Genesis Lease announces purchase/leaseback of aircraft with Air Deccan

Limerick-based Genesis Lease Limited, which had an IPO on the New York Stock Exchange in December 2006, announced today that it has signed definitive agreements with Deccan Aviation Limited of Bangalore, India for the purchase and leaseback under long term contracts of two new Airbus A320-200 series aircraft.
The aircraft are scheduled to be delivered to Air Deccan at Airbus' manufacturing facility in Toulouse, France in July and September of 2007.
Commenting on the transaction, Genesis Lease Limited Chief Commercial Officer, Cian Dooley, said, "We are delighted to announce the addition of these high quality aircraft to the Genesis Lease portfolio and to welcome one of India's leading airlines, Air Deccan, as a new customer on the basis of a purchase and 12-year lease back transaction on mutually attractive economic terms."
20/04/07 FinFacts Ireland, Ireland

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Categories: Air Deccan Apr 2007, Foreign Apr 2007