Pegasus Airlines has closed an aircraft non-payment insurance (NPI)-backed financing with Itasca MGA for three A321neo aircraft. The first A321neo delivered to Pegasus and covered by the Itasca MGA policy also marked the airline’s 107th aircraft. The remaining aircraft are expected to deliver in the first half 2024. Itasca MGA, which specialises in underwriting, structuring and managing risk associated with secured commercial aviation financing, was created by alternative investment manager Castlelake and Pine Walk Capital, a wholly owned subsidiary of The Fidelis Partnership.

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