El Al Israel Airlines has signed an agreement to sell and lease back two CFM engines, 56-7B, for an amount around $13-14m. EL AL leased back those engines for a period of 7 years at a lease rate of 0.75%-1.2% per month with an option to extend the contract by 5 years. As a result of the sale, EL Al is expected to recognize $9m of capital earnings in the first quarter of 2012.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada