Philippine Airlines (PAL) has signed a debt financing agreement with PK Airfinance and Novus Aviation Capital to fund four 2018 Airbus A321-200neo aircraft. PK AirFinance, a GECAS company, will provide the senior debt while Novus’ Tamweel Aviation Finance, a junior debt fund dedicated to the financing of Airbus aircraft, will extend a mezzanine loan for each aircraft. The loan will finance PAL’s acquisition of the aircraft and spare engine, part of the airline’s strategy to grow its medium-range routes while modernising its fleet. The first aircraft was delivered in May with the remaining three scheduled to deliver before the end

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