ALC closes 10-year P&LB on Cathay’s 777

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Air Lease Corporation (ALC) has acquired a Boeing 777-300ER from Cathay Pacific Airways through a purchase and leaseback transaction.

The 2009-vintage aircraft is on lease through 2022, says the operating lessor.

Cathay operates a total of 40 777-300ERs and has another 22 aircraft on order.

According to Flightglobal's Ascend Online database, Cathay has five 2009-vintage aircraft in its fleet: three on lease from BOC Aviation and one leased from Doric Flugzeugfonds 8. The Cathay's owned aircraft is MSN 36160.

“ This is an incremental transaction for ALC in 2012 that is perfectly in line with our growth plan,” said John Plueger, president & chief operating officer of ALC. in late April, ALC purchased a 2005-vintage 777-300ER aircraft with a lease attached to Emirates Airline from Macquarie Aviation. The lease expires in May 2017.