Avolon closes A330 sale and leaseback with Garuda

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Operating lessor Avolon has closed the first of four Airbus A330-300 sale-and-leaseback financings with Garuda Indonesia.

The aircraft, MSN 1548, is powered by Trent 77B-60EP engines. It was delivered on 19 August.

Sources indicate that Avolon stepped up to do the sale-and-leaseback transaction in May after a German KG financing involving the units was cancelled.

Flightglobal’s Ascend Fleets database show that the second aircraft, as part of this financing, is due next month. Another delivery is planned for October and the last unit is due in December.

Garuda is to take delivery of five A330-300s in 2015, seven in 2016 and the remaining unit in 2017.