Oasis Leasing, Air Canada sign 10-year lease on three aircraft

Frequent flyer ... The A321 is an invaluable addition to Air CanadaÕs fleet.

Oasis Leasing has announced the acquisition of a new Airbus A321 and two Bombardier CRJ-100ER aircraft that will enter service with Air Canada on a 10-year lease financed utilising a $200m umbrella facility signed in November 2000.

The A321 was delivered fresh from the Airbus Industrie production line and is part of the highly popular A320 family of aircraft. It is powered by CFM56-5B3 engines and has a range up to 5,550 kilometres.

For Air Canada, it will accommodate 166 passengers in a two-class configuration.

Commenting on the transaction, Gordon Dixon, CEO Oasis Leasing, said, "This is a groundbreaking transaction for Oasis in a number of ways. In addition to being our first acquisition of a new aircraft, we are delighted to have Air Canada as an important new customer."

Coming on the back of a solid set of interim financials and the recently announced Continental Airlines transaction, the Air Canada deal is a clear sign the Abu Dhabi-based leaser is accelerating its growth strategy.

Dixon added: "Oasis has made no secret of its plans to grow the company and this represents a further step in the attainment of our ongoing plans.

In addition to creating more asset and geographic diversity in the business, it also improves the average age of the assets in our portfolio."