VELING CLOSES SALE-LEASEBACK OF FOUR 777-200ERS

Dino D'Amore
By Dino D'Amore December 21, 2010 10:29

VELING CLOSES SALE-LEASEBACK OF FOUR 777-200ERS

Veling, the Mauritius-based lessor, has closed a sale-leaseback of four Boeing 777-200ER aircraft leased to Emirates Airlines.

“We are gratified, by the renewed trust and confidence from Emirates, in our ability to successfully close these transactions,” said Uday Nayak, chairman and Nirvan Veerasamy, managing director of Veling. “We also worked closely with three African banks and one European Bank in the financing of this deal namely; Nedbank Capital from South Africa, DVB London Office, Bank One and the Mauritius Commercial Bank both from Mauritius. Veling is proud to further develop its business relationships with such prestigious banks and to acknowledge the growing receptiveness and ability of regional banks to participate and close complex aircraft financing transactions.”

The lessor has placed eleven widebodied aircraft this year as well as investing in General Aviation (Mauritius), a private terminal in Mauritius.

Veling currently manages a portfolio of fifteen aircraft under its ownership and/or management including four A340-300 (on lease to Sri Lankan Airlines), two ATR 72-500 (on lease to Kingfisher Airlines), three A310-300F (on lease to Deccan 360) and six B777-200/200ER (on lease to Emirates).

Dino D'Amore
By Dino D'Amore December 21, 2010 10:29
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