Aircastle agrees eight-aircraft portfolio sale

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Operating lessor Aircastle has signed a term sheet to sell an eight-aircraft portfolio with lease attached, say sources.

The transaction, which is in due diligence, includes three Airbus A330-300s leased to US Airways and three A319s leased to Brussels Airlines. The portfolio also includes a pair of Boeing 737-800s leased to Air Berlin and Corendon Airlines, says one source.

Aircastle is also said to be in the market with the sale of six 767-300ERs in operation with German charter carrier Condor. The aircraft were acquired in 2012 through a purchase-and-leaseback transaction.

In addition, two 737-800s on lease to Russia’s Orenair have also been offered for sale.

During the first quarter, Aircastle, as a remarketing agent, sold one 1995-vintage Boeing 737-400 with a lease attached to Jordan Aviation.

Aircastle also acquired a total of eight aircraft for $715 million during the January-March period.

In February, the lessor signed a purchase-and-leaseback agreement with LATAM Airlines Group for eight used 777-300ERs. The first four aircraft, which were built in 2008, completed during the first quarter. The second batch of 777s, delivered new in 2012, is expected to close this quarter.

Aircastle could not be reached for comment.