Tamweel Aviation Finance, the partnership fund of the Dubai-based Novus Aviation Capital, Airbus, Development Bank of Japan and Nord/LB, has closed its transaction with Virgin America covering three new A320 aircraft due for delivery in the first half of 2016.

Mounir Kuzbari, managing director of Novus Aviation Capital, said: “We are particularly pleased to have secured this financing with Virgin America as it clearly demonstrates the broad appeal of the Tamweel finance lease product, which has now been utilised by first-tier airlines on the widest range of Airbus aircraft from the A320 family to the A380”.

Anthony Mosse, vice president of Finance and Treasurer at Virgin America, said: “We are excited by this new partnership with Tamweel, which is an important part of the financing commitments obtained by Virgin America for our 10 new A320 aircraft that are being delivered between mid-2015 and mid-2016.” - TradeArabia News Service