MCAP funds A320s with internal cash

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Mitsubishi Corporation Aviation Partners (MCAP) will fund its new Airbus A320 acquisition from Wizz Air via group internal funding.

The operating lessor agreed a sale and leaseback transaction for three A320s with Wizz Air last week.

According to MCAP, two aircraft will be delivered next year, while the remaining A320 is scheduled for 2014.

The deal marks the first transaction between the two parties. MCAP chief executive Hiroshi Nakanishi says the transaction allows the operating lessor to enter the central and eastern European region.

According to Flightglobal's Ascend Online database, Wizz Air operates a fleet of 37 A320s, with firm orders for another 76 units plus 45 options.