Avolon acquires two A320 aircraft via sale-leaseback

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By TESTCustomwebLP TESTCustomwebLP October 30, 2013 21:12

Avolon acquires two A320 aircraft via sale-leaseback

Avolon has acquired two A320 aircraft for delivery to Etihad Airways as part of a sale and leaseback transaction, financed by Abu Dhabi National Leasing. The first of the two aircraft has now delivered. The second is scheduled for delivery in December.

This transaction is Avolon’s first transaction with both Etihad Airways and Abu Dhabi National Leasing and forms an important part of Avolon’s strategic expansion in the Middle East.

“Etihad has selected Avolon as a partner in its fleet development plans and our team has a proven track record in structuring innovative sale and leaseback financings,” said Ranga Karumbunathan, Managing Director Origination, Avolon. “We look forward to further developing our relationship with both Etihad and Abu Dhabi National Leasing. This is our third transaction in the Middle East and we are focused on further expanding our presence in the region.”

“In a rapidly evolving market, having a flexible and reliable partner to work on fleet financing solutions is important,” said James Rigney, Chief Financial Officer, Etihad Airways. “We are pleased to have completed this transaction with Avolon and Abu Dhabi National Leasing to finance two of our Airbus aircraft. This is our first delivery from Avolon and we look forward to working with them in the future as we continue to grow and provide our customers with a superior travel experience.”

Yousef Abdulla Yousef, Managing Director, Abu Dhabi National Leasing, said: “This is an important milestone for Abu Dhabi National Leasing to collaborate with Avolon Aerospace Leasing in financing two A320-200 aircraft for Etihad Airways on sale and leaseback. We are thrilled to have Etihad Airways and Avolon as partners in this transaction and are excited to expand our relationship through other transactions in our shared mandate to establish Abu Dhabi as global aerospace hub.”

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By TESTCustomwebLP TESTCustomwebLP October 30, 2013 21:12
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