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Novus to focus on widebody acquisitions

14 October 2011

The Geneva-based leasing company will focus on sale/leasebacks for widebody aircraft during the next year.

Tags: Novus  |  Mamoun Kuzbari  |  767-300ERs  |  Geneva  |  Beirut

When the European Aviation Safety Agency (EASA) banned Air Madagascar from flying to Europe in August, Novus Aviation knew it had a situation on its hands. The lessor asked the airline to return the aircraft and sold it to Pacific Airfinance with a lease attached to Thailand's Business Air.

"We moved on all fronts," Mamoun Kuzbari, vice president, Novus. "We serviced the aircraft, started remarketing it, we sold it to another lessor and successfully negotiated with an airline to lease it —all in two months. I think that's quite an achievement."

Already in 2011, the lessor has closed five multi-asset transactions, including extending leases for Condor Flugdienst on two 767-300ERs and selling one 767-300ER to Pacific Airfinance.

Since launching in 1994, the Geneva-based lessor has grown gradually through trades and sale/leasebacks. While NOVUS does not have a minimum age requirement for acquired aircraft, most of its purchases have tended to...

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