Azorra Orders 20 A220-300
Leasing company Azorra has signed an agreement with Airbus for the purchase of 20 A220-300s. The deal also cover the purchase of two ACJ TwoTwenty. The company is located in Fort Lauderdale, Florida and has Air Baltic as a customer: It had entered into a purchase and lease transaction for three A220-300s from the Latvian airline.
In a buy-lease transaction, an airline sells an aircraft to the leasing company. On the day of the purchase, the purchaser leases the aircraft back to the airline. If an airline has negotiated a very good price with the manufacturer, it can sell its aircraft to the landlord for a profit. This then allows it to generate cashflow when taking possession. This is the model used by Indigo Airlines, among others, with its mega controls.
For Azorra, this is therefore his first order for an A220 placed directly with Airbus. It has 275 aircraft under management with about 100 customers.>>> Follow us on Facebook and Twitter