Boeing, Novus Announce Commitment for up to Four 777-300ERs

Commitment marks
Dubai-based lessor’s first direct agreement with Boeing


United Kingdom — Boeing [NYSE: BA] and Dubai-based aircraft lessor,
Novus Aviation Capital, announced its first agreement with Boeing for up to
four 777-300ERs (Extended Range) at the 2018 Farnborough International Airshow.


The commitment
carries a list-price value of $1.44 billion and will be reflected on Boeing’s
Orders and Deliveries website once it is finalized.


“We are
delighted to complete a new milestone in our investment strategy and our
cooperation with Boeing,” said Hani Kuzbari, Managing Director at Novus Aviation
Capital. “This is in line with our continuous pursuit to create value within
our aircraft portfolio. We have successfully invested in the Boeing 777 over
the last decade with proven return on our investment. The aircraft type remains
a strong long-haul wide body aircraft for our airline customers globally.”


With 24 years of
aircraft leasing, financing and trading experience, Novus is one of the world’s
fastest-growing aircraft leasing financing platforms in the world. Operating
globally out of five offices in Europe, Asia and the Middle East, the company
has a portfolio under the management of around 50 aircraft worth nearly $4


“It is an honor to have Novus join
the Boeing family with this commitment,” said Ihssane Mounir, Senior Vice President
of Commercial Sales and Marketing, The Boeing Company. “The selection of the Boeing
777 will enable Novus to offer exceptional value to their customers around the
world.” Today’s agreement demonstrates the market-leadership of the enduring
777 program and we look forward to working closely with the customer to
finalize this milestone order.”


The 777-300ER
can seat up to 386 passengers in a three-class configuration and has a maximum
range of 7,930 nautical miles (14,685 km). The airplane is the most reliable
twin aisle flying today with the highest schedule reliability of any twin aisle
airplane at 99.5 percent.

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