16-Aug-2013 7:54 AM

airberlin and Minsheng Commercial Aviation Limited sign LoI for 11 aircraft

airberlin and the newly established Minsheng Commercial Aviation Limited signed (15-Aug-2013) a package deal for 11 aircraft - covering used and new narrowbody aircraft - all equipped with CFM engines. This transaction consists of two parts: Sale-and-lease-back of five used A320 family aircraft owned by airberlin and two new deliveries in 2014 of one new A320 family aircraft with sharklets and one new 737-800 aircraft. In addition, Minsheng will have an option to buy four 737s from airberlin and place them into the Chinese market. The execution of the transactions will be completed in 2013 and 2014 respectively. Minsheng Commercial Aviation Limited CEO Johnny Lau said: “As Minsheng Leasing is moving into the commercial aviation market, we are very grateful to support airberlin aircraft financing programme. With airberlin as our first international customer, MSCA will continue to add other reputable airlines into our client list.” airberlin CFO Ulf Hüttmeyer commented: “We are pleased to announce this important transaction for airberlin which is further enhancing airberlin’s financing portfolio by expanding our footprint within the Chinese financial market. This transaction supports the management of our net debt position and our fleet alignment activities also in relation to our turnaround programme Turbine. We are looking forward to a trustful and long lasting relationship between the two companies.” [more - original PR] [more - original PR - German]

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