Aircastle In $900 Mln Agreement With LATAM On 8 Boeing 777-300ER Aircraft

(RTTNews) - Aircastle Limited (AYR) Tuesday said it reached a $900 million agreement with LATAM Airlines Group S.A. to enter into purchase and leaseback transactions involving eight Boeing 777-300ER aircraft.

The first group of four aircraft, which were manufactured in 2012, is expected to close early in the second quarter of 2014 with an average lease term of 60 months.

The second group of aircraft, manufactured in 2008, is expected to be purchased by Aircastle once the existing financings are repaid and will be leased back to LATAM with lease terms expiring in 2017 and 2018.