International Lease Finance Corporation (ILFC) signed a 12-year lease agreement with SriLankan Airlines for three A350-900 aircraft yesterday. The agreement with ILFC, which is a fully-owned subsidiary of American International Group Inc. (AIG), was brought about as part of SriLankan Airlines’ plans to renew its long-haul fleet.“This would be the first time the A350 family aircraft will enter our fleet and it marks a significant step towards the growth of the airline.

SriLankan has placed direct orders for four additional A350-900 aircraft with Airbus and we believe that this new generation, fuel-efficient aircraft will play a leading role in the airline’s long-haul operations in time to come,” SriLankan Airlines Chief Executive Officer Kapila Chandrasena stated.

The A350-900s are powered by RollsRoyce Trent XWB-84 and are part of an operating lease agreement, which has an anticipated delivery timeline between July and September 2016. ILFC currently has two A330-200s and one A340-300 on lease with SriLankan.

“ILFC values our strong and important relationship with SriLankan. We look forward to contributing to SriLankan’s fleet renewal and its continued success.

We believe these aircraft will provide valuable flexibility and efficient performance for the airline’s long-haul operations,” ILFC Chief Executive Officer Henri Courpron said.AIG is an international insurance organisation with a presence in over 130 countries. AIG companies operate in commercial and retail segments and the group is one of the leading providers of Life insurance and retirement services in the United States.