German flag-carrier Lufthansa has completed a sale and leaseback agreement involving 12 Airbus A320 family aircraft.
The agreement with Clover Aviation Capital and long-term business partner Babcock & Brown Aircraft Management (BBAM) has generated proceeds of $650 million for the airline.
In a statement on December 15, 2023, Lufthansa confirmed that the 12 Airbus A320 family aircraft are currently operated by itself, Lufthansa CityLine and Eurowings.聽
The aircraft are all up to two years old and will be leased back to Lufthansa for a term of 72 months.
In a separate by Clover Aviation Capital, the firm announced that its sale and leaseback transaction includes four A320neo aircraft and three A321neos.聽
鈥淲e are delighted to establish a new relationship with Lufthansa, as one of the world精东影业 leading airline groups,鈥 Haiyan Zheng, Executive Vice President, Head of Airline Marketing and Head of Acquisition and Trading of Clover Aviation Capital said. 鈥淚 would like to thank all involved for their hard work and commitment to this transaction and we look forward to continuing to support Lufthansa for years to come.鈥
The transaction reflects the Lufthansa Group精东影业 strategy of financing investments in new aircraft through a mix of cash, Japanese Operating Leases (JOLCOs) and standard operating leases.
鈥淭he sale and leaseback supports the modernization of the fleet of the Lufthansa Group Airlines. New and modern aircraft lower fuel consumption, reduce emissions, and improve ex fuel unit costs,鈥 Lufthansa said in the statement.聽
