Aviation Capital Group Announces Mandate to Finance Two Boeing 787-9 Aircraft for Turkish Airlines
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Dec 19, 2018--Aviation Capital Group LLC (“ACG”), a leading aircraft operating lessor, announced today that it has been mandated by Turkish Airlines (“THY”) to structure, arrange, and provide a guarantee for senior loans to finance a portion of the purchase price of two (2) Boeing 787-9 aircraft. The aircraft are expected to deliver to THY in July 2019.
The THY financing mandate was awarded to ACG in connection with ACG’s Aircraft Financing Solutions (“AFS”) program. The AFS program complements ACG’s operating lease business by providing customers with cost effective aircraft financing. Among operating lessors, ACG believes that it has created a unique aircraft financing program.
“ACG is extremely pleased to have this opportunity to work with THY. The award of a financing mandate from THY is a notable achievement for our AFS program,” said Bob Roy, managing director of ACG.
“As one of the leading airlines using structured aircraft financing, we are delighted to include the AFS program in our diversified portfolio of different financing types. We look forward to working with ACG in the financing of our two new B787 aircraft with the AFS program which we expect to be a sustainable long-term financing option in our future deliveries,” said Aysegul Denli, Senior Vice President, Finance of Turkish Airlines.
About Aviation Capital Group
Aviation Capital Group is one of the world’s premier full service aircraft asset managers with approximately 500 owned, managed and committed aircraft as of September 30, 2018, which are leased to approximately 90 airlines in approximately 45 countries. ACG was founded in 1989 and is an indirect majority-owned subsidiary of Pacific Life Insurance Company.
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KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES AIR TRANSPORT INSURANCE FINANCE
SOURCE: Aviation Capital Group LLC
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PUB: 12/19/2018 03:00 PM/DISC: 12/19/2018 03:01 PM