Grupo Santander has signed a loan facility with TRIP Línhas Aéreas, covering the financing of three new ATR 72-500 aircraft.
The bank is the sole arranger of a 12-year finance lease structure, which is supported by COFACE and SACE. Grupo Santander provided the equity and the debt in the transaction.
The first ATR 72-500 aircraft, MSN 911, was delivered in August. TRIP received the second aircraft (MSN 918) last week, which marked the 900th ATR aircraft handed over by the Franco-Italian manufacturer.
The remaining aircraft. MSN 926, that is included in the facility is scheduled for later this month.
Talking to CAO, TRIP's CEO Jose Mario Caprioli says the financing was 'innovative.'
Grupo Santander recently closed financing on six new Embraer 195 aircraft for Azul Linhas Aéreas Brasileiras through the first ever Spanish Operating Lease (SOL) financing structure with Brazilian Development Bank (BNDES) providing the debt.
Earlier this year, the Spanish bank provided the equity covering three Airbus A319-100 deliveries for TAM Linhas Aereas. The financing was structured as a 12-year export credit financing-supported combined with a Spanish Operating Lease.