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Avation closes financing facility

"We are very pleased to add Avation to the growing list of customers of Novus" said Mounir Kuzbari, MD at Novus.

Proactive

Tamweel Aviation Finance (TAF) has closed the financing of the third of a three-A321-200 new aircraft leasing facility for Avation PLC (LON:AVAP).

All three aircraft are on long-term operating leases with fast-growing Vietnamese low-cost carrier VietJet Air.

"A key driver of Avation's profitability is the overall cost of finance and the amount of leverage. TAF's mezzanine facilities are a useful leverage tool for transactions of this nature," said Jeff Chatfield, executive chairman at Avation.