HSBC finances Arik Air 737NGs

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HSBC is financing the three Boeing 737 Next Generation aircraft Arik Air has acquired from GECAS.

The 2001-vintage aircraft equipped with CFM56-7B26 engines were on lease to Aloha Airlines since 2001 but returned to GECAS in April last year.

CAO understands that debt financing has been provided by HSBC. The transaction is believed to be included in the ECA-wrapped facility provided last year by HSBC covering the two A340-500 that Arik acquired from Airbus.

HSBC provided the senior debt while CAO understands local bank Union bank provided the junior debt on the A340-500 transaction.