Wizz Air and Avolon close sale and lease back transaction

Wizz Air reported the closing of a sale and lease back transaction with Avolon, the international aircraft leasing group, for three new Airbus A320 aircraft to be delivered in the first half of 2012. This is the first sale and lease back transaction between Wizz Air and Avolon under the terms of which Avolon will take ownership of the aircraft upon delivery from Airbus and Wizz Air will then lease them back for a minimum 7-year lease term.