airberlin and GE Capital Aviation Services agree to a Package Deal for 12 Aircraft

GE Capital Aviation Services and airberlin announced an agreement for the financing of 12 new aircraft – covering 5* Airbus A320, 3* Airbus A321 and 4* Boeing 737-800, all equipped with CFM engines. This sale-and-lease-back transaction is covering deliveries due in the first three quarters of 2012. The total deal size is approximately USD 1 bn in list prices.

“airberlin has been one of our leading European customers for the past 10 years. We feel that they are in a very strong position to grow successfully. We look forward to delivering on our commitment to finance these new aircraft deliveries in 2012.” commented GECAS President and CEO, Norman C.T. Liu.

“We are pleased to announce this important transaction for airberlin with our biggest lessor GE Capital Aviation Services. This additional financing package with GE Capital Aviation Services underlines our continuing confidence in GE Capital Aviation Services as a strong and reliable partner and clearly indicates the excellent and trustful relationship which has been build up for many years. We highly value this transaction as it is significantly enhancing airberlin’s financing portfolio by securing the aircraft financing needs until Q3 2012.” commented Ulf Hüttmeyer, CFO Air Berlin PLC.