US Ex-Im and AirFinance fund two AW139 deliveries

US Ex-Im and AirFinance fund two AW139 deliveries 21 May, 15, Source: Air Finance

As a Qualified Advisor to the Export-Import Bank of the United States (Ex-Im Bank), AirFinance has facilitated the financing for three aircraft deliveries this month.   A US-made Gulfstream G450 was financed for Azikel Air Limited to support travel for this Nigerian based business.  AirFinance also facilitated the pre-delivery payment financing for this Gulfstream aircraft.  Two US-made AgustaWestland AW139 helicopters were financed for North Pole Investments in Panama for leasing and use in Colombia’s offshore oil and gas industry.The North Pole Investments Ex-Im Bank guaranteed financing was co-financed with Italy’s export-credit agency, Servizi Assicuratividel Commercio Estero, S.p.A. (SACE), which provided a guarantee for a portion of the financing covering non-US content.

“We are pleased to finance these quality aircraftfor leading businesses in their respective countries,” said Tom Low, Managing Director AirFinance. “AirFinance values the relationship with these aircraft buyers and was able to work closely with them to provide the aircraft financing that fit their needs.”

AzikelGroup is a Nigerian conglomerate, in the business of dredging/reclamation, power generation, aviation, oil and gas and lately into food production. Azikel Group is styled with the theme of feeding the people and sustaining development.  Azikel’sG450 is a new acquisition to the fleet of aircrafts in Azikel Air Limited, a subsidiary of Azikel Group. “Obtaining financing in Nigeria with reasonable terms and conditions is very difficult.  Working with AirFinance to get Ex-Im backed funding has proven to be a successful option that has redefine our journey into achieving greater height in the aviation subsector of Azikel Group”, said Dr. Azibapu Eruani, President Azikel Group.

“This G450 delivery to Nigeria reflects the tremendous teamwork necessary to open up new markets and ensure the continued success of America’s aviation industry,” said Scott Neal, senior vice president Worldwide Sales and Marketing, Gulfstream. “It requires the support of Ex-Im Bank and financial institutions like AirFinance and Apple Bank to provide financial expertise and backing to make these deals happen.  Together, we contribute to the general aviation industry’s $219 billion in economic output and 1.1 million jobs in the U.S.”

North Pole Investments is an aviation lessor headquartered in Panama City. The company leases aircraft mainly to Helistar S.A.S., a civil charter services operator based in Colombia. The AW139 helicopters being financed will be leased to Helistar and will be deployed for offshore oil and gas crew transport in the Colombian Caribbean continental shelf.“Our experience with AirFinance was very good.” said Diego Galvis, Finance Manager at NPI.  “They really helped us structure the credit with Ex-Im Bank the way we wanted it and also helped us all the way from preparing the documentation, approval process and disbursement of the credit.”

“Since the Ex-Im Qualified Advisor Program was announced in 2012, AirFinance has been able to support $478 million in additional general aviation sales through this Ex-Im program,” said AirFinance Managing Director Kirsten Bartok.  “We have been able to expand our private public partnerships to include other Export Credit Agencies where we can add value by facilitating processes to assist aircraft buyers.”

ABOUT AIRFINANCE: AirFinance is a global company focused on the export credit financing of general aviation aircraft including business jet, turboprops, and helicopters with emphasis on transactions outside of the United States.  Since the creation of Ex-Im’sQualified Advisor Program, AirFinance has partnered with Apple Bank and Ex-Im to approve PDP and long term transaction totally more than $635 million.  AirFinance also has a strong relationship with Export Development Canada and other key export credit agencies that support business jet or helicopter financing.  AirFinance has arranged and coordinated over $150 million of aircraft financing with export credit agencies outside of Ex-Im’s Qualified Advisor Program.

AirFinance’s management is made up of a team of aviation professionals distributed globally with extensive industry experience including but not limited to aircraft finance, leasing, credit analysis, structuring of cross border transactions, legal and domicile expertise. The team also possesses deep technical knowledge of all aspects of aircraft asset management. For more information, visit www.airfinanceco.com.

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