Chorus Aviation Capital has entered into a sale-leaseback agreement with AirBaltic to acquire five new Airbus A220-300.
This transaction brings its customer base to 15 airlines on six continents. Two deliveries are anticipated in the fourth quarter of 2019 with the balance to be completed by the end of the third quarter in 2020.
Steve Ridolfi, president, Chorus Aviation Capital, said: “We are very pleased to welcome Latvia’s flag carrier, airBaltic to our family of airlines, and to introduce the Airbus A220 aircraft to our product offering.
“To date, we’ve grown our leasing portfolio to 601 aircraft acquired at approximately $1.3 billion with approximately $925 million in future contract lease revenue. The pipeline of opportunities remains strong.”
Upon the completion of this transaction, and one other aircraft pending delivery to other customers, CAC’s portfolio will include 43 turboprops and 17 regional jets. When combined with the planned aircraft leased under the Capacity Purchase Agreement with Air Canada, Chorus’ fleet of leased aircraft will reach 131 aircraft valued at approximately $2.2 billion.