Genesis signs aircraft purchase, lease

Tags :Aircraft & Fleet Plans, Air Deccan


NEW YORK (AFX) - Irish jet-leasing company Genesis Lease Ltd 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 in late Apr-07.

The aircraft are expected to be delivered to Air Deccan at Airbus' Toulouse, France manufacturing facility in Jul-07 and Sep-07. Financial terms of the 12-year deal were not disclosed.

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

Shares of Genesis Lease Ltd. rose 19 cents to $25.89 in morning trading on the New York Stock Exchange.

Date posted: 04-May-07

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