Monarch sells A300/A320 aircraft

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Monarch Airlines has sold four Airbus A300-600Rs and one A320 aircraft to Deucalion Capital II/ Mon A300 Leasing under a sale and leaseback transaction.

The CF6-80C2A5 powered A300s are MSNs 540, 556, 604 and 605. They were delivered new to Monarch between 1990 and 1991.

The transaction also included one CFM56-5A3 powered A320, MSN 0379, which was delivered in 1994.

Deucalion Capital II/ Mon A300 Leasing, which was advised by DVB Bank, acquired the assets for tear down, and all of the aircraft are expected to be disassembled at the end of the lease terms. The acquisitions were funded with equity only.

In May Monarch approached the market seeking bids for seven-year sale and leaseback transactions on two A321s, according to banking sources.