Dubai, United Arab Emirates – 31st May, 2024 – Novus Aviation Capital’ Tamweel Aviation Finance today announced the provision of a junior loan to Virgin Atlantic in relation to a 2024 vintage A350-1000 aircraft which was delivered on 24th May 2024.
This financing arrangement allowed Virgin Atlantic to seamlessly integrate the state-of-the-art A350-1000 into its fleet, enhancing the airline’s operational efficiency and supporting its strategic objective of reducing environmental impact.
“We are thrilled to welcome Virgin Atlantic as a new customer to Novus Aviation Capital and Tamweel Aviation Finance,” said Simon Clements, Executive Vice President at Novus Aviation Capital. “This transaction marks a significant milestone for us as it showcases our commitment to providing innovative and flexible financing solutions to our clients. We look forward to a long-term partnership with Virgin Atlantic, supporting their fleet expansion and sustainability goals.”
“Virgin Atlantic has been committed to innovation and collaborating with the best partners since 1984, as demonstrated by this latest partnership.” said Ansar Hussain, VP of Corporate Finance at Virgin Atlantic. “The Airbus A350 plays a significant role in our fleet transformation, enabling us to fly one of the youngest, cleanest fleets which is now fully financed through to Q4’25.”
In this transaction, La Banque Postale, MUFG, and Natixis CIB acted as senior lenders and mandated lead arrangers, with the finance lease transaction structured as a “French optimized lease,” combined with an Itasca MGA insured senior loan. Natixis CIB also acted as lease arranger and agent.
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About Virgin Atlantic
Virgin Atlantic was founded by entrepreneur Sir Richard Branson in 1984, with innovation and amazing customer service at its core. Headquartered in London, it employs more than 8,500 people worldwide, flying customers to 30 destinations across four continents.
Alongside shareholder and Joint Venture partner Delta Air Lines, Virgin Atlantic operates a leading transatlantic network, with onward connections to over 200 cities around the world. Virgin Atlantic joined SkyTeam in March 2023 as the global airline alliance’s first and only UK member airline, enhancing the alliance’s transatlantic network and services to and from Heathrow and Manchester Airport.
For more information visit www.virginatlantic.com or via Facebook, Twitter and Instagram @virginatlantic.
About Novus Aviation Capital
Novus, was established in 1994 as an independent, privately-held aircraft leasing platform, focused on investing in commercial aircraft assets. The Novus team operates out of its five global offices in the Middle East, Europe and Asia and is active in operating and finance leases, mezzanine and junior debt as well as third-party aircraft remarketing, servicing and advisory services.
Visit www.novus.aero for more information
