Dynam Announce SLB Transaction with Wizz Air
27 October 2021: Dynam Aviation and Sato Aviation (our sister company) have together closed a sale and leaseback transaction with Wizz Air for four Airbus A321neo aircraft.
These aircraft, all powered by Pratt and Whitney PW1100G engines, will be delivered in 2022 with three being assigned to Dynam and one to Sato. This will increase the total number of aircraft in the joint portfolio to 12.
Katsuhiko Ando, CEO at Dynam Aviation commented: "This SLB transaction reinforces our commitment to the industry as the market begins to show signs of recovery. We are delighted to partner with one of the most successful low-cost carriers in the world and we look forward to working with Wizz Air for many years to come”.
Owain Jones, Chief Supply Chain and Legal Officer at Wizz Air said: "We are delighted to have signed this transaction with Dynam Aviation and Sato Aviation. These four new Airbus A321neo aircraft will allow us to continue to fly the most sustainable and cost-efficient aircraft currently available in the market. As the aviation industry shows signs of recovery, this investment into our best-in-class fleet reinforces our position as one of the most low-cost and productive airlines in Europe and beyond."
This will be Sato’s second aircraft on lease to Wizz Air and marks the first SLB transaction with the airline for Dynam. FPG Amentum (service providers) and McCann FitzGerald (legal advisors) assisted on this transaction.