Gulf Air’s sale and leaseback tender down to two parties

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Gulf Air's request for proposal (RFP) for Airbus A321 financing via sale and leasebacks is now down to two operating lessors.

The Bahraini flag carrier issued an RFP earlier this year and is looking to finance two deliveries.

According to a government tender filing, CIT Aerospace and ALAFCO Aviation Lease and Finance are still in the bidding.

In September, Gulf Air received proposals from ALAFCO, CIT Aerospace and Jackson Square Aviation.

Gulf Air operates four A321s. The first two aircraft are financed with Pembroke Group under an eight-year sale and leaseback transaction. Another two A321s were financed in Q3 2012 with Gulf International Bank under a commercial debt transaction with an eight-year tenor.

According to Flightglobal's Ascend Online database, Gulf Air holds a letter of intent for another six A321s.