Lufthansa is forming a joint venture with aircraft financing specialist KG Allgemeine Leasing (KGAL) to buy the airline's surplus used aircraft and place them with customers on operating leases. The airline will have a 40% share.
The company, German Operating Aircraft Leasing (GOAL), has closed its first transaction with German flag-carrier Lufthansa, with a sale and lease-back deal for two Boeing 737-300s. It will acquire more aircraft as they are phased out of Lufthansa service.
Lufthansa says: "To meet the individual requirements of its clients, the new subsidiary will provide know-how of the leasing sector through KGAL, and additional services like fleet analysis, technical support and personnel training through the Lufthansa Group."
KGAL has financed more than 220 aircraft purchases for major airlines, and Lufthansa has remarketed more than 300 airliners.
Source: Flight International
