ICBC Leasing details ‘Air Berlin 18-aircraft deal’

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

ICBC Leasing, in an interview with CAO, has provided more details of the $700 million 18-aircraft Air Berlin deal, covering used and new narrowbody aircraft, announced last November.

The wholly-owned subsidiary of China's Industrial and Commercial Bank (ICBC), closed in December a sale and leaseback agreement with Air Berlin for two Airbus A319-100s for a period of 12 years.

Another six narrowbody aircraft, two Airbus A320-200s and four Boeing 737-800s, are being acquired from Air Berlin through 12-year sale and leaseback transactions. Three aircraft will deliver this year, the remaining three in 2012.

The 18-aircraft Air Berlin transaction also comprises outright sales on 10 more aircraft: four 737-800s and six A320-200s.

The Chinese lessor acquired two Air Berlin 737-800 future slot positions and placed them to Shenzhen Airlines for a 10-year operating lease term.

The remaining eight aircraft are also Air Berlin's future slots. ICBC Leasing says six A320-200s are being placed with China Southern Airlines on 12-years operating leases while the remaining two 737-800s remain unplaced.

As at February 2011, ICBC Leasing's portfolio comprised 63 aircraft. The leasing company aims to add 37 aircraft to its portfolio this year.