Posted on: 19 October 2011 by Ross McSweeny
Wizz Air has announced a sale and leaseback transaction with Avolon for three new Airbus A320s scheduled to be delivered in the first half of 2012.
This is the first such deal between Wizz Air and Avolon under the terms of which Avolon will take ownership of the aircraft upon delivery from Airbus and Wizz Air will then lease them back for a minimum 7-year lease term.
The new A320s will come with a single-class configuration of 180 seats, consistent with Wizz Air’s unified A320 fleet.
Michael Powell, chief financial officer of Wizz Air, commented, “The deliveries of new Airbus A320 continue to support our leadership position in Central and Eastern Europe. We are pleased to add Avolon into our diversified financing portfolio.”
Pat Hannigan, Avolon’s head of Europe, Middle East and Africa said: “We are pleased to announce the strengthening of our relationship with Wizz Air.”