Aircastle has repossessed its 10 A320-200 aircraft that were previously on lease to Avianca Brazil. The 10 A320-200 aircraft are now transitioning to committed long-term leases with a major international carrier, the lessor confirmed.
Mike Inglese, Aircastle's chief executive officer, said: "We are pleased to have reached an important milestone in the transition of these aircraft to a new global operator. In line with our expectations that these highly in-demand modern aircraft would be quickly placed, we now anticipate that these aircraft will return to service on their new leases during the current quarter."
In a recent update, Cowen & Company, expressed its confidence the aircraft will be redeployed despite the lack of a delivery date, however it also notes that Aircastle is also exposed to Jet Airways. "Jet Airways is attracting notable airline investors to assist in their restructuring, although we remain cautious. Aircastle will retain the leases with Jet Airways for now."