Novus Aviation Capital closes purchase and leaseback transaction with Emirates Airline for five Boeing B777-300ERs
Dubai UAE, March 23, 2015 Novus Aviation Capital has successfully closed the purchase and leaseback for five Boeing B777-300ERs with Emirates Airline. The transactions were closed between February and March 2015.
We are very pleased to enter into this landmark leasing transaction with Emirates Airline. Such large underwritings for a single airline within short periods of time are precisely the type of transactions we can add value to and constitute an integral element in sustaining our competitive advantage. With continuous traffic growth, airlines are rapidly expanding their aircraft fleet which in turn is spurring demand for large leasing and financing solutions within shorter timeframes, especially in the Middle East and Asia. Novus recognizes this and we have designed our business model to absorb these large transactions spanning multiple aircraft, said Hani Kuzbari, Managing Director at Novus.
More and more airlines today are recognizing the value of the Novus approach and our ability to underwrite and execute large twin aisle aircraft transactions, he added. The latest acquisition brings the Novus overall portfolio value size, including leasing and financing transactions, to close to USD 3 billion. The Novus portfolio now includes 9 Boeing B777s.
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