Tue, Jun 23, 2009
Plan Covers At Least 10 Jets
announced Monday that it has signed letters of intent with Virgin
Atlantic Airways for the purchase and leaseback of six Airbus
A330-300s that Virgin Atlantic has on order with Airbus. In
addition, AerCap will lease four Airbus A330-300 aircraft to Virgin
Atlantic from its own A330 order.
The lease terms for all aircraft are twelve years and deliveries
are scheduled for 2011 and 2012. Virgin Atlantic has not yet
selected the engine type.
AerCap expects to finance the six new aircraft purchases under
its existing funding facilities. The four aircraft for direct lease
to Virgin Atlantic were the only remaining positions from AerCap's
order of thirty Airbus A330s placed in 2006/2007.
Steve Ridgway, CEO of Virgin Atlantic, said: "This order shows
we are confident about our future growth. AerCap has helped make
this deal a reality against the backdrop of unprecedented
financial turmoil. We look forward to working with the AerCap team
Soeren Ferre, CEO of AerCap Group Services B.V., said of the
deal: "We are very pleased with this ten-aircraft-deal with Virgin
Atlantic Airways as one of the world's premier long haul airlines.
With the transaction coinciding with Virgin Atlantic's 25th
birthday this year and representing the completion of AerCap's A330
order placements, there is good reason to celebrate for both
parties. We expect to close the final negotiations with Virgin
Atlantic shortly and, above all, wish them a very Happy
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