TAP Portugal Agrees New Leases

Flag carrier TAP Portugal has signed long-term lease agreements with Air Lease Corporation (ALC) for four new Airbus A330-900neos and a single A320-200neo.

The A330neos will be powered by the latest generation Rolls-Royce Trent 7000 engines, while the carrier has selected the CFM International’s LEAP-1A for its A320neo.  All five jets will come from ALC’s outstanding orderbook with the European manufacturer and are scheduled for delivery between the fourth quarter of next year and the third quarter of 2019.

Steven F Udvar-Házy, Executive Chairman of ALC, remarked: “We are pleased to complete this important lease transaction with our friends at TAP.  These five new-technology aircraft will modernise the airline’s fleet and help develop its growing network across Europe, Africa, North and South America.”

Fernando Pinto, CEO of TAP Portugal, added: “We are in the process of a major fleet transformation that simultaneously improves our cost competitiveness as well as the quality of our product.  TAP is the launch customer for the A330-900neo having placed an order for 14 examples in November 2015, and earlier this year we signed a deal to lease two A330-900neos with BOC Aviation, bringing the total to 20 jets, which represents a substantial commitment to reinvesting in the airline’s widebody fleet.”