Avation secures $24 million PDP and inks sale-leaseback with Thomas Cook

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP March 4, 2015 21:51

Avation secures $24 million PDP and inks sale-leaseback with Thomas Cook

Avation has secured a $16 million Pre-Delivery Payment (PDP) finance facility from a major European Bank.

The use of funds is to finance PDPs for two new A32-200s, which will be delivered in February and March 2016 and leased to Thomas Cook for a period of 12 years.

This is Avation’s first PDP financing program. The Company has already invested US$ 8.2m in the aircraft transaction with the additional US$16m PDP facility provided by major European Bank.

Jeff Chatfield, Executive Chairman, said: “We continually seek to acquire aircraft with a wide range of finance solutions. The establishment of the PDP finance program provided by the company with the assistance of a major European bank, is another important step in the group’s fleet expansion program.”

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP March 4, 2015 21:51