16-Jul-2010 8:26 AM

Avolon acquires two A320 aircraft from Air Berlin

Avolon announced (15-Jul-2010) the acquisition of two A320 aircraft from Air Berlin.The aircraft were acquired under a sale and lease-back structure and will continue to be operated by Swiss-based carrier Belair, a subsidiary of Air Berlin. Avolon launched in May-2010 having successfully completed its initial capital raise of USD1.4 billion including an equity commitment of USD750 million from three leading private equity firms, namely Cinven, CVC Capital Partners and Oak Hill Capital Partners. Avolon’s committed fleet now stands at more than 30 aircraft comprising A320s, B737NGs and A330s. A number of other transactions are at an advanced stage. [more]