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Global Aircraft Leasing Newsletter 27 February

Global Aircraft Leasing Newsletter 27 February

Air Lease Corporation Announces Lease Placement of New Boeing 787 Dreamliner with Air New Zealand

Air Lease Corporation 24 February announced a long term lease agreement with Air New Zealand for one new Boeing 787-9 aircraft. The aircraft is from ALC’s order book with Boeing and is scheduled for delivery in Q3 2018. ALC currently has Airbus A320s and Boeing 777-300ERs on lease to Air New Zealand, with the five new A321neo and A320neo aircraft which start delivering later this year on long term leases.

Air India puts aircraft on sale to repay loan

Air India has put on sale two more Dreamliners (Boeing 787-800) to raise $250 million (nearly Rs 1,700 crore) for the repayment of short-term loan availed earlier for purchasing these planes. The airline would also lease back these two Boeing 787-800s under an operating lease for a period of up to 12 years with a three-year extension option, the airline said in its Invitation of Offers document. These two aircraft were delivered to Air India between November last year and January this year.

KalStar Aviation ends ATR42-500 operations

KalStar Aviation has ended ATR42-500 operations with its sole remaining airframe of the type now having been returned to lessor Castlelake.

Stobart Group completes acquisition of Propius

Stobart Group 24 February announced the completion of the acquisition of the remaining interest in its aircraft leasing business, Propius Holdings Limited (Propius). This follows the announcement on 18 November 2016 that the Group had agreed in principle to acquire the remaining 33% interest in Propius from Aer Lingus, taking the Group’s interest in Propius to 100%.

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