BTMU finances Air New Zealand’s first ATR 72-600s

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Air New Zealand has mandated Bank of Tokyo Mitsubishi UFJ to finance the first of four ATR 72-600s from its seven-aircraft firm order, according to a source.

The bank will arrange a Japanese operating lease with call option (JOLCO) financing for deliveries through 2014.

The first aircraft, MSN 1056, closed at the end of October. The second aircraft is due for delivery in January 2013. The remaining two aircraft are expected in March and September 2013.

The new aircraft will enter service with ANZ subsidiary Mount Cook in mid-November, with the first flight scheduled for the Christchurch-Wellington route.

ANZ has a fleet of 11 ATR 72-500 aircraft in service with Mount Cook. The arrival of the new fleet of ATR 72-600s will grow Mount Cook's ATR fleet and allow the airline to further expand its domestic operations with new destinations and increased frequencies.

In December 2010, Bank of Tokyo Mitsubishi UFJ co-arranged an US Export-Import Bank guaranteed facility with Citibank for the financing of a new Boeing 777-300ER for Air New Zealand.

Earlier this year, a syndicate of banks including Australia and New Zealand bank, BNP Paribas, the Bank of Tokyo Mitsubishi UFJ and Development Bank of Japan acted as co-debt arrangers and underwriters of the Japanese Yen denominated financing on a new 777-300ER for Air New Zealand. The 12-year JOLCO financing was arranged by BNP Paribas.