ILFC most exposed to Malév fleet

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

International Lease Finance Corp (ILFC) is the lessor with the largest exposure to the 21-aircraft fleet belonging to Malév, which suspended operations this morning due to financial difficulties.

Malév operated 17 Boeing 737-600/700/800 aircraft on operating leases from ILFC and Macquarie AirFinance along with two Bombardier Q400s.

Last month Malév told Flightglobal Finance it was in discussions with operating lessors to extend the leases on six 737-600s, seven 737-700s and three 737-800s with ILFC. The fleet has leases expiring between February 2012 and 2013.

CFO Tamas Pergel said Malév was looking to extend leases for four years on average.

"The process has not been finished yet. The Ministry is continuously monitoring the process and is being involved in the finalisation," he told Flightglobal earlier this week.

Malév agreed to purchase the four Q400s off lease in October. The ex-SAS Commuter aircraft were built in 2002 and have been in operation at Malév since 2009 under sublease contracts.

The Hungarian flag carrier was also in the market to trying to sell one Boeing 767-200ER and one CRJ200ER aircraft to generate funds.