Air Lease Corporation delivered the first of four new Airbus A321‑XLR aircraft to Uzbekistan‑based Qanot Sharq on December 19, 2025, marking the first time the extended‑range narrow‑body has entered the Asian market through a lessor. The A321‑XLR, known for its 4,700‑mile range and 15% lower fuel burn compared to the A321neo, positions Qanot Sharq as the first operator of the model in Central Asia and the Commonwealth of Independent States.
The delivery adds a modern, fuel‑efficient asset to Air Lease’s growing portfolio of high‑margin aircraft. In 2024, the company reported $2.73 billion in revenue, up 1.6% from $2.69 billion in 2023, and net income of $372.1 million, a decline from $572.9 million in 2023 largely due to higher interest expenses. The new lease aligns with Air Lease’s strategy of acquiring newer models to command premium rates and strengthen its competitive moat in a market where older fleets are being phased out.
For Qanot Sharq, the A321‑XLR will enable the airline to launch new nonstop routes from Tashkent to destinations in the Middle East, Asia, and Europe, expanding its network reach and offering customers higher comfort on longer flights. The aircraft’s extended range allows the airline to serve “thin” markets that previously required a larger wide‑body, potentially increasing revenue and market share in a region where air travel demand is growing faster than capacity.
Senior Vice President of Marketing at Air Lease, AJ Abedin, said the partnership “demonstrates Air Lease’s commitment to delivering advanced aircraft to emerging markets and reinforces our confidence in Qanot Sharq’s growth trajectory.” Qanot Sharq owner Nosir Abdugafarov added that the A321‑XLR’s efficiency will “unlock new nonstop routes, broaden our international network, and maintain competitive operating economics.”
The A321‑XLR’s entry into the Asian market comes at a time when airlines are seeking fuel‑efficient alternatives to the aging Boeing 757. Its ability to serve long‑haul routes with a single‑aisle aircraft offers environmental benefits and cost savings, addressing headwinds such as rising fuel prices while capitalizing on tailwinds like increasing demand for direct connectivity between mid‑sized cities.
Overall, the delivery strengthens Air Lease’s presence in a high‑growth region and supports Qanot Sharq’s expansion strategy. The transaction exemplifies how leasing newer, efficient aircraft can create value for both lessors and lessees in a market that is increasingly prioritizing sustainability and network connectivity.
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