Air Lease Places Order With Boeing

FARNBOROUGH, England—Air Lease Corp. ordered 75 of Boeing Co.'s planned 737 Max aircraft, kicking off the Farnborough International Air Show and accelerating the expansion of one of the airplane-leasing industry's fastest-growing new entrants.

Air Lease was created in early 2010 by industry pioneer Steven Udvar-Házy and listed on the New York Stock Exchange last year. It has more than 300 planes on order or in operation with airlines.

The Boeing order, which includes options to buy an additional 25 planes, has a catalog price of $7.2 billion, although major early customers for new models receive discounts that can exceed 50%.

The order complements one that Air Lease announced last year for up to 50 of the A320neo model from Airbus, Boeing's main rival.

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