AirAsia Group transfers further nine aircraft to Fly Leasing and Incline B Aviation

    AirAsia Group completed (08-Aug-2018) the transfer of nine designated aircraft pursuant to the disposal of the group’s aircraft leasing business, Asia Aviation Capital, to BBAM Limited Partnership. The latest transaction sees the aircraft transferred to FLY Leasing and Incline B Aviation, with AirAsia Group receiving gross proceeds of USD146.6 million. To date, the group has transferred 39 aircraft with gross proceeds totalling USD501.6 million. AirAsia Group affirmed it is “on schedule to complete the planned staggered disposals” of the remaining 45 aircraft and 14 aircraft engines. Fly Leasing said it expects to complete the transfer of the remaining assets in the portfolio, comprising 20 additional A320-200 aircraft and seven engines on operating leases to the AirAsia Group and one A320-200 aircraft on operating lease to a third party airline, by the end 3Q2018. Fly Leasing also said it will have the option to purchase 20 A320neo family aircraft, not subject to lease, which begin delivering from the manufacturer in 2019. [more – original PR] [more – original PR – II]