Avolon to lease 15 planes to Indian airline Vistara
Irish aircraft lessor has also cleared $407 million in bonds owed to investors
The A320 is a narrow-body, twin-engined craft most frequently used on short- and medium-length journeys. Photograph: Getty Images
The news came as Avolon also announced that its first securitisation venture, Emerald Aviation Finance, has cleared the outstanding $407 million (€359 million) in bonds that it owed to investors.
The lessor said that repaying the Emerald bonds was part of its ongoing pledge to cut its secured debts.
This is the first deal that the Irish lessor has done with Vistara, which is a full-service carrier based in India. The A320 is a narrow-body, twin-engined craft most frequently used on short- and medium-length journeys.
The latest model, the neo, carries more passengers and uses less fuel than earlier versions.