MDT is acting as exclusive financial adviser and arranger to Virgin Atlantic Airways (VAA) in the financing of its B787-9 fleet. MDT was appointed by VAA in 2013 to run an extensive tender and evaluation process, with the aim of achieving certain key objectives set by the airline, which included taking a larger equity stake in its fleet. After receiving a very strong response from a large number of interested parties, covering a range of financing options and structures, extensive negotiations were entered into with a few key lessors and financiers to ensure that all targets were achieved. This has resulted in a mixture of operating and finance leases with a number of parties.

Following this process, eleven aircraft have now been placed with two major lessor groups. Of the remaining fleet, two further aircraft are currently in documentation on alternative lease structures, while financing options for the remaining aircraft are still to be considered.

The first two VAA B787-9 aircraft are due for delivery in Q4 2014, with the remaining aircraft due for delivery over the period 2015-2018.