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Capital Lease to buy additional aircraft after securing new finance deal

Wednesday, October 08, 2008

Capital Lease Aviation, the AIM quoted aircraft leasing company, has been successful in obtaining a further finance facility for US $100 million, with provision for a further US $50 million subject to a syndicated book build. The new funding will be used by the company to buy up more aircraft.

Jeff Chatfield, CLA’s chairman said the company believed that aircraft valuations were in the process of dropping to a point to be highly advantageous to buyers.

“We anticipate returns to serious long term investors based on purchases made in the near term to be highly attractive,” he said. “The current market conditions may represent the best opportunity since 2001 to purchase high quality, newer aircraft that are operated under lease by top tier airlines.”

The new debt facility is from a major European Bank and will be used to purchase new generation Airbus A330-200 / 300, Airbus A320 family and Boeing 737 NG leased aircraft.






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