A330 Aircraft – Novus Aviation
In 2014, IIB invested US$ 8.7 million for a 95% stake in the purchase and leaseback of A330-300 Aircraft (“Aircraft”) to Finnair Airlines (“Finnair”).
The Aircraft was on lease to Finnair on a non-cancellable lease of 12 years, expiring in July 2026. Novus Aviation Limited, a professional aviation firm engaged as the lease manager and the exclusive remarketing agent for this transaction. Novus also holds a 5% stake in the Aircraft.
IIB received regular income from the lease (net of debt servicing and costs), amounting to circa 9.7% per annum on its investment. IIB exited this investment in October 2018, generating circa 18% IRR.