Deals - 15 August 2007

This story is sourced from

Republic Financial Corporation has acquired a total of five Airbus widebody aircraft over the past month. The privately-held company, with investment interests in a diverse portfolio of operating companies and aviation assets, completed the purchase of two Airbus A340-300s (2, 3) with CFM56-5C2 engines from Airbus Financial Services. Both 1992-built aircraft have leases attached to Virgin Atlantic Airways through June and July 2010, respectively.
Republic Financial also purchased three Airbus A330-300 (30, 37, 45) aircraft with CF6-80E1A2 engines from AerCap. Two of the purchased aircraft were manufactured in 1993 and the third in 1994. The aircraft are currently leased to SN Brussels until end of 2010.
“Republic’s aviation group is able to leverage our industry relationships that enable the company to arrange financing and leases to close complex international transactions,” said Paul Mason, president of Republic’s aviation and portfolio group. “The addition of these three aircraft is a testament to our commitment to growth.”
With this latest acquisition, Republic’s aviation portfolio totals 13 wide-body aircraft, including six A340-200s at South African Airways, two A340-200s at Air Comet, two A340-300s at Virgin Atlantic Airways and now three Airbus A330-300s at SN Brussels.

Allegiant Air leased a McDonnell Douglas MD-83 (53051) with JT8D-219 engines from Triton Aviation Finance.

Aerocalifornia leased a 1985-built McDonnell Douglas MD-83 (49235) with JT8D-219 engines from Interglobal.

Aircastle acquired an Airbus A320-200 (1054) with engines from Delvaux Aircraft Leasing (BNP Paribas). The aircraft has a lease attached to Turkish Airlines THY through April 2008. The 1999-built aircraft had been operated by Sabena through 2001 and had a spell at Khalifa in 2002, before being leased to Turkish Airlines THY.

Blue Panorama leased two 1997-built ex-Bulgaria Air Boeing 737-300s (29059, 29060) with CFM56-3C1 engines from Deutsche Structured Finance.

Click Mexicana leased a Fokker F-100 (11320) with Tay 650-15 engines from AerCo Group. The 1991-built aircraft was previously on lease to TAM Linhas Areas.

Ethiopian Airlines purchased a McDonnell Douglas MD-11 (48502) aircraft equipped with CF6-80C2D1F engines from Boeing Capital Corporation. The MD-11, currently in a passenger configuration, will soon be converted to freighter and is scheduled to be re-delivered to Ethiopian Airlines in December 2008. Ethiopian Airlines is also negotiating for a second converted MD-11 freighter aircraft on a lease basis, scheduled for delivery at the end of 2009.  

Jet Airways signed an agreement with BOC Aviation for the lease of two new Boeing 737-800 aircraft (35082, 35083) for a period of eight years each. The aircraft will be delivered in the first quarter of 2008 and will be leased to the airline.
Jet Airways, which becomes a new customer for the Singapore-based leasing company, will use the aircraft to increase capacity on its extensive domestic route network.

Falak Investments purchased an Airbus A340-300 (117) with CFM56-5C4 engines from Boeing Aircraft Holdings in deal arranged by Novus Aviation. The 1996-built ex-SIA/Khalifa Airways aircraft had been on lease to Etihad Airways since 2004. The aircraft is on lease through February 2009.
Falak Investments purchased three 1998/99-built Airbus A340-300s (212, 215, 282) with CFM56-5C4 engines from United Inter-national Bank. Initially all three aircraft were acquired with lease attached to Gulf Air through June 2008. All leases have been extended through June 2013.

Knafaim Holdings acquired three Boeing 767-300ER (24477, 24847, 24848) aircraft with PW4060 engines for shekels345m ($80.04m) from BCI Aircraft Leasing in a sale and lease-back transaction. All three aircraft have been on lease to German travel group TUI since April 2005 and have been subleased to Arkefly. The aircraft come with lease attached through October 2010 and October 2011. Knafaim said in a statement it expects to make shekels237m ($54.98m) from the lease.

LAN Airlines leased an Airbus A340-300 (167) with CFM56-5C4 engines from Air Canada. The 1997-built aircraft is the fifth Airbus A340-300 LAN Airlines operates.

Martinair subleased two Boeing 737-800 aircraft (30670, 32799) equipped with CFM56-7B26 engines from Miami Air Inter-national. Both are 2004-built aircraft on lease from ILFC through April 2013 and March 2009, respectively.

Montenegro Airlines signed an agreement with GE Commercial Aviation Services (GECAS) to lease two Embraer E-195 aircraft earlier this month. Deliveries are scheduled for May 2008 and May 2009.

