Air Berlin PLC

EANS-News: Air Berlin PLC
Jackson Square Aviation and Air Berlin agree on transaction for eight aircraft

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Company Information

London/Berlin (euro adhoc) - Jackson Square Aviation, LLC ("Jackson Square") and Air Berlin are to sign a deal for eight aircraft. Under the arrangement, Jackson Square will acquire three type Boeing 737-800 aircraft owned by Air Berlin and currently leased to Shenzhen Airlines in China. The transaction also covers financing arrangements for five aircraft in the Air Berlin fleet. This involves financing an Airbus A319 currently owned and operated by Air Berlin as part of a sale-and-lease-back transaction. Furthermore, four new Boeing 737-800s due to be delivered in the first half of 2011, are also to be financed under sale-and-lease-back deals. As regards the Boeing 737-800 leased to Shenzhen Airlines and the Airbus A319, the deal is likely to be concluded by the end of April 2010.

"We are pleased to be one of the first customers of Jackson Square Aviation, a company just recently established. We have confidence in the executive management team which was previously in charge of the Pegasus Aviation Finance Company, a business with which we enjoyed good relations. The sale of the aircraft currently leased to Shenzhen Airlines represents a financial transaction that is especially valuable to Air Berlin. It helps us reduce our net liabilities further, which is of particular advantage to us," commented Ulf Hüttmeyer, CFO Air Berlin PLC.

"We are enthusiastic about concluding such a big deal with one of Europe´s leading airlines," remarked Toby Bright, Head of Marketing at Jackson Square. "This deal is exactly the kind of business that Jackson Square is looking for: long-term leases for next-generation equipment with first-rate airlines."

About Jackson Square Aviation, LLC Jackson Square is a commercial leasing company founded very recently and working in partnership with Oaktree Capital Management, L.P. Jackson Square is based in San Francisco, but also has offices in Seattle, Miami and Buenos Aires, with plans to open marketing offices in Europe and Asia in 2010. The management team previously worked together at Pegasus Aviation and Sky Holding and has a combined experience in this industry of over 90 years. The team is headed by Rich Wiley, Scott Weiss and Toby Bright. In total it has acquired aircraft with a value of over 10 billion dollars, having purchased and/or sold more than 400 aircraft, and has contacts with more than 30 commercials financiers and investment banks in Europe, Asia and North America. Oaktree Capital Management, L.P., Jackson Square´s majority shareholder, is a premier global alternative and non-traditional investment management corporation with more than 70 billion dollars of assets under management.

About Air Berlin Air Berlin is Germany´s second largest airline. The group has been listed on the stock exchange since May 2006. Last year Air Berlin carried a total of 27.9 million passengers worldwide. The company currently has approx. 8,200 employees. Every year Air Berlin receives more than 10 awards for service and quality. With an average age of just 5.5 years, Air Berlin has one of the newest fleets in Europe. The airline´s modern aircraft are extremely fuel-efficient, thereby providing a lasting contribution to the reduction of aviation emissions.

For further information please contact: Toby Bright Head of Marketing Jackson Aviation Tel.: +1 (206) 245 - 8077

end of announcement                               euro adhoc

Further inquiry note:

Hans-Christoph Noack
Director Corporate Communications Air Berlin
Tel.: +49 30 3434 1500
Fax: +49 30 3434 1509

Branche: Air Transport
ISIN: GB00B128C026
WKN: AB1000
Index: SDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade

Original-Content von: Air Berlin PLC, übermittelt durch news aktuell

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