Avianca Brasil lessor set to seize 20% of airline's fleet: source

Lessor Aircastle is set to repossess 10 jets from Avianca Brasil, the country’s No. 4 airline, after a bankruptcy hearing on Monday, a source familiar with the matter said, potentially disrupting flights for thousands of passengers. The 10 Airbus A320 planes represent more than 20% of Avianca Brasil’s current fleet, according to data provided by Brazil’s aviation regulator, raising doubts about the carrier’s ability to fly its full flight schedule if the aircraft are seized. And it could lose more planes in the future. Lessor GE Capital Aviation Services and an affiliate are seeking to repossess 12 Airbus A320s from Avianca Brasil, according to James Luton, a GE spokesman. When the airline filed for bankruptcy protections last month, the airline discussed the possible loss of 14 planes, which it said would affect 77,000 passengers over a three-week period. A representative for Avianca Brasil declined to comment. <br/>