Century City Company Places $9-Billion Airbus Order

Century City's Air Lease Corp., an aircraft-leasing firm, has agreed to purchase a total of 39 planes from aircraft manufacturer Airbus.

The company has signed a contract for 25 A350 XWB (Extra Wide Body) Family aircraft and five additional A350-1000s, according to a statement issued by Airbus Monday. The A350 XWB (Xtra Wide-Body) is an all-new mid-size, long range product line comprising three versions and seating between 270 and 350 passengers in typical three-class layouts. The new family will bring a change in efficiency compared with existing aircraft in this size category, using 25 per cent less fuel and providing an equivalent reduction in CO2 emissions, the statement said.

According to the L.A. Times, the order is worth about $9 billion.

Six years ago, reports the Wall Street Journal, Air Lease founder and Chief Executive Steven Udvar-Házym, called for a redesign of the planes lest risking being crushed by its rival Boeing Dreamliner. Now, he's singing it's praises.

“The A350 XWB Family is becoming the industry benchmark for efficiency in the long haul segment, and the A320neo Family is ideal for airlines operating short to medium haul missions,” said Steven F. Udvar-Házy, Air Lease Corporation’s Chairman and Chief Executive Officer. “ALC offers its customers the most modern, efficient aircraft on the market, and both the A350 XWB and the NEO fit right in that category.”

The A350 XWB is scheduled for entry-into-service in 2014. With ALC’s newest order included, the A350 XWB has already won 617 firm orders from 35 customers worldwide. The company's A320neo will enter into service in late 2015, followed by the A321neo in 2016.