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
This content is restricted to site members.
If you are an existing user, please login below.
New users may register below.