Novus Aviation Capital Closes Emirates Sale/Leaseback

Novus Aviation Capital closed the purchase and leaseback for one additional brand new Boeing B777-300ER with Emirates Airline.

The aircraft was delivered to Emirates on September 23, 2016 and will be on a long-term lease. This would be the fourth B777-300ER transaction completed by Novus with Emirates this calendar year. This would also be Emirates’ 122nd B777-300ER.

“Emirates continues to be an important customer for Novus, and this fourth additional B777 acquisition this year, is a testimony of our continued support to the airline,” said Hani Kuzbari, managing director at Novus. “With the uninterrupted growth plans of Emirates, we will always look at innovative and competitive leasing and financing solutions that will benefit the airline,” he added.

Nirmal Govindadas, senior vice president Corporate Treasury for Emirates, said, “Our financial strength and solid track record continue to enable us to secure funding in the global market to invest in new aircraft and expand our wide-body portfolio. We are pleased to finalize this transaction, and we will continue to look for innovative financing opportunities to support our growing fleet.”

Novus has so far completed sale and leaseback and financing transactions worth close to $1 billion this year on both single and twin-aisle aircraft operated by airlines in the Middle East, Asia and the Americas.

Novus is an independent, privately-held aircraft leasing platform, focused on investing in commercial aircraft assets. Established over 22 years ago, the Novus team operates out of its five global offices in the Middle East, Europe and Asia. The company currently co-owns and manages aircraft-related projects worth about $3 billion.

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