Air Lease Corporation (ALC), the recently formed aircraft financing and leasing company, has chosen to place its first firm order for new aircraft directly from Airbus. The order is for 20 A321 aircraft and 31 A320 aircraft. The agreement was signed during a ceremony held today at the Farnborough International Air Show.

ALC was established earlier this year by the company’s Chairman and CEO, Steven F. Udvar-Hazy, founder and former Chairman and CEO of the International Lease Finance Corporation (ILFC). ALC will purchase and lease commercial jet aircraft to airlines worldwide. ALC raised several billions of U.S. dollars of capital to acquire modern commercial jetliners and rapidly expand its portfolio of the latest technology aircraft.