Avolon Acquires Two A320 Aircraft from Air
Sale and leaseback transaction with Germany’s second largest carrier
July 15, 2010 05:03 AM Eastern Daylight Time
DUBLIN & NEW YORK & HONG KONG & SHANGHAI--(EON: Enhanced Online News)--Avolon, the
aircraft leasing group, today announces that it has acquired two Airbus A320 aircraft from Air Berlin, Germany’s
second largest carrier and the fifth largest airline in Europe. The aircraft were acquired under a sale and lease-back
structure and will continue to be operated by Swiss-based carrier Belair, a subsidiary airline of Air Berlin.
Headquartered in Ireland, with offices in New York, Hong Kong and Shanghai, Avolon provides aircraft leasing and
lease management services to airlines and airline investors globally. Avolon launched in May, 2010 having
successfully completed its initial capital raise of US$1.4 billion including an equity commitment of US$750 million
from three of the world’s leading private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners.
Avolon’s committed fleet now stands at over thirty aircraft comprising Airbus A320s, Boeing 737NGs and Airbus
A330s. A number of other transactions are at an advanced stage of discussions with airlines globally.
Dómhnal Slattery, Avolon Chief Executive Officer, commented:
“We are delighted that Air Berlin has selected Avolon as their preferred partner on this transaction. We
welcome them as a customer and look forward to building a significant relationship with them in the coming
years. Our ability to complete this transaction, in a very short timescale, reflects the strength of our financial
backing and our deep experience in delivering innovative sale and leaseback solutions to the world’s
Ulf Hüttmeyer, Air Berlin Chief Financial Officer, commented:
“Air Berlin requires flexible and creative partners who can work with us to support our fleet financing
requirements. Avolon has demonstrated they have the capability and attitude to deliver b