Aircastle Safeguards USD $530M in Financing

The A330-200F freighters would be the affiliate from the HNA Group, the parent company for Hainan Airlines, as the remaining Airbus aircraft are meant for South African Airways.The freighters should be sent to the HNA Group later this season and South African Airways expects their Airbus aircraft to become delivered this year.

This number of debt financing support for that seven new aircraft was approved the ecu Export Credit Reporting Agencies. Additionally, Aircastle seemed to be in a position to get a commitment from Sumitomo Mitsui Bank to have an initial area of the needed debt.

The commitment from Sumitomo Mitsui Bank, that is headquartered in Japan, was to have an amount as much as USD $250 million. This number of debts are also ECA-supported and it is for that first three Airbus A330-200 passenger aircraft.

Aircastle’s aircraft portfolio presently includes 129 aircraft and it has 59 client lessees. Aircastle’s customer airlines come in 33 countries, including US based carriers Southwest Airlines and US Airways, and Canadian air travel Air Canada. The organization manages the worldwide operations of it’s lease and purchase business through three offices, one found in the U . s . States, another in Ireland, along with a third servicing Asia in Singapore. Recent leasing activities include purchasing a Boeing 737-800 aircraft, which the organization leased towards the Travel Service Air travel, which operates from the Czech Republic.

Inside a statement released by Aircastle, Aircastle Chief executive officer Ron Wainshal states, “These ECA approvals to aid as much as $530 million indebted financing put our Airbus A330 acquisition program with an excellent financial footing.”

Wainshal continues, “We understand the confidence proven through the European Export Credit Reporting Agencies, including our lead agency, COFACE of France. We’re extremely very happy to have guaranteed a $250 million commitment from SMBC for the largest A330 placement, with South African Airways. We are searching toward awarding a mandate to supply term financing for that balance in our SAA and Hainan Group deliveries soon and dealing using the ECAs to aid the financial lending efforts on the remaining three A330 aircraft delivering within the other half of 2011 and also the first 1 / 2 of 2012.”