BBAM-managed lessors Incline B and FLY Leasing will not take five aircraft from their March 2018 deal to acquire a total of 38 aircraft from AirAsia, as the sale agreement has lapsed.

AirAsia disclosed in a stock exchange announcement that the five unidentified aircraft are leased to carriers outside the AirAsia Group, and have a collective estimated value of around $174 million.

Flight Fleets Analyzer shows that AirAsia’s leasing unit, Asia Aviation Capital, is still listed as the manager of five Airbus A320s, two of which are leased to Pakistan International Airlines (MSNs 2926 and 2944), two to Viva Aerobus (8024 and 5027) and one to LongJiang Airlines (5918).

A stock exchange disclosure from March 2018 shows that Incline B intended to purchase the two jets leased to VivaAerobus and one to PIA, as well as a Boeing 737-800 leased to Norwegian. That was in addition to 33 A320ceos operated by AirAsia and its affiliates, and seven aircraft engines.

Similarly, FLY committed to purchasing one A320 leased to PIA, in addition to 33 A320s operated by the AirAsia Group.

BBAM, via its Herondell vehicle, also agreed to buy six A320ceos and seven A320neos in the deal, which are operated by AirAsia and Thai AirAsia.

FLY chief executive Colm Barrington said in October it had completed the acquisition of its 33 jets, and had turned its attention to the 21 new A320neos it will acquire from AirAsia’s delivery stream between 2019 and 2021.

In late December, AirAsia announced a second aircraft portfolio sale, with an entity indirectly controlled by Castlelake set to buy 25 A320s in a $768 million deal.

Subject to customary conditions, that deal is expected to close during the second quarter of 2019.

Source: Cirium Dashboard