Dubai's Novus inks $1.4bn deal for Boeing 777 aircraft

Novus Aviation Capital announces agreement for four Boeing planes at the Farnborough International Airshow
Dubai's Novus inks $1.4bn deal for Boeing 777 aircraft
By Sam Bridge
Fri 20 Jul 2018 09:54 AM

Boeing and Dubai-based aircraft lessor, Novus Aviation Capital, have announced their first direct agreement for up to four 777-300ERs at the 2018 Farnborough International Airshow.

The commitment carries a list-price value of $1.44 billion, a statement said.

"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."

Dubai-based Novus is one of the world's fastest-growing aircraft leasing financing platforms in the world.
Operating globally out of five offices in Europe, Asia and the Middle East, the company has an aircraft portfolio under the management of around 50 aircraft worth nearly $4 billion.

"It is an honour to have Novus join the Boeing family with this commitment," said Ihssane Mounir, senior vice president of commercial sales and marketing, The Boeing Company. "The selection of the Boeing 777 will enable Novus to offer exceptional value to their customers around the world."

The 777-300ER can seat up to 386 passengers in a three-class configuration and has a maximum range of 7,930 nautical miles (14,685km).

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