DCM Deutsche Capital acquire four B777 freighters
27 / 07 / 2008
Deucalion Capital VII Limited (“DC VII”), an aviation fund advised and management by DVB Bank AG, has sold four Boeing 777F freighter aircraft to DCM Deutsche Capital Management AG, a German issuing house based in Munich. DC VII had placed an order for a total of eight freighters with Boeing in November 2007.
The aircraft will be delivered in 2009 and 2010 under a long-term operating lease to AeroLogic, a joint venture cargo airline created by Lufthansa Cargo and DHL Express. The joint venture will commence flight operations from its home base at Leipzig/Halle Airport in the spring of 2009.
Claus Hermuth, Chairman of the Management Board of DCM Deutsche Capital Management AG, said that there are “numerous factors pointing to air freight transport as one of the key growth markets of the future. Demand for aircraft with particularly high payload, operating range, and cost efficiency is expected to be especially brisk: Boeing’s new 777F – considered to be the most innovative freighter available – is particularly well-positioned in this respect. With the aircraft acquired from the Deucalion Funds, we have secured exposure to this type of aircraft for our current aviation fund, as well as for funds we will launch in the future. At the same time, we look forward to a successful long-term business relationship with DVB Bank.”