30 August 2023: Aircraft Leasing & Management ("ALM"), a wholly owned subsidiary of Fuyo Lease Group ("Fuyo") announced today the conclusion of sale and leaseback agreements for three Airbus A321neo aircraft with existing customer Frontier Airlines.
The first aircraft bearing registration N626FR has been delivered by Fuyo to Frontier at the Airbus facility in Mobile, AL. ALM will act as servicer for the duration of the lease. The remaining two aircraft are scheduled to be delivered within 2023.
Roy Webber, Director Asset Management at ALM said: "On behalf of Fuyo we are very pleased to sign these lease agreements with Frontier and to expand our relationship with them into new technology aircraft. This transaction further illustrates Fuyo's commitment to growth in its aviation business by investing in the newest generation of fuel-efficient aircraft."
Robert Fanning, Vice President, Fleet Transactions and Strategic Sourcing, Frontier Airlines, said: "We are delighted to take delivery of the first of three A321neo's under our partnership with ALM. These highly fuel-efficient aircraft help us continue to operate as America's Greenest Airline, as well as offer an outstanding passenger experience through smart, comfortable design features."
About Fuyo General Lease and ALM: Fuyo General Lease is a Japanese company listed on the Tokyo Stock Exchange, focusing on providing leasing and financing solutions for clients. ALM manages a growing portfolio of A320 and B737 family aircraft for Fuyo and its subsidiary companies.
About Frontier Airlines: Frontier Airlines, Inc., a subsidiary of Frontier Group Holdings, Inc. (NASDAQ: ULCC), is committed to "Low Fares Done Right." Headquartered in Denver, Colorado, the company operates more than 125 A320 family aircraft and has among the largest A320neo family fleet in the U.S. The use of these aircraft, along with Frontier's high-density seating configuration and weight-saving initiatives, have contributed to Frontier's continued ability to be the most fuel-efficient of all major U.S. carriers when measured by available seat miles (ASMs) per fuel gallon consumed. With more than 220 new Airbus planes on order, including direct leases, Frontier will continue to grow to deliver on the mission of providing affordable travel across America.
For more information contact Roy Webber at ALM