AirTran Airways completes Boeing 737-700 financing facility agreement with NORD/LB
15-Sep-2010 AirTran Airways, a subsidiary of AirTran Holdings, Inc. (NYSE: AAI), today reported that it has signed a new financing arrangement with Norddeutsche Landesbank Girozentrale (NORD/LB), one of the largest state-owned banks in Germany, to provide permanent financing to the airline for Boeing 737-700 deliveries in 2011.
With this announcement, the low-cost carrier has secured committed financing for all Boeing 737-700 deliveries slated for 2011.
"Despite the challenging economic climate, we are delighted to announce the backing of NORD/LB for our 2011 aircraft deliveries," said Steve Rossum, AirTran Airways' executive vice president and general counsel. "NORD/LB is an important business partner for our airline, and we are proud of its continued confidence in our future."
NORD/LB has been a long-time partner of AirTran Airways, dating back to the airline's first owned Boeing 737-700 in 2004.
"We are excited about supporting AirTran Airways in this important transaction," said Oliver Gruenke, deputy head of NORD/LB's global aviation team. "The North American market and especially the resilient sector of low-cost airlines has always been our focus area and we are delighted to combine a strong airline and the attractive Boeing 737 Next Generation product in this transaction."