GECAS arranged a sale-leaseback along with pre-delivery payment financing for Viva Air in a transaction for ten A320ceo aircraft to be delivered in 2018 and 2019.

Viva Air operates a fleet comprised entirely of A320ceo aircraft powered by CFM56 engines.

“We are excited to expand our fleet with these additional A320ceo’s. With these new aircraft we will start to modernize our fleet, which will allow us to offer a renewed experience to our customers, simplify processes and also offer even lower fares thanks to further cost savings,” explained Declan Ryan, founding Partner of Irelandia Aviation. “We appreciate the relationship we’ve developed with GECAS over the years and their ability to offer the PDP financing along with the sale-leaseback made this an ideal solution for our operations.”

The Viva Air Group, which includes VivaColombia and Viva Air Peru, was established by Irelandia Aviation and is the first and only low-cost airline in Colombia and Peru. The carrier has been a GECAS customer since the inception of VivaColombia six years ago.

“We value the trust Viva Air has in GECAS’ ability to create a customized solution to meet their specific needs,” said GECAS SVP Latin America, Gilberto Peralta, adding “Even prior to their first flight, we have been working with VivaColombia and we are excited to continue our partnership.”