Intrepid Aviation financed its first 777-300ER from its current order book with Boeing. The aircraft delivered on October 27 and is on long-term lease to Philippine Airlines. The transaction was arranged by Natixis and financed by Philippine National Bank as lender.

“We are very happy to welcome Natixis and Philippine National Bank as new members of the Intrepid banking family and look forward to growing both relationships in the future,” said Oliver Geldner, Intrepid’s senior vice president of Corporate Finance.

“This financing represents another important milestone for the business as we continue to diversify our funding base. We are grateful to add such competent aviation asset finance banks as our partners,” said Mike Lungariello, Intrepid’s chief financial officer.

Intrepid Aviation is a privately held commercial aircraft lessor. It focuses primarily on twin-engine widebody and large narrowbody equipment, such as the Airbus A330, Airbus A321, Boeing 777 and Boeing 787.