DVB finances TAP Portugal's Airbus aircraft portfolio

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

DVB Bank closed financing on a nine Airbus aircraft portfolio, including six narrowbodies and three widebodies, for TAP Portugal.

The finance facility, co-underwritten with GE Japan Corporation/ PK Airfinance, covered four Airbus A319s, two A320s and three A330-200s.

According to Flightglobal's Ascend Online database, TAP Portugal has 19 A319s in service, of which two aircraft are leased from Aviation Capital Group and ILFC.

Among its 17 A320-aircraft fleet, five 2009-vintage aircraft are owned by AerCap's Aircraft Lease Securitisation (ALS) II, another four by Macquarie AirFinance, while CDB Leasing Company and ILFC own one aircraft each.

Of 12 A330-200s, three 1999-vintage PW4168A-powered aircraft are owned by purpose company Millenium BCP while five CF6-powered aircraft are under the ownership of Tomar Aviation. TAP has three 1997/99-vintage aircraft under its ownership while the remaining aircraft is subleased from Austrian.

Clifford Chance acted for DVB Bank while Freshfields acted for TAP Portugal.