Montrose Global Capital purchased two Airbus A310-300s (598, 695) with CF6-80C2A2 engines from Alafco Aviation Lease and Finance Company (ALAFCO). Both aircraft have leases attached to Air India through December 2008.
MSN 598 was built in 1992 and was acquired by ALAFCO in 2004 from Airbus Financial Services with a lease attached to Air India. MSN 695 was built in 1995 and was also acquired by ALAFCO in 2004 from Airbus Financial Services with a lease attached to Air India. Both aircraft will be placed on lease to Aerolineas Argentinas.

Oasis Leasing acquired an Airbus A321-100 (559) equipped with CFM56-5B2/P engines from Airbus Financial Services. The 1997-built aircraft has an eight-year lease attached to Alitalia.

Rwandair Express leased a Boeing 737-500 (25384) aircraft with CFM56-3C1 engines on a wet-lease basis from Air Malawi. The 1991-built ex-United Airlines aircraft was sold by Q Aviation in 2005 to Air Malawi. Rwandair Express is replacing an MD-82 aircraft, which had been wet-leased from Romanian carrier Jetran Air.

Safi Airways acquired a 1986-built Boeing 767-200ER (23745) with JT9D-7R4E engines from Air China.

Transaero agreed to purchase 10 Boeing 737-500s (28917, 28918, 28919, 28920, 28921, 28922, 28923, 28924, 28927, 28928) equipped with CFM56-3C1 engines from Con-tinental in a deal arranged by Bristol Associates. The transaction leaves Continental with five aircraft.

United Parcel Service completed the purchase of a McDonnell Douglas MD-11 (48455) with PW4462 engines from Central Air Leasing. The 
1992-built aircraft was returned from Varig in June. This is the 10th aircraft acquired from Central Air Leasing.

ASTAR Air Cargo finalised terms to purchase two DC-8-73F (46033, 46124) aircraft equipped with CFM56-2C engines and a spare engine currently leased from Bank of America’s leasing division.
Acquisition financing to ASTAR was arranged and is being provided by HSH Nordbank, New York. The aircraft are part of ASTAR’s current dedicated fleet assigned to DHL Express under an ACMI agreement expiring in 2019.

Australia-based Jetcraft Aviation leased two ATR-42-300Fs (24, 79) with PW120 engines from Commonwealth Bank of Australia. Both aircraft were purchased from Air Contractors. These ATR-42-300s become the first ATR aircraft dedicated to freight operations in the South Pacific region.
Planet Airways leased a Boeing 727-200F (19911) with JT8D-7B engines from Custom Air Transport.
Yangtze River Express leased a Boeing 747-400F (30761) with CF6-80C2B1Fs from China Airlines. The 2000-built aircraft had been in operation with China Airlines since delivery. 
Aelis Air Services
acquired a 1990-built Embraer 120ER (213) with PW118 engines from Regional of France.

SkyBridge acquired an Embraer 120ER (87) with PW118 engines from Aelis Air Services. The 1988-built aircraft was acquired by Aelis from Regional in April 2007.

Alliance Airlines acquired a 1996-built Fokker F-50 (20312) with PW125B engines from Mandarin Airlines. This is the third aircraft acquired from Mandarin Airlines this year.

Finnair finalised the sale of four ATR-72-200 (140, 162, 212, 324) aircraft with PW124B engines last month to ATR Leasing (WestAir Sweden). The aircraft are part of the of sub-sidiary Aero Airlines’ seven aircraft fleet.
Finnair said a sales profit of approximately €4.5m will be recorded for the second quarter and an over €1m sales profit for the third quarter of this year.
MSN 140 went on a four-year lease to JAT Airways, in a previously-announced transaction arranged by Skyways Aviation. South Korea’s Hansung Airways has agreed to lease MSN 212 and 324 from ATR Leasing, while MSN 162 is committed to an undisclosed carrier in Sweden. Finnair’s Aero Services will continue to operate three aircraft: MSN 174, 251, 332.

Island Aviation acquired a 1998-built Bombardier Dash 8Q-300 (491) with PW123 engines from Widerøe.

REX Regional Express (REX) purchased five Saab 340B aircraft (209, 275, 279, 285, 287) equipped with CT7-9B engines off-lease from two head-lessors.
MSN 209, 275, 279 and 285 were ex-Business Express aircraft owned by Cessna Finance (Textron), while Keycorp Leasing owned ex-Penair aircraft (MSN 287).  REX, which said it paid A$11.5m ($9.8m) for the five aircraft, had the five Saab 340Bs leased from Saab Aircraft Leasing, which were leased from two head lessors.

SOL Lineas Aereas leased a Saab 340A aircraft (123) with CT7-5A2 engines from Worldwide Aircraft Services. This is the third Saab 340A ex-Shuttle America SOL has acquired.

TRIP Linhas Aereas leased a 1993-built ATR-72-200 (352) with PW124B engines from ATR Asset Management. The 1993-built aircraft was previously owned and operated by CCM Airlines.