Capital Lease Aviation acquires an Airbus A321

4th Jun 2013 11:54

Capital Lease Aviation(CLA) has acquired an additional Airbus A321 on lease to Thomas Cook subsidiary Condor Flugdienst GmBH of Germany. The company said the aircraft was acquired from another lessor and was leased to Condor until April 29th 2018. The aircraft variant is an Airbus A321-200 with CFM56-5B3/P engines and was manufactured in December 2001. The total consideration for the aircraft at closing was $26.5m and the company said the purchase price had been satisfied in cash plus the assumption by the company of certain liabilities under the operating lease of about $3.0m. The company added that the cash consideration was substantially financed with commercial senior secured debt which runs a term contemporaneous with the lease. In addition to the commercial senior debt, interests associated with two directors of CLA, Soeren Ferré and Jeff Chatfield, provided a bridge finance in the form of short term unsecured debt finance of $5.0m at an interest rate of 9.75%. CLA's fleet of commercial aircraft now includes three Airbus A321's and one Airbus A320.The company's share price was unchanged at 17.12p at 11:56.MF