STAMFORD, Conn., Feb. 7, 2011 — Aircastle Limited (the “Company” or “Aircastle”) announced today that it delivered to South African Airways (“SAA”) the first of six new Airbus Model A330-200 aircraft scheduled for delivery this year. The aircraft will be equipped with latest-generation Rolls-Royce Trent 772B engines.
Debt financing for this purchase was arranged and provided by Sumitomo Mitsui Banking Corporation and supported by a guarantee from Compagnie Francaise d’Assurance pour le Commerce Exterieur (COFACE), the French export credit agency. This debt bears interest at a rate of 3.78% per annum and will be repaid over twelve years.
Ron Wainshal, Chief Executive Officer of Aircastle, said: “We are building a significant relationship with South African Airways and are proud to support its fleet modernization program with these six new A330-200s. These aircraft will provide the airline with significant improvements in fuel efficiency and operating costs and its passengers with a comfortable, state-of-the-art cabin.”
Wainshal added: “With this delivery, we’re beginning to benefit from approximately $700 million of attractive built-in asset growth from our Airbus program over the next 15 months. This expansion of our asset base — combined with approximately $500 million of new investments we completed during 2010 — positions us to grow our earnings in 2011 and beyond. With our strong balance sheet and proven access to diverse sources of capital, we are poised to pursue new transaction opportunities and capitalize on the steadily improving demand for passenger and cargo aircraft.”
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The family was returning to North Dakota from Scottsdale, Arizona, and had stopped in Utah to refuel.
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The aircraft has two asymmetrical fuselages.
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Wife, two children died in Utah incident
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Samantha Hayes was driving a lawn mower at the Broken Bow Airport in Oklahoma when she was struck by a plane operated by pilot James Baxter.
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A UH-1 helicopter from F.E. Warren Air Force Base crashed and flipped upside down on a runway at Cheyenne Regional Airport on Wednesday morning. A witness says watching it happen was “pretty scary.”
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TWISP, Wash. — Okanogan County Search and Rescue found one dead after a plane crashed in a rugged hillside southeast of Twisp yesterday. On Oct. 1 around 10:30 a.m., the Okanogan County Sheriff’s Office were notified of a plane crash south of Finley Canyon into a hill near Twisp. Search and Rescue contacted a pilot
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Eight manatees rehabilitated at the Cincinnati and Columbus zoos flew to Florida in special-made containers. Five more were brought to Ohio
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Cisewski said it’s the second time he’s personally witnessed a plane land on the county highway.
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Last month, India became the first country to put a spacecraft near the lunar south pole — breaking China’s record for the southernmost lunar landing. Now, the so-called father of China’s lunar exploration program, Ouyang Ziyuan, said claims about the accomplishment are overstated. Time reports: Z…
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He was president of Lake Placid Airways, which runs charter and scenic flights.
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A woman riding a lawn mower was killed after being hit by the wing of an airplane Friday afternoon, according to Oklahoma Highway Patrol.
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An Army AH-64E Apache helicopter made a hard landing after striking power lines over the Columbia River on Friday afternoon, sparking a wildfire and causing State Route 243 near Beverly
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Russ Francis was a star player for San Francisco 49ers and New England Patriots.
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Naval Air Station Lemoore is investigating why a helicopter had difficulties landing while rescuing a hiker with a broken ankle in Madera.
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Former NFL Pro Bowl tight end Russ Francis was killed in a plane crash in upstate New York on Sunday, his family announced on social media.
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An Air Antilles turboprop had an accident while landing in St. Barts, as it hit a parked helicopter. How could something like this happen?
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Former Pro-Bowl tight end Russ Francis was killed in a plane crash in Lake Placid.
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Four people died Sunday night when the small plane they were in crashed just north of Moab
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