26-May-2010 8:32 AM

AerCap signs agreement to sell six A320 aircraft to Avolon

AerCap signed (25-May-2010) an agreement with Dublin-based aircraft leasing company Avolon for the sale of six A320s. Four of the aircraft are new and a part of the AerVenture portfolio, a JV between AerCap and Waha Capital. The other two aircraft are owned by AerCap. All aircraft have been sold with leases attached. In addition to the A320 sale, AerCap has established a JV with Avolon which owns three of AerCap's A330-200 aircraft on long-term leases with Aeroflot. AerCap and Avolon will each contribute 50% of the equity required for this JV. AerCap will continue to manage the aircraft and the related leases. [more]

AerCap: "Investor demand for new aircraft has significantly increased over the last few months, especially when linked to long-term leases with prime airlines. This market environment has provided attractive opportunities for us to sell aircraft from our young, fuel-efficient portfolio and from our order positions in order to achieve our diversification objectives and further optimize our portfolio," Klaus Heinemann, CEO. Source: AerCap, 25-May-2010.