SINGAPORE — Singapore Airlines and the Korean aircraft lessor Crianza Aviation has successfully closed the sale and lease-back of one Airbus A350-900 aircraft.
The transaction features a novel, multi-layered financing structure with a Balthazar covered senior loan arranged and provided by KfW IPEX-Bank which is complemented by Korean mezzanine debt as well as equity from Korean investors together with Crianza. Balthazar is a non-payment insurance product launched by Airbus, Marsh, and a pool of highly-rated insurers in 2019 to support lenders’ and investors’ long-term financing for Airbus aircraft.
“Even though the aviation industry is currently heavily restricted due to the spread of COVID-19, we are anticipating demand to rise again after the pandemic has subsided” explains Andreas Ufer, member of the KfW IPEX-Bank Management Board.
“The A350 is a fuel-efficient, environmentally friendly aircraft of the Airbus family, representing state-of-the-art technology and is expected to be one of the widebody aircraft shaping the future of air travel.”
