Posted on: 15 July 2010 by Mark Howells
Aircraft leasing group Avolon has acquired two Airbus A320s from Air Berlin under a sale and lease-back structure, with the aircraft continuing to be operated by Switzerland-based Belair, a subsidiary airline of Air Berlin.
Headquartered in Ireland, with offices in New York, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services to airlines and airline investors globally. Its committed fleet now stands at over 30 aircraft comprising Airbus A320s, Boeing 737NGs and Airbus A330s. A number of other transactions are at an advanced stage of discussions with airlines globally.
Dómhnal Slattery, Avolon chief executive officer, commented, “We are delighted that Air Berlin has selected Avolon as preferred partner on this transaction. We welcome them as a customer and look forward to building a significant relationship with them in the coming years”
Ulf Hüttmeyer, Air Berlin’s chief financial officer, added, “Air Berlin requires flexible and creative partners who can work with us to support our fleet financing requirements. Avolon has demonstrated they have the capability and attitude to deliver both and we look forward to exploring the potential for further co-operation with them in the future.”