Vallair, the aircraft trading, leasing and specialist MRO organisation has completed lease transactions for three Airbus A321 aircraft with Onur Air in Turkey.
The first of these three aircraft (MSN 974), purchased from AerCap together with its engines, was delivered to Onur Air in May with a lease term of 18 months. The second aircraft (MSN 968), also purchased from AerCap, is being leased as an airframe only and was delivered to Turkey at the start of June. The final aircraft (MSN 835), purchased from Aviation Capital Group (ACG), was also leased to Onur Air as an airframe only and is part of an acquisition release novation contract completed in April with a short-term lease of 6 months. In addition to these three aircraft, Onur Air are also in possession of a V2500-A5 engine under lease with Vallair.
Onur Air operates a combination of commercial and charter flights to a range of domestic and international destinations, scheduled and non-scheduled, out of its main hubs Atatürk Airport in Istanbul and Antalya Airport in Antalya, Turkey. The airline operates a fleet solely consisting of Airbus family aircraft, including A320s, A321s and A330s. Onur Air also provides wet-lease service to Saudi Arabian Airways for Hajj and Umrah operations with its A330s.
A consistent expansion programme and continuous fleet renewal are crucial for the airline’s development strategy in line with the gradual recovery of Turkey’s tourism industry. These transactions will support Onur Air’s development by allowing them to optimise operations while limiting their overall cost base.
“We are pleased to have these three Airbus A321 aircraft delivered to Onur Air, with whom we have a long-standing and strong relationship”, comments Anca Mihalache, Head of Vallair’s Trading & Leasing Business Unit. “MSN 974 will serve as part of our feedstock for the Company’s developing Airbus A321-200 P2F cargo conversion programme. Vallair is committed to maximising the life and value of assets by providing cost-effective and flexible leasing solutions to operators seeking to strengthen and sustain their business. As demand for aircraft leasing continues to grow, Vallair is heavily focused on the development of its portfolio of leased assets as part of the Company’s wider growth strategy. This fleet expansion programme, coupled with Vallair’s involvement in the P2F cargo conversion programme, demonstrates the Company’s foresight and capacity to forge innovative leasing solutions and deliver assets that meet the current and future needs of operators around the world.”