Mitsubishi Aircraft has inked a letter of intent with U.S.-based Aerolease Aviation covering firm orders for 10 MRJ90 regional jets and options on another 10, the companies announced here in Singapore yesterday. The deal marks the first for new airplanes for Aerolease, which has until now specialized in used airplanes, and mainly cargo types. The companies expect deliveries to start in 2018 and run into 2019.

Although Aerolease Aviation partner Jep Thornton acknowledged some concern over the delays that have plagued the MRJ program, he praised Mitsubishi (Stand U1) for its technological capability and expressed confidence that no further delays would hinder his plans to place the first airplane into service in 2018. “The accumulated experiences in aircraft manufacturing and strong financial background of the Mitsubishi group are great value to us,” noted Thornton.

Thornton said he and Mitsubishi Aircraft vice president of sales and marketing Yugo Fukuhara arrived at the agreement on all major points on late Friday night. Competing aircraft under consideration included the Bombardier C Series, he added. “We took a hard look at the C Series in 2008,” he said. “But we pulled back when we thought it would take some time to [for the technology] to develop. We thought the timing was good now to commit to the MRJ.”

Prospective airline operators could come from Africa, noted Thornton, although he also noted “a lot of activity going on in Europe and all over the world.”

A relatively small company established in 1986, Aerolease will not pursue what Thornton described as large, high-profile deals. Rather, Aerolease’s contribution to the program will center on expanding the MRJ’s operating base beyond the few, large U.S. and Japanese airline customers that Mitsubishi has managed to sign.