Lionhart buys four used A320 aircraft from Air Berlin
The Canada-based company Lionhart Aviation Limited (Lionhart) has announced the purchase of four Airbus A320s from Air Berlin, Germany's second largest airline. The plan is for two aircraft to be leased to Virgin America Inc. and two to Azerbaijan Airlines immediately after the transfer. The deal is likely to be concluded in April 2010.
"We are looking forward to finalising our first transaction with Lionhart. This deal rein-forces belief in our policy of constantly maintaining a modern fleet and upgrading the Air Berlin fleet accordingly. We hope to build on the relationship between our two companies in the future. The sale of the four Airbus A320s means a considerable reduction in net liabilities for Air Berlin. This is of great importance to us", said Ulf Hќttmeyer, CFO at Air Berlin.
"We believe that this transaction represents the beginning of many opportunities for cooperation and further deals with Air Berlin. Against the background of our efforts to build up an operating-lease portfolio of the highest quality, we consider Air Berlin?s diversified fleet of first-class commercial aircraft an extremely interesting environment. We are pleased to be working in partnership with Air Berlin and look forward to a long-lasting relationship that is profitable for both parties", commented Steven Layne, EVP Lionhart.
About Lionhart AviationLionhart Aviation Limited has its headquarters in Toronto (Canada) and is run by a team of aviation experts with many years of experience. Lionhart is focused on developing a portfolio of high-value operating leases as assets. Lionhart is therefore in a position to offer a unique solution for combining infrastructure and project financing with the flexibility of this popular leasing structure. Founded on private equity, Lionhart subscribed to an aggressive growth strategy for 2010 by concentrating on creating high-value assets in the form of both new and used commercial aircraft and unique investment options.
About Air Berlin Air Berlin is Germany?s second largest airline. The group has been listed on the stock exchange since May 2006. Last year Air Berlin carried a total of 27.9 million passengers worldwide. The company currently has approx. 8,200 employees. Every year Air Berlin receives more than 10 awards for service and quality. With an average age of just 5.5 years, Air Berlin has one of the newest fleets in Europe. Air Berlin?s modern aircraft are extremely fuel-efficient, thereby provid-ing a lasting contribution to the reduction of aviation emissions.
Date modified:
25.03.2010