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Airlines scheduled to take delivery of these new ALC Boeing 777-300ERs in 2015 are Air France (1), Emirates (1), Korean Air (2), EVA Air (1), KLM (1), and Ethiopian Airlines (2).
The firm's investigation concerns whether ALC overstated rental rates by improperly treating units leased to employees as bona fide residents in order to comply with minimum occupancy requirements imposed by its landlord for certain properties.
We are pleased to announce this strategic lease placement with Kunming Airlines, an important new customer for ALC in China.
Launched in 2010, ALC is an aircraft leasing company based in Los Angeles, California that has airline customers throughout the world.
The Complaint alleges that unbeknownst to investors: (1) there is substantial evidence that during the Class Period ALC was in breach of the Ventas Lease's minimum occupancy covenants, which ALC concealed by treating units leased to employees as bona fide rentals by third parties; and (2) also undisclosed until it was revealed in a lawsuit filed by Ventas in late April 2012 (the "Ventas Litigation"), Georgia and Alabama state regulators served notices in February and March 2012 of their intent to revoke licenses for three of the facilities leased from Ventas.
ALC is proud to announce this successful transaction with KLM, which is now committed to lease a total of four new Boeing 777-300ERs on long term basis from ALC s own order pipeline, said Grant Levy, Executive Vice President of Air Lease Corporation.
Air China is one of ALC s largest airline lease customers in Asia for both single and twin-aisle aircraft, said Jie Chen, Executive Vice President and Managing Director, Asia.
The company has also placed one incremental A330-200 on long term lease to KLM, which is scheduled for delivery in 2013; one A330-300 from the ALC pipeline on long term lease to Sichuan Airlines, scheduled for delivery in 2013, also Sichuan airlines executed a four year extension on one A319 aircraft which is currently on lease from ALC; and one Embraer 190 from the ALC pipeline is being leased to LAM (Mozambique) and is scheduled for delivery in 2012.
The Firm wishes to remind shareholders who purchased ALC shares during the Class Period and suffered losses, and who may wish to serve as a lead plaintiff, that you have until October 29, 2012 to seek appointment as lead plaintiff by the Court.
The lawsuit alleges that the company misled shareholders by failing to disclose that ALC did not maintain minimum occupancy rates at several facilities in violation of its lease agreements.
ALC looks forward to a long and successful relationship with Air Serbia as they expand their fleet and route network in Europe and beyond.
As part of the agreement, ALC stockholders will receive USD12.