Joint venture airline AeroLogic to operate Boeing 777 freighters

Deucalion Capital VII Limited (“Deucalion”), a company advised and managed by DVB Bank AG, has purchased eight Boeing 777 Freighters for lease to AeroLogic, a new joint venture airline formed by Lufthansa Cargo and DHL Express. Valued at $2 billion at list prices, the eight 777 Freighters were ordered by Avion Group of Iceland in 2005. Avion Group terminated its order and the airplanes were picked up by Deucalion in late 2007.

Deucalion will lease the freighters to AeroLogic, the joint venture first announced by Lufthansa Cargo and DHL Express last year, for cargo services on European-Asian routes. AeroLogic will operate out of Leipzig, Germany.

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