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Gulf Air closes financing on first two A321s

Gulf Air has mandated financing of two new Airbus A321 aircraft to Pembroke and Standard Chartered Bank under an eight-year purchase and leaseback transaction, according to a source.

The aircraft, MSNs 5025 and 5074, are powered by V2533-A5 engines.

Last year the Middle-East carrier approached the market with a request for proposals for six new Airbus narrowbody aircraft scheduled for delivery this year. Gulf Air asked for purchase and leaseback financing covering two Airbus A320s and four Airbus A321s.

The carrier received a total of six bids: Alafco Aviation, BBAM Aircraft Leasing, CIT Aerospace, Macquarie Aircraft Leasing, Novus Aviation and Pembroke/Standard Chartered Bank.

Earlier this month Gulf Air closed a new A320 delivery under a sale and leaseback agreement with MC Aviation Partners. The aircraft, MSN 5171 is the second of two under an eight year transaction.

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