Vermillion Aviation Holdings Ireland Limited has entered into the Purchase & Leaseback arrangement with Avianca Brasil for six new Airbus A320-200 aircraft with CFM 56-5B engines. 2 of these aircraft were delivered one each in June and July 2015. 4 remaining aircraft will be delivered from August to October 2015.

Vermillion is a joint venture between MC Aviation Partners and Cheung Kong Property Holdings Limited. and Li Ka Shing (Overseas) Foundation which owns 16 aircraft.

Avianca Brasil operates 40 Airbus aircraft including A330 and A320 family aircraft. Avianca Brasil became a member of Star Alliance in July this year.