PRESS REVIEWS    10-01-2008

SIA goes German for A380s
Jane's Transport Finance about Doric Aviation

Singapore Airlines has secured financing in the German KG market for three of its A380 aircraft underscoring the huge demand that investors in the country are showing for new aircraft operated by top-notch airline credits.

Doric Asset Finance and NordLB have teamed up once again to finance the Singapore Airlines wide body jumbo jets.

Doric Asset Finance is sourcing the equity from German KG investors and arranging the leases on the aircraft.

NordLB said it has provided the debt and the equity bridge financing, resulting in a 100% financing at day one, and a working capital line for the first of the Singapore Airlines A380s.

The bank said it will also provide this package for the second and third A380 aircraft with long-term leases to the airline.

Doric Asset Finance announced that in cooperation with Dr. Peters Group it completed the acquisition of the first A380 to be put into commercial passenger service on December 20 last year, which was placed on a long-term operating lease with Singapore Airlines.

Anthony O’Connor