Transport

GE Capital Aviation Services lends $280m to Aerolíneas Argentinas

Senior debt will be secured on seven aircraft

The $280m loan will be secured against three Boeing and four Airbus aircraft. Photograph: iStock
The $280m loan will be secured against three Boeing and four Airbus aircraft. Photograph: iStock
Thu Aug 04 2016 - 17:41

Aircraft financier GE Capital Aviation Services is loaning $280 million (€251m) to Aerolíneas Argentinas, the Irish company confirmed.

GE is providing the cash for 10½ years, and it will ranked as senior debt, secured against three of the airline's Boeing 737-800s and four of its Airbus A330s.

The airline will pay for the Airbus craft this year and for the Boeings in 2017, according to a statement.

Aerolíneas Argentinas is a leading South American carrier based in Buenos Aires, Argentina. It serves 60 domestic and international destinations.

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Shannon, Co Clare-based GE Capital owns or services a fleet of more than 1.950 aircraft, and has loaned money to airlines secured on a further 400 aircraft. It has 270 customers in 75 countries.