LATAM And Fly Agree Sale And Leaseback

LATAM Airlines has sold a 777-300ER to leasing company Fly Leasing, which it will lease back from the company. The airline group will also sell and lease back a new 787-8 in September 2013. FLY financed the 777-300ER with funding from the European bank market and its own unrestricted cash. Colm Barrington, CEO of FLY, commented: “With the delivery of the 777, FLY has now acquired six aircraft for approximately $330m in 2013 and has identified a robust pipeline of additional acquisitions to meet our ambitious growth target.”

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