Macquarie AirFinance closes lease and purchase deal with Tyrolean Airways

Dublin, 18 Oct 2012

Macquarie AirFinance, a global aircraft leasing company based in Dublin, Ireland, announced that it has finalised contracts with Tyrolean Airways for the lease of five A320-200s and for the acquisition of three of Tyrolean’s 737-800s. Macquarie AirFinance is well advanced in the process of placing the 737-800s with new customers for delivery in spring 2013.

John Willingham, Chief Executive Officer of Macquarie AirFinance, commented: “It gives me great pleasure to welcome Tyrolean Airways as our newest customer. We have been working on this transaction for some time, so I am delighted that we have been able to bring the discussions to fruition.”

Mr. Willingham added: “At Macquarie AirFinance we don’t shy away from complexity. Not every operating lessor could have executed on this transaction, but the strength of our platform and the depth of our customer relationships are such that we were able to convince Tyrolean of our credentials to make this happen. The A320 aspect of this transaction involved a blend of placement of three of our own aircraft and two managed aircraft. The latter placements require engine conversions from Dual Annular Combustors (DAC) to Single Annular Combustors (SAC) – not a simple process. Further, we had to negotiate with another of our customers for early lease terminations on two of the A320 aircraft, something we were able to achieve through the extension of an A321 with that same customer. In parallel with the lease negotiations, as part of an open, competitive process run by Tyrolean, we separately negotiated the purchase from Tyrolean of three of their 737-800 aircraft which will be phased out as part of Tyrolean’s fleet transition to A320.” Mr. Willingham went on to say: “To be able to bring all these elements together to meet Tyrolean’s timeframe and commercial requirements is a great testament to the skills and experience of the Macquarie AirFinance team and to the strength of our relationship with Tyrolean”.

The first aircraft, a 2003-model, CFM565B4/P-powered A320-200 (MSN 1937) has already been delivered to Tyrolean.

The other four A320 aircraft, all with the same engine type, will be delivered by the end of the first quarter of 2013. The aircraft are MSN 1504, MSN 1553, MSN 1678, and MSN 1735.

The 737-800 aircraft to be purchased from Tyrolean are MSNs 33833, 34262 and 33834.

About Macquarie AirFinance

Macquarie AirFinance is a global aircraft leasing company providing aircraft and capital to the world’s commercial airlines, and advisory and management services to aircraft owners. Established in 2006 and headquartered in Dublin, Ireland, the company currently owns, manages or has commitments for 151 jet aircraft leased to 75 operators in 41 countries, across 6 continents.

For further information, please contact:

Stephen Yan
Corporate Communications
Macquarie Group
Tel: +1 (212) 231 1310