Oasis Leasing acquires first Airbus A321

Delivered fresh from the Airbus Industry production line last Friday, the passenger jet will shortly enter service with Air Canada on a 10-year lease. Oasis financed the transaction by utilizing a US$200m umbrella financing facility signed in November 2000.

The aircraft, part of the highly popular A320 family of aircraft, is powered by CFM56-5B3 engines and has a range up to 5,550km. In the Air Canada configuration it will accommodate 166 passengers in a two class configuration.

Commenting on the transaction, Gordon Dixon, CEO Oasis Leasing, said: "This is a groundbreaking transaction for Oasis in a number of ways. In addition to being our first acquisition of a new aircraft, we are delighted to have Air Canada as an important new customer. We are confident this deal will lead to further business opportunities with this highly prestigious client."

Air Canada is Canada's flagship air carrier, serving over 150 destinations worldwide. An award winning airline it was voted the best in North America 2002, as well as being listed amongst the world's top 10 airlines.

Coming on the back of a solid set of interim financials and the recently announced Continental Airlines transaction, the Air Canada deal is a clear sign the Abu Dhabi-based lessor is accelerating its growth strategy.

Dixon added: "Oasis has made no secret of its plans to expand the company and this represents a further step in the attainment of our ongoing plans. In addition to creating more asset and geographic diversity in the business, it also improves the average age of the assets in our portfolio and extends the average lease term."