GECAS arranged a sale-leaseback along with pre-delivery payment financing for Viva Air in a transaction for 10 A320ceo aircraft to be delivered in 2018 and 2019.

Viva Air has been a GECAS customer since the inception of VivaColombia six years ago and its fleet is currently comprised entirely of A320ceo aircraft powered by CFM56 engines.

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.

“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,” said 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.”

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