Genesis to Lease 737-700 Aircraft to VRG Linhas Aereas
June 13, 2008
Genesis Lease, a commercial aircraft leasing company, has reached a definitive agreement to lease two Boeing 737-700 aircraft to VRG Linhas Aereas, a wholly owned subsidiary of GOL Airlines in Brazil, for a period of seven years.
The two aircraft were previously on lease to Aloha Airlines. The airline is expected to take delivery of the aircraft prior to the end of July 2008.
John McMahon, CEO of Genesis Lease, said: “Following Aloha’s bankruptcy filing, we took possession of the aircraft and secured attractive long-term lease agreements at rates in excess of the previous contracts. In a high-priced fuel environment, airlines are increasingly focused on the attraction of modern fuel efficient aircraft.”