Southern Air will lease planes from Transamerica.

Oakland-based Transamerica Airlines announced that it will lease 12 Lockheed Hercules L-100-30 aircraft to Southern Air Transport for about 13 months. At the end of the period, Southern will have an option to buy the planes for $93 million. During the lease, Transamerica will have the right to sell the aircraft to third parties. The new agreement replaces a previous agreement for Southern to buy the 12 planes, plus spare parts, for $82.5 million.