Air Lease Corporation’s AL management announced that it delivered a new Airbus A321-200neo aircraft on long-term lease to its loyal customer China Airlines. The transaction marks the first of six new A321-200neos to be delivered to China Airlines from AL’s orderbook with Airbus. The jets are powered by Pratt & Whitney PW1133G-JM engines.
Additionally, the planes are highly fuel-efficient and flexible. The delivery of these jets by Air Lease should not only bolster China Airlines’ profitability but is also in line with its environmentally-friendly objectives. The A321 delivery is also significant as it marks the introduction of such aircraft to China Airlines’ fleet.
Air Lease’s CEO John Plueger, visibly delighted by this development, stated that “ALC is honored to be the first to introduce the A321neo to our long-time customer China Airlines. The A321neo will become the backbone of China Airlines’ single-aisle fleet, providing fleet expansion and modernization, and elevation of their passenger experience to new levels. The greater fuel efficiency and operating flexibility of the A321neo will also maximize profitability and further China Airlines environmental sustainability goals.”
The above-mentioned news apart, Air Lease also grabbed attention recently when it placed a bulk order to Airbus for 111 jets, including 25 A220-330s.
Zacks Rank & Stocks to Consider
Air Lease currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Transportation sector are Landstar System (LSTR) and C.H. Robinson Worldwide (CHRW).
The long-term (three to five years) expected earnings per share growth rate for Landstar is pegged at 12%. LSTR benefits from a gradual recovery in the economy and freight-market conditions in the United States.
LSTR’s top and the bottom line increased substantially in each quarter from the levels achieved in the third quarter of 2020, owing to robust revenues in the primary segment of truck transportation. The stock has rallied 29.6% in the past year. Landstar carries a Zacks Rank #2 (Buy) at present.
The long-term expected earnings per share (three to five years) growth rate for C.H. Robinson is pegged at 9%. CHRW is benefiting from higher pricing and volumes across most of its service lines. Total revenues jumped 42.4% year over year in the first nine months of 2021, with revenue growth reported across all the segments.
CHRW’s measures to reward its shareholders are encouraging. Driven by the tailwinds, the stock has moved 2.5% up in the past year. C.H. Robinson currently carries a Zacks Rank of 2.
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Air Lease Corporation (AL): Free Stock Analysis Report
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