Emirates inks 777 Sale And Leaseback

Dubai’s Emirates Airline has closed a sale and leaseback deal for five 777-300ERs with Novus Aviation Capital.

Dubai’s Emirates Airline has closed a sale and leaseback deal for five 777-300ERs with Novus Aviation Capital.

Hani Kuzbari MD at Novus described the transaction, which was negotiated between February and March 2015, as a “landmark” deal.

“Airlines are rapidly expanding their aircraft fleet, which in turn is spurring demand for large leasing and financing solutions within shorter timeframes, especially in the Middle East and Asia.

Novus recognises this and we have designed our business model to absorb these large transactions spanning multiple aircraft,” he said.

The latest acquisition brings Novus’ portfolio value size, including leasing and financing transactions, to close to $3bn.

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