(Stamford, Conn., December 7, 2009) -- Aircastle Limited (NYSE: AYR) announced today that one of its subsidiaries has taken delivery of a new Airbus A330-200 aircraft on long-term lease to Aerovias del Continente Americano ("Avianca"). This is Aircastle's second new A330 transaction this year with Avianca, the flag carrier of Colombia and one of the largest airlines in Latin America.
Debt financing for this aircraft purchase was arranged and provided by Calyon and supported by a guarantee from Compagnie Francaise d'Assurance pour le Commerce Exterieur ("Coface"), the French export credit agency ("ECA"). This aircraft is an advancement of one of Aircastle's new A330 aircraft order positions and the second new A330 placed with Avianca, with ten additional aircraft currently scheduled to deliver from Airbus between 2010 and 2012.
Ron Wainshal, Aircastle's Chief Executive Officer commented, "We're pleased to build on our strong relationship with Avianca and to participate in its fleet renewal program. This aircraft delivery took place as Avianca celebrates its 90th anniversary, and we congratulate them for reaching this significant milestone. This is our second ECA-supported financing with Coface and the latest in long line of transactions with Calyon. We look forward to doing more such business and are excited about the opportunities for growth that we see ahead as the global markets recover."
Fabio Villegas Ramirez, Avianca's CEO noted, "Avianca moves ahead with the process to renew its fleet, and will incorporate its fifth Airbus A330-200. This aircraft seats 252 passengers 30 in business class and 222 in economy class. The aircraft will be assigned to cover flights between Colombia and the United States, Latin America and Europe. This new A330, which was leased from Aircastle, allows us to strengthen our commercial ties with this world leader in financial services and aircraft leasing."
Related Research on ASDReports.com: