New York, NY (March 26, 2024) – Mitsubishi UFJ Financial Group (MUFG) is pleased to announce the closing of the first aircraft non-payment insurance covered facility for Azorra.

MUFG acted as structuring agent, working in close collaboration with Itasca MGA, which served as insurer agent. This transaction financed Azorra’s acquisition of two Airbus A330-330s operated by Turkish Airlines from Voyager Aviation Holdings and supports the client’s overall fleet growth strategy, and is the lessor’s first insurance covered financing.

Claudia Ziemer, SVP Finance of Azorra, said: “To have closed Azorra’s first insurance covered financing is truly exciting for the team, and would not have been possible without the support of our partner MUFG and the commitment of Itasca MGA. We are grateful for their collaboration as we continue our fleet growth trajectory.”

Olivier Trauchessec, Head of Global Aviation at MUFG, said: “We are proud to have collaborated with Azorra on their first aircraft non-payment insurance covered facility. Being able to partner with our clients to develop innovative financing structures that meet their business needs is one of the tenets of MUFG’s Aviation Finance business.” 

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