MIAMI — Air Lease Corporation (ALC) just established a long-term lease agreement with the ultra-low-cost carrier, Frontier Airlines, for two new Airbus A321-200s.

“We are pleased to announce these two additional A321-200 lease placements with Frontier Airlines. We look forward to a long-term relationship with Frontier as they continue to add new Airbus aircraft to modernize their expanding fleet and grow their network,” said Steven F. Udvar-Házy, Air Lease Corporation’s Executive Chairman.

READ MORE: PAS 2017 Analysis: ALC Orders 12 Additional A321neo Aircraft

Currently, Frontier Airlines operates an all-Airbus fleet of 78 aircraft composed by 18 A319-100, 24 A320-200, 17 A320neo, and 19 A321-200. It also has 201 aircraft in order: 165 A320neo, two A321-200, and 34 A321neo.

Last December, Indigo Partners finalized the blockbuster agreement made in the Dubai Air Show with Airbus for the acquisition of 430 A320neo Family aircraft.  The order includes 274 A320neos and 156 A321neos, worth $49.5 billion. Frontier will receive 100 A320neo and 34 A321neo from that order.

READ MORE: Airbus, Indigo Partners Conclude Order for 430 A320neo Family Aircraft

However, this is the second agreement made by the airline with ALC; it is followed by two new A320-200s that were delivered in 2016. The new order is expected to be delivered in the fourth quarter of 2018 from ALC’s Airbus order book.

“We remain focused on delivering on our mission to provide Low Fares, Nationwide and we look forward to continuing to work with Air Lease Corporation to achieve this goal,” said Barry Biffle, President, and CEO of Frontier Airlines. “These additional aircraft help pave the way for us to modernize and renew our fleet while helping us build a strong foundation for the future.”

READ MORE: Frontier Airlines Announces Major Route Network Changes

The leasing company is based in Los Angeles, California and has airline customers throughout the world. Frontier Airlines is one of its customers flying to 60 destinations in the United States, Mexico, Costa Rica, Jamaica and the Dominican Republic with more than 270 daily flights.