Condor to sell 757-300 fleet for leaseback

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German leisure carrier Condor is to conduct a sale and leaseback of its 13 Boeing 757-300s through the asset management division of BAE Systems.

BAE has landed an exclusive agreement to remarket the aircraft for the carrier, which is affiliated with tour operator Thomas Cook.

Condor is one of just a handful of airlines which operate the 757-300. The twin-jets are powered by Rolls-Royce RB211 engines and are all around 10-11 years old.

BAE will remarket the aircraft to financial institutions and lessors, but adds: "All the aircraft will remain in operation with Condor."