Thomas Cook secures aircraft deal
Thomas Cook Group has reached a deal with aircraft financing firm GECAS to lease nine aircraft from 2015 as part of its plan to build a single airline for its UK, European and Scandinavian operations.
GECAS will buy six A321-200 from Airbus, taking over a sale agreed between Thomas Cook and Airbus in January 2011, and the tour operator will lease the aircraft from GECAS at an average lease rate factor of 0.887 per cent for 12 years.
It is anticipated that four of the aircraft will be delivered to Thomas Cook in the first quarter of the 2015 financial year, with the remaining two expected to be delivered in the second quarter of that year.
Thomas Cook has also agreed to lease an additional three A321-200 aircraft from GECAS from 2015 for 12 years at market rates, the rental being subject to adjustments at delivery according to prevailing interest rates.
Thomas Cook said today’s announcement to the London Stock Exchange represented the latest stage of its fleet renewal programme, which bring together its four airlines TCX (UK), TC Belgium, Condor (Germany) and TC A/S (Scandinavia) into one segment as part of its on-going efficiency drive; to maximise purchasing power, reduce duplicative cost and "improve the customer experience".
The Group has now entered into agreements to replace 23 of its existing fleet of 85, with delivery of the first new A321, to be named Voyager Android, being taken later this week at the Airbus facility in Hamburg, increasing the fleet to 86.
"Upgrading the fleet in this way not only improves passenger comfort but will improve efficiency and reduce fuel burn and CO2 emissions as part of our on-going commitment to environmental sustainability," it said.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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