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DVB closes two refinancings for core clients
28 January 2010
European bank, DVB Bank, refinanced aircraft for two airlines in December, but financing older equipment will remain difficult in 2010.
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DVB Bank
A320-200
Jazeera Airways
Kuwait
Thomas Cook
Airbus
export credit financing
One of the few banks in the market lending commercial loans, DVB Bank closed two debt re-financings in December.
The first was for one 2008-vintage A320-200 for Jazeera Airways. The Kuwaiti airline used the nine-year facility to repay the debt for a bridge financing when the aircraft was delivered.
DVB has financed multiple A320s for the Jazeera Airways. The airline is one of the bank’s relationship accounts and it also co-invests in an aircraft leasing joint venture.In...
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