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Air Lease (AL) Inks Long-Term Lease Placement With Aeromexico
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Air Lease Corporation (AL - Free Report) announced a long-term lease agreement for nine new (two new 737-8s and seven new 737-9s) Boeing 737 planes with Mexican carrier Aeromexico. The jets are scheduled to be delivered between July 2022 and August 2023 from AL’s orderbook with Boeing (BA - Free Report) . Boeing remains the largest U.S. aircraft manufacturer and is one of the largest aerospace and defense contractors.
Expressing delight at the deal with Aeromexico, Steven Udvar-Házy, the executive chairman of Air Lease, said: “Air Lease Corporation is Aeromexico’s largest lessor, and we are pleased to further our relationship with the airline with these nine new Boeing 737 aircraft lease placements”.
Boeing 737 offers the most modern, fuel-efficient and environmentally-friendly jets. These fleet renewal techniques will help Aeromexico modernize its fleet with new fuel-efficient and eco-friendly Boeing aircraft in 2022 and 2023. Such moves are expected to boost AL’s top line by augmenting lease revenues.
Investors interested in the broader Zacks Transportation sector can also consider other top-ranked stocks like Old Dominion Freight Line, Inc. (ODFL - Free Report) and Triton International Limited .
The long-term expected EPS (three to five years) growth rate for Old Dominion is pegged at 16%. Old Dominion is benefiting from the strong performance of the LTL segment owing to improved freight conditions. In 2021, revenues from the LTL services segment increased 30.7% on a year-over-year basis.
Driven by the tailwinds, the stock has increased 34.3% in the past year. ODFL currently carries a Zacks Rank #2 (Buy).
The long-term expected EPS (three to five years) growth rate for Triton is pegged at 10%. Gradual increases in trade volumes and higher container demand bode well for the company. With easing coronavirus-led restrictions in the United States and Europe, TRTN saw a strong rebound in its business in the third and the fourth quarters of 2020 as well as in each of the four quarters of 2021.
Driven by the tailwinds, the stock has gained 27.4% in the past year. TRTN currently carries a Zacks Rank of 2.
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Air Lease (AL) Inks Long-Term Lease Placement With Aeromexico
Air Lease Corporation (AL - Free Report) announced a long-term lease agreement for nine new (two new 737-8s and seven new 737-9s) Boeing 737 planes with Mexican carrier Aeromexico. The jets are scheduled to be delivered between July 2022 and August 2023 from AL’s orderbook with Boeing (BA - Free Report) . Boeing remains the largest U.S. aircraft manufacturer and is one of the largest aerospace and defense contractors.
Expressing delight at the deal with Aeromexico, Steven Udvar-Házy, the executive chairman of Air Lease, said: “Air Lease Corporation is Aeromexico’s largest lessor, and we are pleased to further our relationship with the airline with these nine new Boeing 737 aircraft lease placements”.
Boeing 737 offers the most modern, fuel-efficient and environmentally-friendly jets. These fleet renewal techniques will help Aeromexico modernize its fleet with new fuel-efficient and eco-friendly Boeing aircraft in 2022 and 2023. Such moves are expected to boost AL’s top line by augmenting lease revenues.
Zacks Rank & Other Stocks to Consider
Air Lease currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Investors interested in the broader Zacks Transportation sector can also consider other top-ranked stocks like Old Dominion Freight Line, Inc. (ODFL - Free Report) and Triton International Limited .
The long-term expected EPS (three to five years) growth rate for Old Dominion is pegged at 16%. Old Dominion is benefiting from the strong performance of the LTL segment owing to improved freight conditions. In 2021, revenues from the LTL services segment increased 30.7% on a year-over-year basis.
Driven by the tailwinds, the stock has increased 34.3% in the past year. ODFL currently carries a Zacks Rank #2 (Buy).
The long-term expected EPS (three to five years) growth rate for Triton is pegged at 10%. Gradual increases in trade volumes and higher container demand bode well for the company. With easing coronavirus-led restrictions in the United States and Europe, TRTN saw a strong rebound in its business in the third and the fourth quarters of 2020 as well as in each of the four quarters of 2021.
Driven by the tailwinds, the stock has gained 27.4% in the past year. TRTN currently carries a Zacks Rank of 2.