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AerVenture to Lease Six New Airbus A320 to TAP Portugal

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Written by editor

AerCap Holdings N.V. today announced that AerVenture Limited, a joint venture company owned by AerCap, LoadAir and Al Fawares, has signed agreements to lease six new Airbus A320-200 aircraft to the Portuguese national airline Transportes Aereos Portugueses (“TAP”) for a period of eight years. The aircraft are powered by CFM56 engines and are scheduled to be delivered in 2009.

AerCap Holdings N.V. today announced that AerVenture Limited, a joint venture company owned by AerCap, LoadAir and Al Fawares, has signed agreements to lease six new Airbus A320-200 aircraft to the Portuguese national airline Transportes Aereos Portugueses (“TAP”) for a period of eight years. The aircraft are powered by CFM56 engines and are scheduled to be delivered in 2009.

The six new A320s will be leased to TAP under an operating lease agreement and are part of the order for 70 A320 family aircraft that the joint venture company placed in December 2005.

Jose Viegas, Fleet Management Director of TAP said: “These additional A320s are a natural choice to meet TAP’s expansion and replacement plans. They perfectly fit our existing single aisle fleet and they have excellent records in terms of economics and efficiency, offering the best possible comfort for the passengers.”

Soeren Ferre, AerCap’s Head of Aircraft Marketing for Europe, Middle East, Africa and Asia Pacific, commented on the transaction: “We are delighted to strengthen our relationship with TAP. TAP is one of 15 airline clients we have added to our broad customer base since the end of 2006, thereby further diversifying our client portfolio which includes national flag carriers like TAP, low-cost operators, charter operators, niche-carriers and cargo operators worldwide.

The long term of the lease agreements with TAP is strong evidence of the robust aviation lease market in the current environment.”