GMT Global Republic Aviation (GMT Global) has closed its first deal as an Irish-based company. GMT, which was formed to expand the aviation business of Republic Aviation in Aurora Co, acquired a 1996 Airbus A330-300 aircraft from BCI Aircraft Leasing. The aircraft is currently leased for five years to LTU, which is a part of the Air Berlin Group.
This acquisition increases GMT Global's fleet to 16 wide-body aircraft. This deal also marks the company's first aircraft to be leased to a German operator.
"We are extremely pleased to count LTU as one of our clients and to have a presence in Germany," says Paul Mason, Chief Executive Officer of GMT Global. "We now have four A330-300s in our fleet, and this acquisition reflects our strategy of buying planes that are very much in demand. It also demonstrates that whatever the situation in the global financial and credit markets, we can identify and execute opportunities to increase the fleet."