26 February 2014
Aircastle Ltd. (NYSE: AYR) said it has reached an agreement with LATAM Airlines Group S.A. to enter into purchase and leaseback transactions involving eight Boeing 777-300ER aircraft.
The first group of four aircraft, which were manufactured in 2012, is expected to close early in the second quarter of 2014 with an average lease term of 60 months. The second group of aircraft, which were manufactured in 2008, is expected to be purchased by Aircastle once the existing financings are repaid and will be leased back to LATAM with lease terms expiring in 2017 and 2018.
Aircastle Ltd. acquires, leases and sells commercial jet aircraft to airlines throughout the world. As of December 31, 2013, Aircastle´s aircraft portfolio consisted of 162 aircraft on lease with 64 customers located in 37 countries.
LATAM Airlines Group S.A. is the new name given to LAN Airlines S.A. as a result of its association with TAM S.A. Its website is at www.latamairlinesgroup.net.