New Leasing Group Fans Airliner Sales Activity
Airliner leasing pioneer Steven Udvar-Hazy is back in business with a vengeance.
Airliner leasing pioneer Steven Udvar-Hazy (second from left) has declared his serious intent to revitalize the sector by placing some $10 billion worth of new aircraft orders at last month's Farnborough airshow. (Photo: David McIntosh)
Airliner leasing pioneer Steven Udvar-Hazy (second from left) has declared his serious intent to revitalize the sector by placing some $10 billion worth of new aircraft orders at last month's Farnborough airshow. (Photo: David McIntosh)

Airliner leasing pioneer Steven Udvar-Hazy is back in business with a vengeance. Barely six months after leaving the ILFC group that he founded back in 1973, following a failed bid to take control of a stake in the company from its troubled AIG parent, Udvar-Hazy's new Air Lease venture gave the industry a welcome shot in the arm by ordering about $10 billion worth of aircraft at July's Farnborough International Airshow. As part of a plan to build its start-up portfolio to 100 to 120 aircraft by mid-2011, Air Lease, which has raised an initial $3 billion in launch capital, ordered a mix of 51 Airbus A320s and A321s, plus up to 60 Boeing 737-800s, up to 20 Embraer 190s and 10 ATR2-600s.