American inks sale-leaseback deal on ATR 72s

Washington DC
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American Airlines parent AMR expects to net $200 million on a sale-leaseback deal it has arranged with Nordic Aviation Capital and another Danish investment firm Kirk Kapital on ATR 72 aircraft.

The 39 ATR turboprops are operated by Executive Airlines, which is owned by AMR subsidiary American Eagle Airlines.

Carrier VP for corporate development and treasurer Beverly Goulet outlined the deal today during a presentation at the Credit Suisse Global Airlines Conference. She explains the aircraft-by-aircraft transactions will take place during the next few weeks.

Specifially AMR is selling the aircraft to a newly-formed joint venture between Nordic Aviation Capital and Kirk--NK Aviation Limited.

With respect to the 30 Boeing MD-80s pegged for departure from American's fleet this year, Goulet explains the carrier is using some of the parked aircraft for spare parts to help reduce maintenance costs of other aircraft of the same type still in operation. American is also looking to sell some of those planes.