Lessor Avolon closes more acquisitions from GECAS

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Dublin-based operating lessor Avolon Aerospace has acquired four narrowbodies from GECAS with a leases attached to Asian carriers.

The lessor purchased a pair of 2013-vintage A320s on lease to Japanese budget carrier Peach Aviation, which becomes a new customer.

One A320 was financed under the warehouse facility while the second aircraft was funded under a commercial loan from BNP Paribas, says a source.

Peach operates 13 A320s, Flightglobal’s Ascend Fleets database shows. The Japanese carrier also has four future deliveries from SMBC Aviation Capital.

Avolon also purchased an A320 unit with a lease attached to Garuda Indonesia’s Citilink subsidiary. The 2013-vintage aircraft was acquired from GECAS and is financed by BNP Paribas.

The transaction marks the second aircraft of the type acquired with a lease to Citilink this month. Earlier in June, Avolon Capital Partners – the joint-venture aircraft lessor formed by Avolon and Wells Fargo – closed an A320 acquisition from GECAS.

Avolon also closed on the acquisition of a Boeing 737-800 aircraft leased to Chinese carrier Xiamen Airlines. The 2011-built aircraft transaction was financed in a portfolio facility comprising Deutsche Bank, HSBC and National Australia Bank.