Investec closed its first transaction with regional airline based in the British Overseas Territory of the Turks and Caicos Islands, interCaribbean Airways. The transaction financed the acquisition of eight E170 aircraft and refinanced five ATR aircraft currently owned by the airline.
The addition of the E170 aircraft will enable the airline to expand its current offerings and introduce new routes and destinations.
“The bank's expertise in providing tailored lending solutions made it the ideal choice for interCaribbean as we seek to enhance our fleet and expand our operations,” said interCaribbean chairman Lyndon Gardiner.
“As our first customer in the Caribbean, we look forward to building a long-lasting partnership with interCaribbean as it looks to grow its fleet and routes,” said Investec aviation finance consultant John Shaw.
The transaction represents a “significant milestone” in Investec's regional aircraft financing strategy.