Manufacturing Industry
Frontier enters new LoI with VTB Leasing
Airline Industry Information, July 30, 2008
AIRLINE INDUSTRY INFORMATION-(C)1997-2008 M2 COMMUNICATIONS LTD
Frontier Airlines Holdings Inc has entered into a Letter of Intent (LoI) with VTB Leasing for the sale of six of its Airbus A319 aircraft.
VTB Leasing is planning to lease the aircraft to Russia's Rossiya Airlines.
This agreement is an amendment of a previous agreement, under which VTB Leasing intended to purchase two Airbus A319 and two A318 aircraft. Instead of the two Airbus A318 aircraft, VTB Leasing is purchasing six additional Airbus A319 aircraft.
Frontier has also stated that it has reached agreement on other sale and leaseback transactions. According to the company, it will gain a total of around USD80m from these transactions.
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