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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.
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
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
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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