Deccan Aviation closes sell-leaseback agreement with Genesis Lease Ltd

21 Apr 2007

1
New York: Irish jet-leasing company Genesis Lease Ltd on Friday said it signed a purchase-and-leaseback agreement with Deccan Aviation Ltd., parent of Indian budget airliner Air Deccan, for two new Airbus A320-200 series aircraft. Financial terms of the 12-year deal were not disclosed.

The aircraft are due for delivery to Air Deccan at Airbus' Toulouse, France manufacturing facility in July and September.

Air Deccan is the second-largest airliner in India and currently operates a fleet of 19 Airbus A320 aircraft.

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