Industry

Published on May 12th, 2021 | by Alan Dwyer

0

Aergo Agree Sale and Leaseback Deal with Singapore Airlines

Dublin based Aergo Capital has completed a sale and leaseback deal with Singapore Airlines for two aircraft. The aircraft involved are an Airbus A350-900, 9V-SHD (c/n 278) and Boeing 787-10, 9V-SCJ (c/n 60282) both of which were delivered new to the airline in 2019. The aircraft are subject to long-term leases with Singapore Airlines and are financed by way of Sharia compliant funding with Dubai Islamic Bank (DIB). The deal by Singapore Airlines is part of a UD$1.5 billion funding drive to ensure the financial stability of the airline in the post COVID era. Singapore Airlines have agreed to a total of four sale and leaseback deals with various companies involving eleven of their aircraft in recent weeks.

Commenting on the deal, Fred Browne, CEO of Aergo said, “We are extremely happy to partner with Singapore Airlines and DIB. This transaction marks an important milestone for Aergo and demonstrates our commitment to invest and further grow our portfolio. The flexibility and broad range of skills inherent in the Aergo team enhances our ability to focus on a wide range of high quality deals that yield strong returns on equity while presenting relatively low downside risks. We found both Singapore Airlines and DIB to be proactive and highly professional partners in this transaction, resulting in a smooth closing process. We are looking forward to further developing our relationship with both parties.

Tags: , , ,


About the Author

Avatar



Comments are closed.

Back to Top ↑