Max Kingsley-Jones/LONDON
The equipment-leasing division of Dutch financial institution ING is disposing of the Airbus A300B4s in its portfolio to fund an expansion of newer aircraft for its operating-lease business.
ING Lease International Equipment Management (IEM) has sold eight of its 12 ex-Eastern Airlines A300B4-200s to A300 freighter-leasing specialist, US-based C-S Aviation Services, for delivery from1998. The aircraft are leased to Pan Am/Carnival Airlines. The deal boosts C-S' A300 fleet to 27, all to be converted to freighters by British Aerospace Aviation Services.
"We have sold two other A300s to Air Alfa of Turkey, while one aircraft is leased to PIA [Pakistan International Airlines]. We have three A300s left to sell," says Mike Zuur, ING IEM deputy managing director. ING has a portfolio of 20 aircraft, including most Boeing types and the McDonnell Douglas DC-9 and DC-10.
"We are disposing of the A300s to make room for new investments in aircraft that have a wider customer base, such as the 'new-generation' [ie, CFM International- powered] 737 and the Airbus A320 family," says Zuur. "We intend to acquire brand-new, or recently delivered, aircraft for operating lease," he says.
Source: Flight International
