Tue, Oct 14, 2008
Aircraft Lessor Delivered 15 Planes In Quarter
Aviation Capital Group, one of the world's Top Tier aircraft
lessors, reported its activity for the third quarter on Monday.
ACG ended the quarter with the delivery of the first of two new
Airbus A330-200s to Avianca Airlines, the national carrier of
Colombia. The airplane was delivered September 30; the second will
be delivered in November.
All told, the company handled transactions -- purchases, and new
or extended lease agreements for 15 aircraft, most of them Boeing
737s. The company also handled four transactions for A320 Family
aircraft, as well as the sale of a Boeing 727 to an unidentified
customer.
ACG also reported orders it placed at the recent Farnborough
International Air Show for the quarter. Those included 25 shipsets
of CFM-56 engines for $325 million, as well as 25 sets of V2500
turbofans at over $400 million, both types for Airbus A320
aircraft. The company also placed a $1.8 billion order for 23
Airbus A320s, as well as a $934 million order for 15 Boeing
773-700s.
The aircraft orders place ACG second among the world's lessors
with a backlog of A320s and 737s, according to the company.
"ACG continues its solid performance for the year," said R.
Stephen Hannahs, group managing director and CEO of ACG. "These
orders fit our business model of taking the long view through
turbulent times, a benefit we have with our own management outlook
and the ownership of a financially solid and conservative parent
company. ACG is on track for its 19th consecutive profitable year.
Our investment-grade credit rating remains unchanged despite the
turmoil in the capital markets, an endorsement of our business
strategy and conservative business model."
Aviation Capital Group is owner/lessor and portfolio manager of
a diversified fleet of commercial jet aircraft leased to the
world's leading airlines. Its portfolio includes 234 aircraft
leased to 93 airlines in 40 countries with an additional 155
aircraft on order with Boeing and Airbus.
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