Babcock & Brown Air to acquire three aircraft

Babcock & Brown Air announced that it will acquire three aircraft, increasing its portfolio to 62. The new aircraft are: one Airbus A320-200 on lease to Virgin America (U.S.), one Boeing 737-800 on lease to Sky Airlines (Turkey) and one Boeing 757-200SF on lease to Icelandair (Iceland). The three aircraft will cost approximately $103 million. The acquisitions are being funded from the Company’s five-year, $1.2 billion aircraft acquisition facility. Following these acquisitions, B&B Air will have purchasing capacity of $584 million remaining in this facility.