank #4 (Sell).

While Alaska Air carries a Zacks Rank #3 (Hold), Boeing carries a Zacks Rank #2 (Buy).

Alaska Airlines already has six Boeing 737-9 jets currently flying in its fleet. Featuring CFM International LEAP -1B engines, these jets are fuel efficient. The delivery of this new aircraft advances the carrier’s fleet-growth plans to cater to the recovery in air-travel demand. Last month, Alaska Airlines accelerated its fleet growth by exercising options on 12 Boeing 737-9 aircraft earlier than planned. The aircraft are expected to be delivered between 2023 and 2024.

Last December, Alaska Airlines had announced a restructured agreement with Boeing to acquire 68 737-9 aircraft between 2021 and 2024, including options for 52 aircraft to be delivered between 2023 and 2026. Earlier this May, the carrier had exercised options for 13 aircraft.

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