Air Berlin PLC and Volito Aviation Services (“Volito Aviation”), on behalf of VGS Aircraft Holding (Ireland) Limited (“VGS”), have signed a package deal for two (2) new Airbus A320-200 and one (1) new Airbus A321-211.
VGS, through one of its wholly owned subsidiaries, Olbia Limited, has acquired two (2) Airbus A320-200 aircraft from Air Berlin PLC, via a purchase and leaseback transaction. The A320 aircraft, which are leased to Air Berlin until June 2012, are financed by GE Japan Corporation, PK AirFinance. The transaction closed in December 2010. The purchase and lease back transaction regarding the Airbus A321 is scheduled to close in May 2011.
Ulf Hüttmeyer, CFO of Air Berlin PLC stated: "We are pleased to have closed this valuable transaction with VGS and Volito Aviation. We have thus entered a new partnership and hope to build on the relationship between our two companies in the future.”
Siggi Kristinsson, President & CEO of Volito Aviation said: "We are delighted to have closed this transaction with Air Berlin. The transaction, which is an attractive one for Volito Aviation and VGS, is perfectly aligned with our strategic plan to grow the VGS portfolio by adding young narrowbody aircraft on lease to reliable customers.”
About VGS Aircraft Holding (Ireland) Limited
VGS is a company owned jointly by Volito Aviation AB and an affiliate of The Goldman Sachs Group, Inc. (“Goldman Sachs”). Volito Aviation AB and Goldman Sachs have an agreement to jointly grow their commercial jet aircraft portfolios. Volito Aviation Services AB and Volito Aviation Services (Ireland) Limited act jointly as servicers of the combined portfolio (“Volito Aviation”).
About airberlin
airberlin is Germany's second largest airline and has a workforce of 8,900 employees. In 2010 alone, airberlin received over 10 awards for service and quality. The fleet comprises of 169 aircraft with an average age of five years, making it one of the most modern fleets in Europe. The airline's state-of-the-art jets are highly fuel efficient, which contributes toward a long-term reduction in pollution emissions from aircraft. As one of the major European airlines, airberlin currently flies to 163 destinations in 39 countries. In 2010, airberlin transported 33.6 million passengers. airberlin has signed up for membership to the global airline alliance oneworld® and is expected to become a full member at the start of 2012. airberlin has offered flights under codeshare agreements with American Airlines and Finnair since November 2010.
Press Contact:
Yasmin Born
Deputy Director Corporate Communications
Tel.: + 49 30 34 34 15 00
Fax: + 49 30 34 34 15 09
Mail: yborn@airberlin.com
Siggi Kristinsson
President & CEO of Volito Aviation Services AB
Tel.: + 46 40 660 32 00
Fax: +46 40 30 23 50
Mail: siggi.kristinsson@volito.aero