Avinco places Air Austral 777-200ER with Orenair

Aircraft trading and remarketing specialist Avinco has arranged the sale of a 777-200ER aircraft to a fund managed by TPG Credit and arranged the onward lease to Orenair on behalf of Air Austral.

The 1999 vintage aircraft (MSN28676) was owned by Air Austral (La Reunion) and sold to a fund managed by TPG Credit upon lease delivery to Russia-based airline Orenair after a heavy airframe check at Orly, France. Orenair has previously taken delivery of two sistership ex-Air Austral 777-200ERs leased from ILFC.

“The Pratt-powered 777-200ER market is extremely niche so we are delighted to have found a solution for the continued operation of this aircraft. This deal exercised both our lease placement and cash sale placement capabilities and involved three parties, so was a complex deal to manage. This is the third aircraft we have successfully sold for Air Austral and our second placement in Russia this year.” said Francois Gautier, CEO of Avinco