LISBON, PORTUGAL — California-based aircraft leasing company Aviation Capital Group announced that the American lessor secured financing of two Airbus A321LR jets for the Portuguese flag carrier TAP Air Portugal.

This financing marks the fifth use by ACG’s Aircraft Financing Solutions (“AFS”) program of its $650 million secured funding facility. This allowed ACG to provide a senior secured loan to TAP and to partner with Novus Aviation Capital (“Novus”), which provided complementary mezzanine financing. Together, ACG and Novus were able to offer TAP an attractive and comprehensive financing solution.

“ACG is grateful to have had the opportunity to work with TAP and Novus on this financing. We were able to draw upon our established relationship with Novus to effectively meld the senior and junior loans and to provide TAP with timely and efficient financing. Moreover, we were finally able to bring to fruition ACG’s long-held desire to work with TAP again,”

said Andrew Falk, Managing Director of ACG.

“We are delighted to complete this transaction with both ACG and TAP, continuing to support an existing airline customer,”

said Mamoun Kuzbari, Chief Commercial Officer, Novus Aviation Capital.

“Not only are we building on our relationship with this additional financing for TAP, but we are also very proud to have a strong foundation with ACG that will allow both parties to collaborate on future opportunities. This debt structure is an attractive value proposition and the combination of asset type and stakeholders involved makes it appealing for both Novus and Tamweel Aviation Finance, one of the industry’s leading mezzanine loan providers,” Kuzbari added.

“TAP is very pleased to work with ACG and Novus on this financing and we are very confident that these two additional A321neo LR aircraft that are joining our fleet, already one of the youngest and most efficient in the world, will contribute to the success of our airline,”

said Gonçalo Pires, Chief Financial Officer of TAP Air Portugal.