Investec’s aviation finance arm has provided $15m (€14.9m) financing to Alafco Aviation Lease and Finance Company.

Investec said it has provided the senior debt financing against an aircraft being operated by a low-cost carrier in Southeast Asia that is currently undergoing restructuring.

Established in 1992, Alafco began as an aircraft leasing arm of Kuwait Airways, before being acquired by Kuwait Finance House in 1999. It was listed on Boursa Kuwait in 2006 and currently operating out of both Kuwait and Dublin.

Derek Wong, the head of Investec aviation debt funds, said: “This facility demonstrates our team’s commitment to finding solutions for lessors in complicated situations – in this case, when leases are subject to restructuring.

“Such situations underline the importance of flexibility and creativity in solving clients’ unique challenges.”

Investec currently manages over $1bn of aviation assets, including third-party debt and equity funds, consisting of over 100 aircraft.

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