Mon, Nov 04, 2013
First Sale And Leaseback Transaction With Leading Middle Eastern Carrier Financed By Abu Dhabi National Leasing
International aircraft leasing group 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."
“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," commented Yousef Abdulla Yousef, Managing Director, Abu Dhabi National Leasing. "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.”
Avolon is an established, international aircraft leasing firm with a growing global customer base of 37 airlines in 24 countries with a committed fleet of 179 aircraft and the youngest large lessor fleet in the world.
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