DHL Express and Lufthansa Cargo completed lease agreements this week for eight new aircraft for their joint venture, which they named "Aerologic" on Monday.

In September of last year, DHL and Lufthansa announced the formation of an airline in which they each own 50 percent. Based in Leipzig/Schkeuditz at Leipzig/Halle Airport, AeroLogic developed from a joint venture set up by the two partners in 2004.

The new aircraft will be 777-200LRFs leased from Deucalion Capital VII. The first four will arrive in early 2009. The airline is expected to launch operations at the start of the 2009 summer timetable. Four more freighters will follow in 2010, a further two in 2011 and a reserve aircraft will join the fleet in 2012.

Recruitment is underway for approximately 200 pilots.

Joint Managing Directors Dr. Thomas Papke (formerly Lufthansa Cargo) and Thomas Pusch (formerly DHL Express) will lead the company's management team.