American approved for Guggenheim 777-300ER SLB

New York
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American Airlines has received bankruptcy court approval for a sale and leaseback (SLB) with Guggenheim Aviation Partners for up to two Boeing 777-300ERs.

The deal covers N720AN (manufacturer's serial number 33522) that will be delivered by Boeing on or around 20 February, according to a court filing. It includes an optional second aircraft that will either be N721AN (31546), which is scheduled to be delivered in March, or the first 777-300ER delivered to American between April and December that the airline elects to finance with a SLB.

The US Bankruptcy Court for the Southern District of New York approved the deal on 15 February. It approved the delivery of N720AN and N721AN to American in December 2012.

The Guggenheim-owned special purpose vehicle SAILES 2 will own the aircraft and Wells Fargo will be the trustee.

SkyWorks Capital is financial adviser to American on the deal.

American has eight 777-300ER deliveries scheduled this year and orders for up to 20 of the type.