UAE: Dubai-based Novus Aviation commits for four Boeing 777-300ERs

Aircraft lessor Novus Aviation Capital and Boeing agreed Thursday on the purchase of four Boeing 777-300ERs by the Dubai-based company, in a deal estimated at $1.4 billion at list prices.

The commitment was sealed at Farnborough International Airshow, taking place in England.

“We are delighted to complete a new milestone in our investment strategy and our cooperation with Boeing,” said Hani Kuzbari, managing director at Novus Aviation Capital.

“This is in line with our continuous pursuit to create value within our aircraft portfolio. We have successfully invested in the Boeing 777 over the last decade with proven return on our investment. The aircraft type remains a strong long-haul wide body aircraft for our airline customers globally.”

The deal is first direct purchase agreement of the aircraft leasing financing platform with US manufacturer Boeing.

Novus Aviation Capital operates four different offices around the world, namely Hong Kong, London, Geneva and Beirut.

The company currently has under its management around 50 aircraft of a value of nearly 4 billion.

Boeing 777-300ERS is capable of flying a maximum range of 7,930 nautical miles and can seat 386 passengers in a three-class configuration.

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