Operating Lease of one A340-300 to Plus Ultra from AerCap

Eleanor Steed
By Eleanor Steed May 4, 2017 11:27

Operating Lease of one A340-300 to Plus Ultra from AerCap

Plus Ultra Airlines has recently taken delivery of an A340-300 from AerCap under Operating Lease. This is the third aircraft in their fleet (all A340-300), and will be devoted to the new Summer program of Plus Ultra, including the opening of a new route from Madrid to Santiago de Chile.

Plus Ultra started its operations in mid-2016, with its first scheduled flights to Lima (Perú) and Santo Domingo (Dominican Republic), after a long process to obtain the AOC.

It currently operates two A340-300 aircraft which are dedicated to both scheduled routes (all year & seasonal) as well as ACMI & Charter transactions. Within the business plan of Plus Ultra, they are contemplating new additional routes to a limited number of South American cities, such as Mexico, Buenos Aires and Bogotá.

Santiago Fernandez Lena, Managing Director and Secretary of the Board of Plus Ultra said “We are very proud of having the largest worldwide lessor, AerCap, as our aircraft provider, and we expect to continue developing our business partnership with them. I am sure that this aircraft will contribute to the growth of our business in the long haul routes”.

AerCap President and Chief Commercial Officer Philip Scruggs said, “We wish Plus Ultra every success with this additional A340-300 aircraft, an aircraft that is perfectly equipped to operate on the selected South American routes. Plus Ultra’s experienced management team recognize the economic benefit of operating used wide-body aircraft. We welcome Plus Ultra as a new customer and look forward to growing our partnership with them.”

For the completion of this transaction, Plus Ultra has received the advice of Sigrun Partner, which is a Spanish financial advisory firm commencing its business in the aviation market. Juan Carlos Garcia Centeno, Executive Chairman of Sigrun, mentioned “We are very happy to have supported Plus Ultra in the successful conclusion of this transaction, and we look forward to continue developing the aviation market in Europe and Latin America”. In addition, Plus Ultra relied upon the legal advice of Forum Juridico, a Spanish legal firm which is also entering the aviation market and working with Plus Ultra in a wide range of activities.”

Eleanor Steed
By Eleanor Steed May 4, 2017 11:27