24-Sep-2009 2:39 PM

Air Jamaica makes payment towards ILFC agreement

Air Jamaica announced it has made its first payment on a USD38.3 million, five-year agreement with ILFC for the return of six aircraft (jamaicaobserver.com, 23-Sep-2009). The carrier has reportedly negotiated a 'global settlement' with ILFC, taking into account past payments owed to the leasing company, early return penalties, as well as obligations to return the aircraft in the same conditions in which they were received.