LONDON, UKThe British budget operator easyJet signed a sale and leaseback agreement with the Irish lessor Aergo Capital for ten Airbus A319 aircraft.

The previous generation A319 jets are 14 years old and initially delivered to the British carrier.

Fred Browne, Chief Executive Officer of Aergo, commented: “We are delighted to have completed this first transaction with easyJet. We found the easyJet team a pleasure to deal with, both in the early stages of the transaction, and throughout the impressively efficient closing logistics. We very much look forward to further strengthening our relationship with the team at easyJet.”

Justin Bradburn, Principal at CarVal, commented: “We are extremely happy to have consummated this transaction with easyJet. The entire process from negotiation, documentation and closing could not have gone smoother. We look forward to being a partner of easyJet’s going forward”

Kenton Jarvis, Chief Financial Officer of easyJet, commented “We are delighted to welcome Aergo as one of our new lessors and see them as a key partner as we continue to utilise sale and leasebacks for the A319 type while we transition these aircraft from the fleet and introduce newer technology Airbus A320 NEO family aircraft.”

Smith, Gambrell & Russell, LLP acted as a lead counsel to Aergo. Norton Rose Fullbright acted as a lead counsel to easyJet.