Aircraft leasing pioneer Steven Udvar-Hazy disclosed Thursday the formation of Air Lease Corp., a new Century City-based jet leasing venture.
According to a release, Air Lease Corp., or ALC, has secured $3.3 billion in financing and plans to buy more than 100 commercial planes by spring of next year.
"ALC is committed to helping shape the future of the aviation industry," Udvar-Hazy said in a statement. "We look forward to working with the leading global airlines as they modernize their fleets."
The announcement comes 37 years after he co-founded International Lease Finance Corp., or ILFC, also located in Century City.
Udvar-Hazy turned ILFC into a global aircraft leasing empire, working with nearly every major airline. It also became the biggest customer of Boeing Co. and Airbus, the world's only remaining makers of large commercial aircraft.