International Lease Finance Corporation (ILFC) has completed a deal to purchase and lease back five new Boeing 737-800s to Virgin Australia.

The aircraft will be delivered in 2012 and 2013, said the lessor.

"ILFC is proud to be working with Virgin Australia in acquiring these five new aircraft which will support Virgin Australia's fleet upgrade. The Boeing 737-800 aircraft is known for its reliability, fuel efficiency and flexibility over a variety of short and medium range markets which will serve the airline well," said the company's executive VP and chief marketing officer Philip Scruggs.

Source: Air Transport Intelligence news