Tuesday, May 28, 2013

■ SOUTH AFRICA: Comair Ltd signs deal with Investec to finance purchase of four 737-800s.

Comair LtdFollowing a previous transaction which saw South Africa's Comair acquire four new Boeing 737-800s for its LCC, kulula (MN), the airline group has selected Investec Aviation Finance to act as financier of the pre-delivery payments and as lead arranger and advisor on the term finance for Comair’s additional four Boeing 737-800 purchases.

kulula 737-800
kulula 737-800 (airlinersgallery)
The first transaction dates back to November 2010 when Investec financed the pre-delivery payments and structured the term facility for the initial four Boeing aircraft.

Commenting on the new mandate, Investec Corporate and Institutional Banking’s Head of Aviation Finance, Melanie Humphries said: 
We are pleased to have been mandated again. Our strong relationship with Comair and in depth understanding of our client’s needs gave us a distinct advantage when structuring the initial transaction. We are hopeful for a similarly successful closing as we had on the previous acquisition.
Investec Aviation Finance is a global aviation bank with offices in Johannesburg, London, Sydney, Dublin, and Mumbai. This transaction is in line with Investec's strategy of providing capital in support of its global clients for their aviation fleet acquisition and renewal efforts.