Air Lease Corporation announced the placement of six new 737 MAX 8s with CFM Leap-1B engines on long-term lease to LOT Polish Airlines. In addition to the six firm lease placements, the agreement includes the option to lease five new 737 MAX 8s, to be confirmed by early 2017. All eleven aircraft are from ALC’s order book with Boeing.

Delivery of the first two firmly-contracted aircraft will begin in the fourth quarter of 2017, the next two in 2018, one in 2019, and the sixth aircraft will deliver in or before the first quarter of 2020. The optioned aircraft are expected to deliver in 2019 and 2020.

LOT presents its 2020 profitable growth strategy. During that time the carrier plans to achieve sustainable viability and become a leading airline in Poland and Central and Eastern Europe servicing over 10 million passengers per year, gradually increasing its fleet and launching new flights.

The new 737 MAX 8 aircraft will be used by LOT to increase frequencies and add new destinations on LOT's European and Eurasian route network.

Rafal Milczarski, CEO of LOT Polish Airlines, said: “The addition of these new aircraft to our fleet represents a significant step toward achieving sustainable viability as we gradually grow, simplify and standardize our target fleet and launch new flights. Specifically, Boeing’s 737-8 MAX 8 offers advancements in both technology and passenger experience critical for enhanced reliability and customer service.”

On September 26, 2016, Air Lease Corporation (ALC) announced the pricing of its public offering of $500 million aggregate principal amount of 2.125% unsecured senior notes due 2020.

LOT estimates that in 2020 it will operate a total of approximately 70 aircraft, including 16 Dreamliners and approximately 15 new single-aisle planes with 150-plus seating capacity.