Global Knafaim Leasing has raised $36.2 million in commercial loans from an unnamed US bank for the financing of two narrowbody aircraft recently acquired from an operating lessor.
The Israeli leasing arm of Knafaim Holdings acquired on 15 October one Airbus A321 manufactured in 2006, on lease to BMI until 2018, and a 1999-vintage Boeing 737-800 leased to South African’s Comair until 2021, it says in an announcement on the Tel Aviv stock exchange.
On the same day, SMBC Aviation Capital announced the sale of an A321 and a 737-800 from its own portfolio.
The total cost of the acquisition is $56.5 million, says Knafaim Holdings and the remaining $16.3 million is funded with the company’s own cash and aircraft deposits.
The lease payments are expected to total $36.5 million over the lease period.
The deal will increase Global Knafaim’s fleet to 18 aircraft on lease to 10 airlines.
SMBC Aviation Capital declined comment on this story.