SIA’s third A380 financing syndicated

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Financing for Singapore Airlines’ (SIA) third Airbus A380-800 (MSN 006) was syndicated within hours of the launch through the German co-operative sector banks with an equity volume of $98.3 million, according to Commercial Aviation Online, flightglobal.com's sister premium news site.

The aircraft has been in operational service since 11 March and is primarily serving the London Heathrow - Singapore route.

On 26 April, SIA took delivery of its fourth A380-800 (MSN 008) from Airbus. Deutsche Bank will distribute this aircraft fund, together with a further A380 yet to be delivered.

The first two A380 (MSN 003, 005) financings were distributed with "similar success", says Doric Asset Finance. Doric is the arranger of the first five SIA A380 financings, which are being sold into the German Kommanditgesellschaft (KG) market.

All five aircraft, which are being purchased from Airbus Financial Services, have a base purchase price of $198.6 million and are financed under 10-year German operating leases to the Singapore carrier.

Future A380 operator Qantas Airways has been eyeing similar financings in the German KG market for its first two Airbus deliveries; however, banking sources say the airline has mandated Chinese banks instead.

Source: flightglobal.com's sister premium news site Commercial Aviation Online