Stobart completes sale-leaseback on eight ATR72-600s

Following the completion of the acquisition of Stobart Group’s aircraft leasing business, Propius Limited (Propius) on 24 February 2017, Propius has signed an agreement with GOAL German Operating Aircraft Leasing (GOAL) for the sale and leaseback of its eight ATR72-600 aircraft. The Group will receive net proceeds of $62.7 million, after the repayment of existing financing in respect of the aircraft.  The leases are for a 10-year term with an option to terminate after six years.  Aggregate payments under the leases will amount to $15.4 million per annum.  The Group will continue to operate all eight aircraft within the Stobart