Aergo Capital expands its fleet with four Bombardier planes

Irish aviation financier Aergo Capital has bought four next-generation Bombardier craft that are on lease to Ethiopian Airlines.

Aergo said on Monday that it has bought a British Virgin Islands company that owns four Bombardier Q400 NextGen aircraft.

Ethiopian Airlines is leasing all four for the long term. An existing financing deal with Export Development Canada will stay in place.

The craft are two years old and the purchase brings Aergo’s fleet to 30.

Commenting on the deal, Aergo chief executive Fred Browne said that the acquisition was in line with the company’s strategy of buying younger craft on long-term leases and trading out of older planes.

“We are excited to have Ethiopian Airlines as a lessee as they continue their expansion,” he added.