Genesis Lease Limited Adds New Airbus A321 Aircraft to Its Portfolio
22-Jul-2009 |
Genesis Lease Limited announced that it has acquired a new Airbus A321 series passenger aircraft, manufactured in July 2009, and contracted it on lease to US Airways. Debt financing for the acquisition was provided through the Company's $1 billion credit facility.
This acquisition now means Genesis has 55 aircraft on lease to 36 airline customers in 21 countries.
Commenting on the transaction, Genesis Lease Limited's Chief Executive Officer, John McMahon, said, "This acquisition is consistent with our long-term goal of building and maintaining a portfolio of the most popular, modern, fuel-efficient, commercial aircraft."
Genesis' Chief Commercial Officer, Cian Dooley, added, "Maintaining a cost effective fleet has become increasingly critical for commercial carriers as they seek to balance profitability with high quality and affordable travel. We are delighted to add US Airways as a new customer and to support their fleet renewal program."
The Airbus A321 is the largest member of the Airbus A320 family of aircraft. It is a popular twin-engine, single aisle aircraft with over 530 aircraft delivered to date and over 230 on order. The A321 aircraft already offers excellent fuel efficiency and this model is equipped with the latest IAE V2500 SelectOne(tm) engines that provide further fuel efficiencies over earlier models.
(c) Centre for Asia Pacific Aviation. Date posted: 22-Jul-09
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Genesis Lease Limited Adds New Airbus A321 Aircraft to Its Portfolio 
