Aerolease converts LOI to firm order

Juliette O'Neill
By Juliette O'Neill September 1, 2016 08:57

Aerolease converts LOI to firm order

Mitsubishi Aircraft Corporation and Aerolease Aviation, based in Miami, have signed a Letter of Intent (LOI) for an order of ten firm MRJ90 aircraft with an option to an additional ten MRJ90 aircraft. Based on this LOI, both companies will move forward to conclude a definitive agreement in the near future. Aerolease is the launch lessor in MRJ program to select the MRJ. Deliveries to Aerolease are scheduled to commence in 2018.

Jep Thornton, Partner, Aerolease Aviation said: “The accumulated experiences in aircraft manufacturing and strong financial background of the Mitsubishi group are great value to us. Moreover, we are extremely impressed with the MRJ’s state-of-the-art aerodynamic design, Pratt & Whitney’s game-changing GTF engine and the state of the art avionics suite from Rockwell Collins, which will make the MRJ the superior aircraft to its competitors. These factors encouraged us to move forward to select the MRJ for our portfolio. Aerolease is committed to cooperate with Mitsubishi Aircraft as an MRJ partner to promote MRJ in regional jet market and to expand its global customer base.”

“This launch lessor order from Aerolease has a significant importance for the MRJ program,” said Hiromichi Morimoto, President, Mitsubishi Aircraft Corporation. “We recognize the significantly important role which aircraft lessors have been playing in the aviation industry. We are proud to add a lessor partner to our order book at this very early stage of the MRJ program. We firmly believe that the asset value of the MRJ has been recognized in the aircraft finance market. This LOI will not only bring a positive impact on the lessor community, but will also contribute to expanding our airline customer base.”

Thus far, 407 MRJ aircraft are on order and 20 will be added to its order book when Mitsubishi Aircraft signs a definitive agreement with Aerolease Aviation. The total of 427 MRJ aircraft include 233 firm orders with 170 options and 24 purchase rights.

MRJ

Juliette O'Neill
By Juliette O'Neill September 1, 2016 08:57