Dubai, United Arab Emirates – 31st May, 2024 – Novus Aviation Capital’ Tamweel Aviation Finance today announced the provision of a junior loan to Virgin Atlantic in relation to a 2024 vintage A350-1000 aircraft which was delivered on 24th May 2024.

This financing arrangement allowed Virgin Atlantic to seamlessly integrate the state-of-the-art A350-1000 into its fleet, enhancing the airline’s operational efficiency and supporting its strategic objective of reducing environmental impact.

“We are thrilled to welcome Virgin Atlantic as a new customer to Novus Aviation Capital and Tamweel Aviation Finance,” said Simon Clements, Executive Vice President at Novus Aviation Capital. “This transaction marks a significant milestone for us as it showcases our commitment to providing innovative and flexible financing solutions to our clients. We look forward to a long-term partnership with Virgin Atlantic, supporting their fleet expansion and sustainability goals.”

“Virgin Atlantic has been committed to innovation and collaborating with the best partners since 1984, as demonstrated by this latest partnership.” said Ansar Hussain, VP of Corporate Finance at Virgin Atlantic. “The Airbus A350 plays a significant role in our fleet transformation, enabling us to fly one of the youngest, cleanest fleets which is now fully financed through to Q4’25.”

In this transaction, La Banque Postale, MUFG, and Natixis CIB acted as senior lenders and mandated lead arrangers, with the finance lease transaction structured as a “French optimized lease,” combined with an Itasca MGA insured senior loan. Natixis CIB also acted as lease arranger and agent.