Aviation Capital Group LLC (ACG), a California-based aircraft operating lessor, has announced it has structured, arranged and provided a guarantee of a senior secured loan by Apple Bank for Savings (Apple Bank) to finance a portion of the purchase price of one Airbus A350-1000 aircraft delivered to Virgin Atlantic Airways (Virgin Atlantic), the company said.
Rand Merchant Bank through FirstRand Bank Limited (London Branch) (RMB) provided a subordinated secured loan for a portion of the remainder of the aircraft purchase price. The Virgin Atlantic financing utilized ACG´s Aircraft Financing Solutions (AFS) program. The AFS program complements ACG´s operating lease business by providing customers with cost effective aircraft financing solutions. Among operating lessors, ACG believes that it has created a unique aircraft financing program. Aviation Capital Group is a full-service aircraft asset managers with approximately 500 owned, managed and committed aircraft as of June 30, 2019, which are leased to approximately 90 airlines in approximately 45 countries.