Aircastle signs 777-300ER deal with LATAM

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Aircastle signed a sale and leaseback with LATAM Airlines Group for eight used Boeing 777-300ER aircraft.

The first group of four aircraft, which were manufactured in 2012, is expected to close early in the second quarter of 2014 with an average lease term of 60 months.

The second group of aircraft, which were manufactured in 2008, is expected to be purchased by Aircastle once the existing financings are repaid and will be leased back to LATAM with lease terms expiring in 2017 and 2018.

According to Flightglobal's Ascend Online database, the eight 777-300ERs are operated by TAM Linhas Aereas.