Air Canada secures £170m loan facility
Air Canada has received a commitment from GE Japan Corporation for a senior secured term loan facility in the amount of up to $170.5m to finance a portion of the purchase price for 16 aircraft currently leased and operated by Air Canada.
Completion of the financing is subject to customary terms and conditions.
This loan facility will be available to finance up to $128.5m of the amount required to purchase eight A319s and four 767-300ERs in 2011, with terms of seven and four years respectively. The loan facility will also be available to finance up to $42m of the amount required to purchase four A319s in 2012, with a term of five years.
