International Airfinance Corporation (“IAFC”) has signed a firm purchase agreement for five Airbus A330-200 aircraft. The agreement also includes options for an additional four A330-200 aircraft.
Based on list price, the contract value for IAFC’s transaction covering five Airbus A330-200 aircraft and four options is approximately $2 billion US Dollars. Firm Aircraft are already placed on long term operating lease with a flag carrier.
“We are very pleased with this inaugural acquisition for IAFC which constitutes a first step in our development to become a significant player in the Middle-East, we are working to conclude other aircraft acquisitions in order to develop our leasing portfolio” said Moulay Omar Alaoui, President and CEO of International Airfinance Corporation.
“IAFC is building a portfolio with reputable and creditworthy lessees. This acquisition will enable us to place a significant number of aircraft with prime lessees from the Middle East and will contribute to the performance of our investor’s return.” added Dr. Idriss Ghodbane Managing Partner & Board member of IAFC.
The Middle East based Lessor, International Airfinance Corporation, is the Manager of Sharia compliant ALIF Fund (USD 5 billion targeted size) launched in June 2014 and seeded by Airbus and the Islamic Development Bank.
“Following the launch of the fund in June 2014, Airbus is delighted to see this first transaction with leases to a core customer in the Middle East and we are looking forward to expanding our relationship with the ALIF fund” said Nigel Taylor, Senior Vice President Customer, Project and Structured Finance of Airbus Group.