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Emirates s/l with Novus for 777

21 January 2011

Dubai carrier Emirates has closed a sale/leaseback with Novus Aviation.

Tags: Emirates  |  Novus Aviation  |  Boeing 777-200ER  |  DVB Bank  |  Islamic finance  |  Hani Kuzbari

Emirates completed a sale/leaseback for one 777-200ER with Novus Aviation in January. This is the third deal between the two companies.

The acquisition was made through a fund co-owned and managed by Novus. The structure is Sharia compliant with conventional debt from DVB Bank. The structure was first developed and applied by Novus almost 10 years ago.

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