This excerpt taken from the AYR 8-K filed Jun 22, 2007.
Aircastle Announces Agreement to Purchase 15 A330-200 Freighter Aircraft from Airbus
Stamford, CT. June 20, 2007 Aircastle Limited (NYSE: AYR) (Aircastle) today announced that one of its subsidiaries has signed a contract with Airbus SAS (Airbus) to purchase 15 new Airbus Model A330-200F freighter aircraft with deliveries in 2010 and 2011. Aircastle is a launch customer for the A330-200F, a new freighter variant of the successful A330-200 passenger aircraft that has been in operation since 1998. The A330-200F is projected by Airbus to enter commercial service in late 2009.
With increasing global demand for air freight capacity coupled with limited new supply, we continue to find good investment opportunities in the freighter aircraft market. We expect the A330-200F to be an excellent high utility aircraft with attractive returns said Joe Adams, Aircastles Deputy Chairman of the Board.
Commenting on the purchase Aircastles Chief Executive Officer Ron Wainshal remarked, We believe the A330-200F is an extremely compelling aircraft for air freighter operators seeking modern and efficient lift on north-south and longer range regional routes, both to replace older equipment and to capitalize on global trade expansion.
The average Airbus list price for 15 new A330-200F aircraft is $2.6 billion, though manufacturer list prices are subject to customary discounts, which may be substantial for larger purchases and launch orders. Final pricing will vary by engine selection and other specification differences, and is typically subject to escalation, among other factors.