NASAIR FINANCE ARRANGEMENT FOR NEW AIRCRAFT IS A NEW ONE ON THE MARKET

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By TESTCustomwebLP TESTCustomwebLP January 24, 2011 14:58

NASAIR FINANCE ARRANGEMENT FOR NEW AIRCRAFT IS A NEW ONE ON THE MARKET

Nasair, Saudi Arabi’s only low cost carrier, has ordered 14 Embraer 190s through a first of its kind aviation finance structure in Brazil where a financial institution provided the liquidity based on a government guarantee.

Natixis Transport Finance was lead arranger on the deal and provided 80% of the acquisition of the first Embraer 190 (around $34 million) based on a guarantee issued by the Brazilian government.

Taher Agueel, the executive board member and financial advisor of NAS, the holding company that owns Nasair, said: “NAS is pleased to be part of this first of a kind financial innovation in Brazil. Also, this was the first time the Brazilian government issues a guarantee under the structure to a company in Saudi Arabia and reflects the promising future of Nasair, the creditworthiness of NAS, and the solid support from its shareholders. The innovative financial structure enabled Nasair to exploit a new source of funding aircraft acquisition. And the importance of the structure is that it paves the road as well for funding future deliveries.”

Another Embraer 190 aircraft is expected to be received by Nasair under similar finance arrangements within few weeks.

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By TESTCustomwebLP TESTCustomwebLP January 24, 2011 14:58
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