The Lufthansa Group has provided more details on recent aircraft financing transactions closed on two Airbus aircraft.
The Group financed the first of 15 Airbus A380 in May under a 15-year French tax lease arranged by Société Générale Corporate & Investment Banking. Lufthansa says the amount of transaction is €112 million ($137 million). German banks Commerzbank and Deutsche Bank provided the debt along with Austrian bank Ober Bank on the delivery (MSN 38).
The Group also revealed that it financed a new Airbus A320-200 aircraft through a $43 million Japanese Operating Lease with a Call Option (JOLCO) transaction.
CAO reported earlier this week that Credit Agricole-Corporate Investment Bank (CA-CIB) closed the financing of two Airbus A320-200s for Lufthansa on 25 June and 28 June. CA-CIB acted as overall JOLCO arranger and debt arranger, underwriter and agent of the JOLCO structure combined with commercial debt.
The Group says it aims to finance this year's capital expenditure out of operating cash flow and generate free cash flow. In 2010, the Group is scheduled to take delivery of a total of 46 aircraft, including four A380s, five A330s, 19 A320s, nine Embraer 190s, six Bombardier CRJ900s and three Q400s. The Group says it has €4.6 billion total liquidity
Between 2011 and 2016, the Lufthansa Group will take delivery of another 100 new aircraft.