LOT mandates 787 delivery

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LOT Polish Airlines has mandated financing on an upcoming Boeing 787 delivery, says a source familiar with the situation.

The Polish flag carrier has entered a 12-year sale and leaseback agreement with operating lessor Intrepid Aviation.

The aircraft, which is scheduled to close in March, is the sixth 787 delivery for LOT.

LOT secured financing for the first five aircraft of the type with a US Export-Import Bank-guaranteed loan provided by Apple Bank for Savings, with an option to refinance the units in the capital markets with KGS-Alpha Capital Markets. Four deliveries in 2013 were financed with Ex-Im bonds.

The airline has another two 787 deliveries scheduled for 2015-16.