Novus Aviation closes 777-300ER acquisition

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Novus Aviation, through a new partnership with Compass Point Aviation, has closed the acquisition of a new Boeing 777-300ER from Emirates Airline.

The aircraft, MSN 36500, was delivered to the Middle East carrier at the end of June and was acquired under a sale and leaseback transaction for at least 10 years, according to a source.

Novus mandated an unnamed Saudi bank for the financing and DVB Bank to arrange the debt financing portion.

DVB is the facility agent and security trustee. Novus is the overall arranger, co-investor, lease manager and remarketing agent of the transaction.

The transaction marks the third widebody acquisition since the beginning of the year for Novus, after it closed another 777-300ER with Emirates in May.

In January, Novus acquired a new Airbus A330-300HGW and placed it on lease to Malaysian Airlines.