KfW IPEX-Bank in cooperation with PTA Bank finances a wide-body Airbus aircraft for RwandAir

Eleanor Steed
By Eleanor Steed September 30, 2016 16:10

KfW IPEX-Bank in cooperation with PTA Bank finances a wide-body Airbus aircraft for RwandAir

KfW IPEX-Bank is financing the acquisition of an Airbus A330-200 jetliner for the Rwandan airline RwandAir. The bank will extend the loan to the supranational Eastern and Southern African Trade and Development Bank (PTA Bank), which will channel the funds as debt capital to RwandAir. It is KfW IPEX-Bank’s first aircraft financing package in this specific structure (known as on-lending).

RwandAir A330-200

RwandAir A330-200

Established in 1985, PTA Bank is a multilateral, treaty-based financial institution with preferred creditor status and immunities. The mission and objectives are to provide developmental capital and services in the region, through customer focused and innovative financing instruments.

This is RwandAir’s first acquisition of a wide-body aircraft. The Kigali-based airline will also be the first East African airline with an Airbus from the A330 family in its fleet. The aircraft seats 244 passengers and is to be used on scheduled flights to Dubai and India. Airbus has delivered the aircraft in Toulouse on 26 September 2016. A second aircraft from the A330 family – being A330-300 – will be delivered to the airline later this year.

Eleanor Steed
By Eleanor Steed September 30, 2016 16:10