Thursday, August 11, 2011

Gulf Air in jets accord

MANAMA: Gulf Air and MC Aviation Partners (MCAP) have signed a purchase and lease back agreement for four new Airbus A320-200.

MCAP is the aircraft leasing and trading arm of Mitsubishi Corporation. All four aircraft are set to be delivered by the end of October.

"We are pleased to have completed this important transaction with MCAP and hope to build on this new partnership in the future," said Gulf Air chief executive officer Samer Majali.

"The deliveries of the four new aircraft, fully equipped with the latest inflight entertainment system and modern livery, support Gulf Air's growth and product enhancement strategy.

"The addition of these new aircraft will further reduce the average age of our fleet, which is now 6.2 years and by the year end we will have one of the youngest fleets in the region at 5.4 years," he added.

"We are delighted to announce this transaction with Gulf Air and hope it will be the start of a long and successful relationship between the two companies," said MCAP chief executive officer Tatsuo Sato.

"With the addition of these aircraft, our self-owned and managing portfolio will exceed 80.

"We are aggressively increasing our portfolio size.

"It is a pleasure to have a well-known airline with long history such as Gulf Air to join our list of lessees," Mr Sato added.

Source:   http://www.gulf-daily-news.com

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