Aviation Capital, Jetstar Pacific sign agreement for 10 new Airbus aircraft

Aviation Capital Group Corp. (ACG) has signed a sale and lease-back agreement with Jetstar Pacific for 10 new Airbus A320-200 aircraft, the company said.

The first two aircraft are expected to be delivered in June 2017 and the remaining eight in the last two quarters of 2017.

ACG and its subsidiaries have ordered a total of 158 A320 family aircraft, comprised of 61 A320neo family and 97 A320ceo family aircraft, directly from Airbus for its own order book.

Aviation Capital Group is a full service aircraft asset manager with approximately 415 owned, managed, and committed aircraft, which are leased to approximately 100 airlines in approximately 45 countries. ACG was founded in 1989 and is a wholly owned subsidiary of Pacific Life Insurance Company.

Jetstar Pacific is one of Vietnam´s low-cost carriers, operating a total of 36 domestic and international routes. It is part of the larger Jetstar Group network that connects to more than 80 destinations in 17 countries with 4,000 weekly flights across Jetstar Airways (Australia), Jetstar Japan (Japan), Jetstar Asia (Singapore), and Jetstar Pacific. The airline is owned by Vietnam Airlines and the Qantas Group.