Investec Announces Its Partnership With WNG Capital In Air Freight Transaction
Investec Announces Its Partnership With WNG Capital In Air Freight Transaction. Investec has announced that it has partnered with WNG Capital in order to finance a Boeing 757-200F on lease to Icelandair.
“We are delighted to conclude our first transaction with WNG. Investec continue to be active in the financing of mid-life and end-life passenger and freighter aircraft which aligns with the WNG strategy. We see opportunity to partner together with WNG supporting their future growth. The cargo market remains robust. We have seen how the air freight traffic segment held up through the pandemic, benefitting from the shift to e-commerce and the need to move critical products, such as PPE and vaccines around the world. Freighter aircraft are not as susceptible to border closures or other Covid restrictions as other sectors, such as business travel and tourism.” Bradley Gordon, Head of Aviation Finance – Africa at Investec said in a statement.
Investec Bank Ltd. (“Investec”) partners with private, institutional, and corporate clients, offering international banking, investment, and wealth management services in two principal markets, South Africa and the UK, as well as certain other countries. The group was established in 1974 and currently has approximately 8,200+ employees. Investec has a dual listed company structure with listings on the London and Johannesburg Stock Exchanges.
WNG Capital LLC (“WNG”) is a leading aircraft investment manager dedicated to investing in mid-life and older narrow-body commercial aircraft and engines. Since its establishment in 2009, WNG has leased more than 70 aircraft and 15 engines to 40 airlines in 28 countries. WNG’s investors include state, municipal, and corporate pension funds, university endowments, financial institutions, and family offices.
