Global Knafaim Leasing has agreed to acquire a 2010-built Airbus A320-200 aircraft along with its existing lease to a Caribbean-based airline, in a transaction valued at approximately $20 million, including expenses.
The Israeli aircraft lessor estimates the net payment at closing will be around $16.5 million after accounting for approximately $3.5 million in adjustments related to maintenance reserves and a security deposit held by the seller.
To finance the acquisition, Global Knafaim plans to secure an $11 million full-recourse loan from an Israeli bank, with the remaining amount funded through its internal resources. The bank’s credit committee has approved the proposed financing, although a binding loan agreement has yet to be signed.
The aircraft’s existing lease runs through the second quarter of 2029 and is expected to generate approximately $4.5 million in rental income over the remaining term. Upon completion of the transaction, the Caribbean-based airline will become a new customer of Global Knafaim Leasing.
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Under the existing lease agreement, the airline is required to make monthly maintenance reserve payments and return the aircraft in accordance with specified maintenance conditions. As part of the acquisition, Global Knafaim will assume the seller’s obligations relating to these reserves and certain maintenance costs.
The transaction will transfer both the aircraft and its associated lease rights to Global Knafaim, providing the lessor with an income-generating asset backed by an existing lease. The arrangement also brings maintenance-related financial obligations into the lessor’s portfolio, making the management of reserves and future maintenance costs an important part of the investment.
The parties are targeting completion by the end of November 2026, subject to customary closing conditions, including the transfer of the aircraft and lease rights and the absence of material adverse changes.
The seller, the airline lessee, and the aircraft’s serial number have not been disclosed.
