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Banking on it
01 March 2007
Aircraft demand for the next 20 years can count on support from the industry's leading banks. Natasha Yazdabadi reports on banking excellence in 2006 and reveals how these firms are best placed to meet airlines' ambitious expansion plans.
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banks
ABN Amro
Based on assets worth Eu999 billion ($1,322 billion), Dutch bank ABN Amro is well known for its unique funding vehicle, Sovrisc. The bank won a $1.3 billion Ex-Im mandate from Air India in September 2006. It was one of the largest airline deals awarded to a single bank, beating strong bids from Barclays, Citigroup and ING. The facility financed 19 777s, eight 787s, spare engines and 18 737s for Air India Charter. The deal was distinctive because ABN Amro facilitated a syndicated loan for the predelivery payment of the aircraft.
The second most significant deal was for Pakistan International Airlines. ABN Amro was the sole arranger of the financing of three 777s through a commercial loan structure. A spokesman for the bank says: "This is a major deal in a market that is becoming increasingly important to us."
ABN Amro has also been mandated by airlines...
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