Deucalion Capital VII Limited ("DC VII"), an aviation fund advised and management by DVB Bank AG, has sold four Boeing 777F freighter aircraft to DCM Deutsche Capital Management AG, a German issuing house based in Munich. DC VII had placed an order for a total of eight freighters with Boeing in November 2007.
The aircraft will be delivered in 2009 and 2010 under a long-term operating lease to AeroLogic, a joint venture cargo airline created by Lufthansa Cargo and DHL Express. The joint venture will commence flight operations from its home base at Leipzig/Halle Airport in the spring of 2009.
Bertrand Grabowski, Member of the Board of Managing Directors of DVB Bank AG, and responsible for Aviation added: “We are delighted with this first transaction with DCM. The quality of the aircraft and the strenghts of AeroLogic's sponsors is allowing DCM to bring to the KG market a transaction that will be well received in a market which, rightly so, is aiming to be more selective.”
Claus Hermuth, Chairman of the Management Board of DCM Deutsche Capital Management AG comments: "With the aircraft acquired from the Deucalion Funds, we have secured exposure to this type of aircraft for our current aviation fund, as well as for funds we will launch in the future. At the same time, we look forward to a successful long-term business relationship with DVB Bank."
Through its DCM GmbH & Co. Flugzeugfonds 1 KG aviation fund launched in July 2008, DCM Deutsche Capital Management AG (DCM) has been offering the opportunity to invest in a new Boeing 777F for the first time.