Israir Group is negotiating the purchase of an Airbus A320 from one of its lessors, in exchange for an extension of the lease on the twinjet.
The Israeli company states that the discussions have led to a draft agreement under which Israir would pay around $16.5 million for the aircraft – from which a $500,000 security deposit to the lessor will be deducted.
It says that the exchange would include extension of the least contract which is expected to end in mid-2026.
The carrier identifies the A320 involved as 4X-ABS, an 18-year old airframe powered by International Aero Engines V2500s.
Israir Group states that, if concluded, the agreement would give it four owned aircraft.
It expects to invest another $3.5 million in the “foreseeable future” for upgrades to the flight-management systems and other aspects of the aircraft.
