Air Berlin signs 12-aircraft sale and leaseback deal with GECAS

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Air Berlin and GE Capital Aviation Services (GECAS) have signed an agreement for the financing of 12 new aircraft.

The new aircraft include five Airbus A320s, three A321s and four Boeing 737-800s, all equipped with CFM International's CFM engines.

The sale-and-leaseback deal will cover deliveries due in the first three quarters of 2012.

The total deal value is worth approximately $1 billion at list prices.