RFP Process Identifies Two To Finance New A330s

Air Pacific, Fiji's national carrier soon to be flying as 'Fiji Airways' says that following the conclusion of a highly competitive bidding process, it has selected two major international aviation banks for European export credit financing for its three new A330-200 aircraft. The two banks are German-based KfW IPEX-Bank and Helaba. 

The selection was the result of a highly competitive RFP process overseen by aviation financial advisory consultant SkyWorks Capital, LLC.  SkyWorks Capital issued the Air Pacific RFP in late 2012 to a number of major international aviation banks, and thereafter received seven firm proposals involving 11 separate banks, including five of the top global Export Credit banking groups.

"We are extremely pleased with the international financial community's desire to invest in Fiji's national airline, and on behalf of the nation we are proud to represent, we would like to thank everyone who participated," said Dave Pflieger, Managing Director and CEO of Air Pacific.

"This strong response from well-known and highly experienced global financial institutions is a solid endorsement of Fiji's national carrier, gained through the proven success of its turnaround plan, the strength of its management team, and the stability and strength of Fiji and its economy," said Ian McBain, managing director of SkyWorks Capital, who oversaw the RFP process on behalf of Air Pacific.

The move to finalize financing of its new aircraft follows the successful completion of purchase agreements in late 2012 with Airbus and Rolls-Royce for the purchase of three new Rolls-Royce powered, A330-200 Heavy Gross weight aircraft. Designated to replace Air Pacific's current Boeing 747 fleet, the first aircraft delivery will be in March, 2013, with the second and third aircraft delivering in May and November, 2013 respectively. The A330-200s are the first brand new wide-body aircraft ever purchased by the 60 year old national airline, and they are valued in the Airbus catalogue at a price of $600 million.

FMI: www.fijiairways.com