Aircastle has entered into an agreement with SriLankan Airlines Limited, the national carrier of Sri Lanka, for the purchase and leaseback of three Airbus A330-200 aircraft.

Financial terms were not disclosed. The purchase and leaseback of the first of the three aircraft was completed Monday, with the remaining two aircraft scheduled for closing in August 2010.

"We're pleased to build on our strong existing relationship with SriLankan Airlines,” said Ron Wainshal, Aircastle's chief executive officer. “These A330s are modern and fuel efficient aircraft that play a key role in the airline's growing long-haul operations."