Investec Aviation Finance has announce the financing of a new Airbus A320ceo for Air Côte d`Ivoire.
The transaction, which closed on the 14 July 2017, saw Investec Aviation Finance provide senior debt funding to the airline and resulted in several firsts for the companies involved – Air Côte d`Ivoire received their first new Airbus aircraft through their first transaction with Investec Aviation Finance.
Having completed aircraft financings in Nigeria, Kenya, Ethiopia and Namibia, the Ivory Coast deal bolsters Investec Aviation Finance’s African presence and reinforces its strategic continental coverage.
“We are really pleased to have structured a bespoke solution which met our client’s specific requirements within a very short time frame,” said David Minty, Investec Aviation Finance Head commenting on the deal.
The funding structure, which would usually take up to four months, was successfully implemented within a month.
Investec Aviation Finance team has developed a close relationship with the management of Air Côte d`Ivoire over the past 3 years and this deal cements the relationship.
Air Côte d`Ivoire, as the Ivory Coast’s national carrier, flies locally within the Ivory Coast and to 19 regional destinations in West and Central Africa with its fleet of ten aircraft.
“We have been impressed by managements’ track record and their ability to implement the airlines well-defined business plan. As an African bank funding an African airline, we are proud to be part of the airline’s continued growth and progress,” adds Minty.
“Investec acted with promptness, efficiency, competence and as a real partner throughout the negotiation of the transaction, allowing us to take our first brand new Airbus A-320 right on time, despite the tight time frame,” said General Abdoulaye Coulibaly, Air Côte d`Ivoire Chairman.
“Relationships are at the core of the offering. We pride ourselves on being flexible and leveraging our global expertise with local African experience. We believe this leads to a world class offering to our clients,” concludes Minty.