8 New ATR's.......for who?
Anyone heard of Lonrho or Fly 540?
Lonrho buys new aircraft
Jan 10 2008 12:07 PM
Johannesburg - Lonrho, the expanding conglomerate with a structured portfolio of African investments, announced on Thursday that it's wholly owned subsidiary, Lonrho Air has signed an agreement with Avions de Transport Regional to purchase eight of the latest specification, new, ATR 72-500 aircraft.
The delivered price for the eight aircraft, including a comprehensive support and spares package, will be in the region of US$145m and delivery will be completed on an agreed schedule delivering four during 2008 and four during 2009. The aircraft will be branded Fly540, and will be configured with 54 seats in economy and 12 in first class.
ATR will assist Lonrho Air in obtaining Export Credit cover
for the financing of the Aircraft from COFACE and SACE, the respective Export Credit Agencies (ECA) of France and Italy.
ECA support may extend up to 85% of the purchase proceeds of the aircraft. The balance of 15% will be payable by Lonrho Air in periodic instalments, prior to each aircraft delivery.
Lonrho's wholly owned subsidiary, Fly540 Africa, is developing an expanding aviation network across Africa, providing much needed international standard services. Fly540 will be flying in eight African countries early in 2008 and the new aircraft will provide the ability for the airline to continue its expansion plans to link African countries with a quality airline.
- I-Net Bridge