IAFC launches $5bn ALIF fund

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By TESTCustomwebLP TESTCustomwebLP June 24, 2014 16:48

IAFC launches $5bn ALIF fund

Dubai-based Quantum Investment Bank and Palma Capital have been retained as the placement agents for the launch of a shariah-compliant aircraft leasing fund (ALIF Fund).

The fund will be managed by the International Airfinance Corporation (IAFC) with Airbus and the Islamic Development Bank (IDB) as anchor investors and strategic partners.

The fund was launched at a signing ceremony held in London on June 23rd.

The fund will focus on Airbus aircraft, taking advantage of a targeted size of $5bn from a combination of equity and debt.

The fund will operate according to shariah principles and will purchase both brand-new and second-hand Airbuses, which will be leased to airlines in the Gulf Cooperation Council (GCC) and Organization of Islamic Conference (OIC) member countries.

Habib Fekih, President of Airbus Group for MENA & Africa, said: “Airbus has been very successful in growing its market share in the MENA region over the last two decades and this innovative financing initiative will enable us to satisfy our customers’ financing needs even more effectively.”

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By TESTCustomwebLP TESTCustomwebLP June 24, 2014 16:48
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