Hamburger EmissionsHaus GmbH & Cie. KG has acquired 11 Bombardier Dash8Q-400 aircraft from Bombardier, which were originally ordered by UK regional operator Flybe.
The aircraft portfolio ranges with aircraft built in Ocotber 2007 to July 2009. The 11 aircraft are leased to Flybe under an operating agreement for an initial term of 10 years with an option to extend for two years.
Debt financing and equity participation was successfully arranged jointly between Hamburger EmissionsHaus GmbH & Cie. KG of Hamburg, Germany and Airfund Corporation of the US.
Jörn-Hinnerk Mennerich and Gunnar Dittmann, Partners at HEH said: "We are excited about our entry into the commercial aircraft leasing market with a transaction investing in the world's leading turboprop on lease to one of Europe's largest, and financially healthiest, regional airlines."
Hamburger EmissionsHaus GmbH also retained the services of Geneva-based Fintech Aviation Services to manage the portfolio.
"We have retained one of the Europe's most qualified technical managers to protect our investment during the lease term," commentsHEH.
"The relative number of transactions and speed at which they are being closed, especially in the credit limited market of today, illustrates the confidence that the markets have in HEH's ability to perform."
Oliver Stuart-Menteth, MD of Fintech, says: "We are delighted that HEH has chosen Fintech in order to provide a cost effective programme that will ultimately protect residual value and ensure marketability."