Tamweel Aviation Finance (TAF) has closed the
financing of the third of a three-A321-200 new aircraft facility for Avation
PLC (AVAP.LN), the London LSE listed and Singapore based lessor. All three
aircraft are on long-term operating leases with fast-growing Vietnamese
low-cost carrier VietJet Air.
TAF is the finance leasing platform managed by Novus
Aviation Capital (Novus) which brings together a partnership of Airbus SAS
(Airbus), the Development Bank of Japan Inc (DBJ) and Norddeutsche Landesbank
Girozentrale (Nord/LB) to provide attractive high LTV mezzanine financing to
the world’s airlines and lessors for Airbus products. Having just completed
three years of successful operation, TAF has grown to a portfolio size of more
than US$1 billion of assets by market value.
“We are very pleased to add Avation to the growing
list of customers of Novus dedicated financing platform,” said Mounir Kuzbari,
Managing Director at Novus.
“A key driver of Avation’s profitability is the
overall cost of finance and the amount of leverage. TAF’s mezzanine facilities
are a useful leverage tool for transactions of this nature,” said Jeff
Chatfield, Executive Chairman at Avation PLC.
About Novus Aviation Capital:
Novus is an
independent, privately-held aircraft leasing platform, focused on investing in
commercial aircraft assets. Established over 22 years ago, the Novus team
operates out of its five global offices in the Middle East, Europe and Asia.
The company currently co-owns and manages aircraft-related projects worth about
USD 3 billion.
Avation PLC (AVAP.LN):
information on Avation can be seen at: www.avation.net
is a commercial passenger aircraft leasing company owning and managing a fleet
of jet and turbo prop aircraft which it leases to airlines across the world.
The Company’s customers include Vietjet Air, Thomas Cook, Air France, Condor
Flugdienst, Air Berlin, Virgin Australia Airlines, Fiji Airways and UNI Air.