ORIX Aviation reported seven operating lease contracts and four aircraft sales for the first three months of 2011.
The lessor completed the sale of three Boeing 737-300s to KV Aviation. The aircraft, MSNs 24163, 24164 and 24167, are equipped with CFM56-3C1 engines. All three 1989-vintage aircraft are leased through June 2013, April 2013 and August 2013, respectively.
ORIX Aviation also confirmed the sale of a 1993-vintage Boeing 747-400, MSN 27068, with PW4056 engines to Aircastle. The aircraft was operated by Singapore Airlines since new.
During the quarter, the lessor signed five lease extensions with operators. It extended the lease of an Airbus A320-200, MSN 249, with Air Moldova until 2012. It signed lease extension for two Boeing 737-300s, MSNs 23388 & 23401, with Southwest Airlines until 2013 as well as one 737-300, MSN 27834 with Jet Time until 2012 and one 737-500, MSN 29235, with Aerosvit Airlines until 2016.
ORIX Aviation also placed two 737-300SF aircraft with Northern Air Cargo and Chisholm Enterprises. MSN 23553, a 1987-vintage aircraft with CFM56-3B1 engines, is leased to Northern Air Cargo until 2012 while MSN 24711, a 1990-vintage aircraft with CFM56-3B1 engines, to Chisholm Enterprises until 2013.