Nord/LB helps Jackson Square Aviation with A319 Sale/Leaseback to Avianca
Jackson Square Aviation announced the delivery of one Airbus A319-115 to Avianca, a deal completed with the help of German bank Nord/LB.
The transaction represents a continuation of Jackson Square's long relationship with Avianca and the second sale/leaseback transaction of its new fleet, which is being built in partnership with Oaktree Capital. Norddeutsche Landesbank Girozentrale ("NordLB") provided Jackson Square with long-term debt financing on this aircraft and has also provided financing on an A320 which Jackson Square purchased at delivery and leased to Avianca in February 2010.
Oliver Gruenke, NordLB's Deputy Head of Global Aircraft Finance, commented that NordLB is delighted to add Jackson Square and Avianca to its client list. "Our bank has been among the most active aviation lenders in this environment, and business with companies like these fit our growth agenda perfectly. It is our full intention to finance Jackson Square on many future transactions as well, as they lease to the world's major airlines."
Jackson Square is a full-service aircraft leasing company based in San Francisco with offices in Seattle, Miami, and Buenos Aires, with European and Asian offices opening in 2010. Jackson Square is equity funded with a US$500 million commitment from its management team and Oaktree Capital Management, L.P.