CBA acquires A330 from SIA

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Commonwealth Bank of Australia has completed the purchase a new Airbus A330-300 aircraft from Singapore Airlines, according to Flightglobal's Ascend Online database.

The bank established a special purpose company CBA A330 1427 for the acquisition of the aircraft (MSN 1427) under a purchase and leaseback transaction.

According to Ascend, the aircraft is being leased back for a period of six years.

The transaction is the first of a two-aircraft deal. The second aircraft (MSN 1459) is scheduled for delivery in September.

The aircraft are part of a second batch of 15 A330s negotiated with Airbus in 2011.

Singapore Airlines also completed A330 sale and leaseback deals with AerCap. The lessor took delivery of the first A330s earlier this year, and has another three aircraft to be delivered through December.

BBAM has a total of six A330 deliveries to Singapore Airlines, while AerDragon has one delivery scheduled for 2014. Another two A330-300s are rumoured to be acquired by Inception Aviation.