GE Capital Aviation Services signs deal with Air Berlin for sale leaseback of 4 Airbus A320s

The four aircraft will be delivered from Air Berlin’s existing order book with Airbus, and all will be equipped with CFM56 engines. The aircraft will be delivered in 2010.

Air Berlin, based out of Berlin, Germany, has a fleet of 131 aircraft. The airline was formed in 1978 and operates extensive service to 129 destinations within Germany, Europe and throughout the world from 21 German airports. It is the second largest airline in Germany. Ulf Hüttmeyer, CFO of Air Berlin PLC commented: “This deal is an example of a longstanding relationship with GECAS, a good partner of Air Berlin, and now our biggest lessor.”

Commenting on the transaction, GECAS President and CEO, Norman C.T. Liu said: “This deal is another vote of confidence from GECAS in the Air Berlin business model. We are pleased to be able to help this leading European operator grow their operations and expand our relationship.”