Lionhart buys four used A320 aircraft from Air Berlin

The Canada-based company Lionhart Aviation Limited (Lionhart) has announced the purchase of four Airbus A320s from Air Berlin, Germany's second largest airline. The plan is for two aircraft to be leased to Virgin America Inc. and two to Azerbaijan Airlines immediately after the transfer. The deal is likely to be concluded in April 2010.

"We are looking forward to finalising our first transaction with Lionhart. This deal rein-forces belief in our policy of constantly maintaining a modern fleet and upgrading the Air Berlin fleet accordingly. We hope to build on the relationship between our two companies in the future. The sale of the four Airbus A320s means a considerable reduction in net liabilities for Air Berlin. This is of great importance to us", said Ulf Hüttmeyer, CFO at Air Berlin.

"We believe that this transaction represents the beginning of many opportunities for cooperation and further deals with Air Berlin. Against the background of our efforts to build up an operating-lease portfolio of the highest quality, we consider Air Berlin’s diversified fleet of first-class commercial aircraft an extremely interesting environment. We are pleased to be working in partnership with Air Berlin and look forward to a long-lasting relationship that is profitable for both parties", commented Steven Layne, EVP Lionhart.