Aircraft asset manager Aviation Capital Group (“ACG”) announced that the acquisition of a portfolio of Airbus A320neo aircraft from funds managed by Air Lease Corporation (“ALC”). The portfolio comprises five aircraft, each of which is on lease to Spirit Airlines.
The acquisition of these aircraft, which are powered by the ultra-efficient Pratt & Whitney GTF engines, complements ACG’s deliveries to Spirit Airlines from ACG’s orderbook with Airbus.
“We are pleased to announce this sale to ACG of five Airbus A320neo aircraft owned by funds that are exclusively managed by ALC,” said David Beker, Senior Vice President, Marketing and Head of Aircraft Sales & Trading of Air Lease Corporation."
“We appreciate the close collaboration with the ACG team who worked effectively and efficiently to complete this transaction which was important to our investors.”
Rob Downes, SVP and Head of Aircraft Trading at ACG, commented,
“We are delighted to close our first transaction with the ALC team, and equally delighted to further expand our strong relationship with a key customer in Spirit Airlines.”
In an another development, the Aviation Capital Group also announced that it has entered into a long-term lease with TAAG Angola Airlines for four new Airbus A220-300 aircraft. The aircraft are scheduled to be delivered to TAAG in 2025 from ACG’s order book with Airbus as well.
Tom Baker, CEO and President of ACG said,
“On behalf of ACG, we’re truly honored and proud to be a business partner of TAAG Angola Airlines, supporting its growth and expansion plans with the modern and environmentally friendly A220-300 aircraft."
"This state-of-the-art equipment, with its comfort, low noise and fuel economy characteristics will support TAAG’s mission to reopen markets, tap into new destinations and increase the connectivity options with more frequencies.”
Eduardo Fairen, CEO of TAAG Angola Airlines said,
“The incorporation of four new A220 aircraft under the agreement with ACG is a clear sign of our international credibility and a major milestone in renewing the TAAG fleet. We are deeply committed to growing the company by leveraging our market share and destination portfolio."
"Our passengers will benefit from higher connectivity options while planning their trips and a greater flight experience overall, as the Airbus A220 is a smart, tech-advanced equipment suitable for nowadays gadgets.”
