Posted on: 14 October 2010 by Ross McSweeny
Wizz Air and Jackson Square Aviation (JSA) have announced the closing of a pre-delivery financing and sale and leaseback transaction for three new Airbus A320s, all to be delivered in second quarter of 2011.
Though this is the first agreement between Wizz Air and JSA, it is the second transaction between Wizz Air and JSA’s management team.
The aircraft are included in the purchase contracts between Wizz Air and Airbus for up to 107 A320 family aircraft. The aircraft will come with a single class configuration of 180 seats, consistent with Wizz Air’s unified A320 fleet.
Under the terms of the transaction, JSA will take ownership of the aircraft upon delivery from Airbus and Wizz Air will then lease them back from JSA for an 11-year lease term. The deal allows Wizz Air to continue financing its impressive growth and also proves the robustness of its business model. It also allows JSA to capitalise on the advantages of the long-standing cooperation between Wizz Air and Airbus and positions itself well in the fast-growing air travel markets of Central and Eastern Europe.