Aviation Capital Group grants secured financing for 2 aircraft to TAP Air Portugal

Aviation Capital Group has provided secured financing for two Airbus A321neo LRs to TAP Air Portugal.

This financing marks the fifth time that Aviation Capital Group’s aircraft financing solutions program has utilized its $650 million secured financing facility. This enabled Aviation Capital Group to provide a senior secured loan to TAP Air Portugal and partner with Novus Aviation Capital, which provided additional mezzanine financing.

“ACG is grateful to have had the opportunity to work with TAP and Novus on this financing. We were able to leverage our established relationship with Novus to effectively merge senior and junior loans and provide TAP with fast and efficient financing. Additionally, we were finally able to fulfill ACG’s longstanding desire to work with TAP again,” said Andrew Falk, Managing Director of Aviation Capital Group.

“We are delighted to complete this transaction with ACG and TAP, continuing to support an existing airline customer,” said Mamoun Kuzbari, Chief Commercial Officer of Novus Aviation Capital. “Not only are we building on our relationship with this additional funding for TAP, but we are also very proud to have a strong foundation with ACG that will allow both parties to collaborate on future opportunities. This debt structure is an attractive value proposition and the combination of asset type and stakeholders involved makes it attractive to both Novus and Tamweel Aviation Finance, one of the industry’s leading providers of mezzanine loans.

“TAP is very pleased to work with ACG and Novus on this financing and we are very confident that these two additional A321neo LR aircraft joining our fleet, already one of the youngest and most successful in the world, will contribute to the success of our airline,” said Gonçalo Pires, Chief Financial Officer of TAP Air Portugal.

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