FL Group, Kaupthing Bank Unit buys Aircraft

FL Group, Kaupthing Bank Unit buys Aircraft


Iceland’s FL Group hf and a Kaupthing Bank hf subsidiary have signed on a purchase agreement with Singapore Airlines’ (S55.SG) Cargo unit for a Boeing 747-400 cargo aircraft for five million Icelandic crowns, IcelandReview reported. For the first time both companies have cooperated regarding aircraft holding. Kaupthing Bank owns 51 percent of the holding company and FL Group 49 percent. This is a so-called sale-leaseback contract, which means that when the aircraft was bought it was simulta...


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