Virgin Atlantic closes structured financing for one A350-1000

Virgin Atlantic has closed the financing of its final A350-1000 aircraft delivered in May 2024. The transaction, arranged by Natixis Corporate & Investment Banking (Natixis CIB), was structured as a French optimized lease combined with a loan backed by Itasca insurance and junior financing. Natixis CIB acted as a lease arranger and agent on the lease, and as mandated lead arrangers and lender on the senior loan, alongside La Banque Postale and MUFG as mandated lead arrangers and lenders on the senior loan, and Itasca MGA was insurer agent on the senior loan. The junior loan was provided by Tamweel Aviation Finance and arranged by Novus Aviation Capital. “Congratulations to all parties involved in this transaction. This is a cost-efficient structure combining various sources of financing.” Said Jean Chedeville, global head of aviation finance at Natixis CIB. “We are very happy to support Virgin Atlantic with such a tailor-made solution and we look forward to further expand our relationship with them going forward.” Virgin Atlantic is the second largest full-service carrier in the United Kingdom after British Airways, operating a fleet of 43 widebody aircraft out of its Heathrow hub to 33 destinations across the Atlantic. “Virgin Atlantic has been committed to innovation and collaborating with the best partners since June 1984, as demonstrated by this latest partnership with Itasca MGA, MUFG, Natixis, La Banque Postale and Novus Aviation Capital.” Said Ansar Hussain, VP of corporate finance at Virgin Atlantic. “The Airbus A350 plays a significant role in our fleet transformation, enabling us to fly one of the youngest, cleanest fleets which is now fully financed through to Q4’25.”