Finance

Natixis CIB provides A330neo financing to Condor

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Natixis CIB provides A330neo financing to Condor

Natixis Corporate & Investment Banking (Natixis CIB) has supported Condor with the financing of a brand new A330neo aircraft, which was delivered in January 2024.

The German leisure carrier currently operates a fleet of over 50 aircraft (flying from the eight largest airports in Germany) and was the German launch customer for the A330neo. It expects to replace all of its long-haul fleet with the type by mid-2024.

The transaction was structured as a French Optimised Lease (FOL), combined with a loan backed by Itasca insurance. Natixis CIB acted as lead arranger and agent on the lease, while Natixis CIB and Norddeutsche Landesbank Girozentrale (NordLB) acted as mandated lead arranger and lenders on the loan. Itasca MGA acted as insurer agent.

“We are extremely grateful to have teamed with NordLB and Itasca to provide such an innovative and cost-efficient financing solution to Condor in a timely manner,” commented Alain Rosseau, head of aviation finance EMEA at Natixis CIB. “This is a great milestone for our aviation franchise, being our first transaction with both Condor and Itasca, and we look forward to further expand our relationship with them”.