Iberia and Banco Santander reach an agreement to finance an Airbus A340-600
Tuesday 30, March 2010
Iberia has reached an agreement with Banco Santander to structure the financing operation of an Airbus A340-600 which has recently become part of the airline’s fleet under operating lease.
The transaction is valued at $120m and the leasing period has been set at 12 years.
A club deal of banks made up of Banco Santander itself, Banco Popular, La Caixa, Instituto de Crédito Oficial, Crédit Agricole Corporate and Investment Bank and Banco de Sabadell, all as MLAs (Mandated Lead Arrangers) has financed the acquisition of the new aircraft.
Iberia has a fleet of 18 A340-300 and 13 A340-600 for its long-haul routes to the Americas and South Africa.
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