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Abu Dhabi, UAEWednesday 22 August 2018

Dubai aircraft lessor Novus signs deal for four Boeing 777s

Agreement to take extended range jets announced at Farnborough International Airshow for a list-price value of $1.44 billion

Novus Aviation Capital will take four Boeing 777-300ERs. Bloomberg
Novus Aviation Capital will take four Boeing 777-300ERs. Bloomberg

Boeing and Dubai-based aircraft lessor, Novus Aviation Capital, signed its first direct agreement with Boeing for up to four 777-300ERs (Extended Range) at the 2018 Farnborough International Airshow for a list-price value of $1.44 billion.

With 24 years of aircraft leasing, financing and trading experience, Novus is one of the world's fastest-growing aircraft leasing financing platforms. 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.

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"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."

Ihssane Mounir, senior vice president of commercial sales and marketing for Boeing, said the Boeing 777 deal 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 14,685km. The aircraft is the most reliable twin aisle flying today with the highest schedule reliability of any twin aisle plane at 99.5 per cent.

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