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The deal allows the aircraft to be financed by the proceeds from the British Airways 2019-1 EETC certificates and JOLCO equity arranged by NBB and BBAM.
BBAM only manages and services aircraft and does not own any aircraft sold to Horizon.
When added to pre-existing shareholdings by Onex and the BBAM management team, these investors will hold a total of 5.5 m shares, or 17% of the company's proforma outstanding shares.
AirAsia Group CEO, Tony Fernandes, said, "The AirAsia Group is delighted to begin this new, long-term partnership with Steve and the rest of the team at BBAM and FLY.
Bellini, managing partner of BBAM, and Joshua Caspi and Andrew Caspi of Caspi Development, led the $24.4 million purchase.
The deal follows agreements with BBAM and GE Capital Aviation Services to finance nine aircraft, and brings the total value of deals in the past five weeks to $1 billion
And the airline recently announced aircraft financing worth more than $750m in deals with GECAS (General Electric Capital Aviation Services) and BBAM.
flydubai, Dubai's first low cost airline, has announced aircraft financing worth more than $750 million in deals with GECAS (General Electric Capital Aviation Services) and BBAM.
Babcock & Brown Aircraft Management (BBAM) manages the worldCOs fourth largest commercial jet fleet by value.
The Intrepid-Amedeo structure is similar to that of Fly Leasing Limited, whose portfolio is managed and serviced by BBAM Limited Partnership, whereby the majority of Intrepid's earnings will be generated from operating lease revenue, offset by management/servicing fees paid to Amedeo.
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- BBA LIBOR
- BBASE jumping/b
- BBASE jumping/b