Avinco wins Gulf Air mandate - Airfinance Journal - August 2009

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Avinco wins Gulf Air mandate

01 September 2009

Avinco has won a mandate from Gulf Air to remarket up to five A340-300s which are available for sale or lease

Read more: [Avinco] [Gulf Air] [A340-300]

Gulf Air has awarded a remarketing mandate to Avinco for up to five of its owned A340-300s. The aircraft, which...

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Poll

Does the 'Home Country Rule' give an unfair advantage to some airlines?

Yes

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Quote

We see it as a win-win for everyone. The creditors of Allco Finance Group get a sizeable proportion of their money back, probably more than they expected. The economic interests of the senior and other subordinated aircraft lenders are fully aligned with us especially as we are investing in junior positions and aircraft residuals. We are particularly motivated to manage the aircraft well as we will not see a return on our investment until senior and junior lenders are repaid in full. We have also said that we are prepared to pay lenders down once the deal has closed. ”

Bharat Bhise, CEO of Bravia Capital, can not understand why some Allco Aviation lenders are not supportive of HNAs bid.