Castlelake announced it has completed the financing of a loan to United Airlines through its aviation lending program. The loan is secured by four Boeing 2020 Vintage 787-9 aircraft, which have an appraised aircraft value of more than $540 million.

“We are pleased to partner with United, one of the world’s largest airlines, to provide them with tailored financing solutions to support their global growth strategy,” Armin Rothauser, partner and head of asset-backed direct lending at Castlelake, said. “In the current economic environment, we are seeing an increase in demand for flexible financing solutions and more opportunity to partner with airlines, lessors and other industry participants to deliver these solutions.”

“Castlelake’s deep expertise in aviation financing and investing have been exceptionally valuable throughout our relationship,” Pam Hendry, vice president and treasurer at United, said. “Through this transaction, we are able to further support our customers and global fleet.”