Astral Aviation to lease 3 Boeing 757-200F from Aquila Air Capital
Astral Aviation announces the signing of operating leases for three Boeing 757-200F freighter aircraft from Aquila Air Capital, a specialty finance platform focused on commercial aerospace. The agreement marks a new partnership with the US lessor.
The aircraft are expected to be delivered to Astral starting in November 2021, upon completion of their scheduled maintenance. SkyExec Capital Jets acted as arranger and will service the lease during the term.
"At Aquila, we are focused on providing cost-effective and flexible solutions for our customers to manage through these unprecedented times. We look forward to this being the beginning of a long-term relationship with Astral to help facilitate their future growth," said Al Wood, CEO, Aquila Air Capital.
Aquila Air Capital is a specialty finance platform focused on providing asset financing in partnership with industry participants as well as purchasing and leasing aircraft, engines and other aviation equipment.
"The aircraft will take over the Nairobi - Johannesburg and Nairobi - Dubai scheduled service with increased frequency for our clients in addition to new scheduled routes to and within Africa and the Middle East in 2022. It will also offer point-to-point solutions for Covid-19 vaccines (from India / UAE to Africa) in addition to E-commerce shipments to new markets," said Sanjeev Gadhia, Astral Aviation, CEO.
"The B757-200F will complement the Astral fleet with new and efficient options to and within its existing scheduled and charter freighter network, which comprises of over 50 destinations in Africa, Middle East and Southeast Asia," said Satvir Kalsi, Astral's Commercial Director in UAE.
"With this agreement, Astral Aviation will become the largest B757F operator in Africa and the Middle East, in addition to being the only B767F operator in the region. The B757F is a fuel-efficient, mid-range and narrow-body freighter, with a payload of up to 30 tons and a range of 5 hours, which makes it a perfect freighter for the African, Middle East & South East Asia region," added Astral Aviation, COO, Michael Mutahi.