PRESS RELEASE

 28 July 2004

 

debis AirFinance Delivers Two Boeing 737-400s to Varig

 

debis AirFinance, one of the world's largest aircraft leasing and asset management companies, announced today that it has delivered two Boeing 737-400 aircraft on operating lease to Brazilian carrier Varig Group, a member of the Star Alliance.

 

These two aircraft are owned by AerCo, an aircraft securitisation vehicle, which currently owns a portfolio of 60 modern commercial jet aircraft, for which debis AirFinance acts as servicer and administrative agent. In addition, debis AirFinance currently manages the lease of one Boeing 737-300 and one Boeing 737-500 aircraft with Varig Group on behalf of AerCo.

 

Klaus Heinemann, Chief Executive Officer of debis AirFinance, said: “These two new lease transactions strengthen our long-standing relationship with Varig and our presence in the Latin American market.  After a difficult year in 2003, the economies of Latin America, and in particular Brazil, are now beginning to show signs of a gradual recovery.  We expect this to result in a noticeable increase in air traffic and capacity growth in the region over the coming months.”

 

Varig Group is one of the largest air transport companies in Latin America and operates 86 aircraft on 45 domestic and 26 international destinations.

 

About debis AirFinance

debis AirFinance provides aircraft leasing to airlines and asset management services to third parties such as investors and banks. The company has a total owned and managed fleet of over 250 jets and turboprops (Boeing/ MDC, Airbus, Fokker, Dornier, ATR, DHC). debis AirFinance, headquartered at Amsterdam's Schiphol Airport, has a worldwide presence with offices in Shannon, Ireland and Fort Lauderdale, Florida/United States.

 

 

 

For further information on debis AirFinance please contact:

 

Frauke Oberdieck
Corporate Communications
debis AirFinance	Evert van de Beekstraat 312
Tel.: +31 20  655 9616	1118 CX Schiphol Airport Amsterdam
Fax: +31 20 655 9100	The Netherlands
Email: foberdieck@debisairfinance.com	www.debisairfinance.com