Singapore-based aircraft lessor Avation has obtained a new warehouse facility to support opportunistic aircraft acquisitions. The full recourse, senior secured, revolving warehouse facility has been provided by an undisclosed European bank.
According to Avation, the lessor can withdraw up to $20 million at any one time to support 75% of the agreed value of the aircraft purchased. The warehouse facility is available to Avation for the next three years.; Drawings used to acquire aircraft have a two year repayment term;
Update: In 2020 the lease term was extended by one year.
