German Operating Aircraft Leasing (GOAL) closed the purchased of a second batch of six Airbus A319s from UK budget carrier EasyJet.
The aircraft (MSNs 2492, 2503, 2514, 2527, 2528, 2538) were acquired under a sale and leaseback transaction with a tenor of more than five years.
The lease rates are between $215,453 and $218,909 a month, according to the prospectus.
GOAL purchased another batch of aircraft in January this year. The first aircraft transaction closed on 23 January 2013. The aircraft (MSN 2289) was acquired for €13.9 million ($18.1 million) and is being leased back to EasyJet for a period of five years and three months, for a monthly rate of $222,841.
EasyJet is the debt provider in the transaction. The loan amounted to $13.575 million and the residual value at the termination of the loan agreement is expected to be approximately $4.8 million.
The second aircraft (MSN 2300) is being leased at $220,541 a month through June 2018. The rental rate of the third aircraft (MSN 2360) is t $216,504 a month through August 2018.The fourth aircraft (MSN 2412) is being leased at $210,793 a month through November 2018, while the fifth aircraft (MSN 2477) is being leased at $211,055 a month through May 2018. The final aircraft (MSN 2481) is being leased at $210,459 a month through June 2018.
Initiator KG Allgemeine Leasing (KGAL) launched a fund, SkyClass 58, in the German Kommanditgesellschaft (KG) market in the first quarter of this year to invest in the A319 model.
The fund is expected to have a five-an- a- half year tenor. Under SkyClass 58, investors can participate with a €10,000 minimum investment. Annual distributions are 8% over the period. The fund is still open to investors, and demand for the aircraft type has been "surprisingly high", according to a source.
"More or less all A319s have been allocated," says the source.
GOAL is the remarketing and asset manager in the transaction.