CA-CIB closes Avation’s ATR 72 financings

This story is sourced from

French bank Crédit Agricole Corporate & Investment Bank (CA-CIB) closed financing on the final ATR 72-600 aircraft for operating lessor Avation last month.

The aircraft, MSN 1068, is part of a facility, up to $152.2 million, covering four ATR 72-500s and four ATR 72-600s with a 10-year term.

CA-CIB arranged the export credit agency- (ECA) guaranteed loan and jointly acted as lender with KfW IPEX-Bank.

The aircraft has been leased to Australian regional carrier Skywest Airlines, who will in turn wet-lease it to Virgin Australia.

The French bank also acted as facility agent in the transaction.

Avation's first ATR 72-600 delivery, MSN 1025, closed last August. Another aircraft of the type joined the same month while the third delivery was in November. According to Flightglobal's Ascend Online database, four more ATR 72-600s are scheduled to be delivered to Avation this year.