Benzinga | Oct 7, 2021 08:36AM EDT

AerCap Reports Signed Lease Deals With Spirit Air For 20 Airbus A320neo Family Aircraft

AerCap Holdings N.V. ("AerCap") (NYSE:AER) today announced that it has signed agreements with Spirit Airlines for the lease of 20 new Airbus A320neo Family aircraft. All twenty aircraft are scheduled to begin delivery in 2022 with deliveries continuing through 2023 and 2024.

"This is a significant transaction for AerCap with one of the most successful low-cost carriers in aviation. We are delighted to add 20 aircraft to our already substantial business with Spirit," said Aengus Kelly, CEO of AerCap. "The Airbus A320neo Family will help Spirit grow their fleet in an economical way while advancing its commitment to maintain a highly competitive, fuel-efficient fleet of aircraft equipped with engines that have lower carbon emissions than previous-generation engines. We wish to thank Ted Christie, Scott Haralson and Simon Gore for the confidence they have placed in the AerCap team and we very much look forward to working with them as these aircraft deliver."

"We are excited to further our longstanding, strategic partnership with AerCap. These 20 new aircraft help us achieve our previously announced capacity plans for 2022 and 2023, and our targeted growth in 2024, as we continue our mission of delivering More Go and providing the best value in the sky," said Simon Gore, VP and Treasurer of Spirit Airlines.