Aircastle, the global leasing firm, has just closed on the acquisition of a Boeing 747-400 which it will convert into a freighter, two sources close to the matter told this news service.

Dublin-based Orix Aviation was acting on behalf of the unnamed seller of the aircraft, both sources confirmed.

It is understood that the transaction was paid for entirely with cash, with the possibility of debt financing being sought at a later stage. 

By Fay Sanders, Editor