Guaranteed Financing Deal of the Year: Skywest Airlines $80m AFIC-supported financing for four E175s

摘要

Aircraft Finance Insurance Consortium (AFIC) closed its first non-Boeing transactions in late December with four Embraer E175 aircraft. The transaction, covering four deliveries for Skywest, was underwritten by AXIS Insurance and Sompo International. Brazilian Development Bank (BNDES) was the lender. In the January-February issue of Airfinance Journal, AFIC managing director, Robert Morin, said the firm extended its offering to Embraer aircraft last year and recently closed the first AFIC-supported Embraer transaction. "We are willing to support the financing of new or almost-new Embraer E1 and E2 aircraft," he said. The transaction closed on 23 December 2020 when Skywest took delivery of the four new aircraft in one day. Agencia Especial de Financiamento Industrial (FINAME), an affiliate of BNDES, acted as the lender and provided a 12-year secured loan facility, covered by AFIC's aircraft nonpayment insurance (ANPI) policy issued by AXIS Specialty Europe, London Branch, and Endurance Worldwide Insurance Limited.