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Avianca agrees to sell 14 aircraft to Fortress Transportation

December 13, 2019 / Aerospace Technology
SHARESHARESHARE

Airline group Avianca Holdings has agreed to sell 14 aircraft to Fortress Transportation and Infrastructure Investors (FTAI), as part of its fleet plan and implementation of the Avianca 2021 transformation programme. Under the deal, Avianca will sell ten A318 and four A320 aircraft powered by CFM56-5B and V2500 engines to FTAI for an aggregate price of $160m. Avianca Holdings CEO Anko van der Werff said: “We are excited to execute a flexible phase-out plan that maximises our fleet value. It has been terrific working with FTAI – we look forward to exploring new opportunities across our fleet with FTAI and continuing to build our relationship with them.” Expected to close this year, the transaction is subject to customary closing conditions.