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American Airlines Enters into Sale-Leaseback Arrangement with AerCap

Travel News Asia Latest Travel News Podcasts Videos Monday, 18 July 2011

American Airlines has entered into a sale-leaseback arrangement with AerCap, a leading independent aircraft leasing company, to finance up to 35 Boeing 737-800 Next Generation aircraft, including 29 firm deliveries, scheduled to be delivered to American.

Of the 29 firm deliveries, 26 are previously ordered aircraft and three are newly ordered aircraft. The arrangement also covers six Boeing 737-800 Next Generation aircraft subject to purchase rights that, if exercised by American, would be scheduled for delivery in 2013 2014.

AerCap will purchase the aircraft from American and immediately lease the aircraft back to American under a sale-leaseback financing arrangement.

"With this major aircraft transaction, we will deepen our relationship with one of the world's leading airlines. Furthermore, this transaction will materially increase the number of Boeing 737-800 aircraft in our portfolio, one of the most in-demand and fuel-efficient aircraft in the world," said Aengus Kelly, Chief Executive Officer of AerCap.

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