Bravia Capital Partners forms joint venture with infrastructure leasing and financial services (IL&FS), Mumbai
To Provide Needed Financing Solutions for Burgeoning Indian Airline Market
NEW YORK — Bravia Capital Partners, (BCP) a global commercial aircraft finance, investment and leasing company, and Infrastructure Leasing and Financial Services (IL&FS) of India, a leading Indian Investment Bank that specializes in asset-based financing, structured finance, infrastructure development and a wide range of financial services including project finance, today announce the establishment of a joint venture to serve the aircraft fleet requirements of the rapidly growing Indian airline market. At the current juncture, IL&FS has an asset footing of USD 1.75 bn, and a pipeline of projects under development in excess of USD 20 bn.
The venture will invest in commercial aircraft to be leased to or financed for airlines in India . It will have the ability to react quickly to provide both bridge finance, as well as long-term leases. Newly formed airlines with well-defined business plans, as well as India ‘s legacy carriers, will benefit from the formidable financing knowledge, experience and capability of the BCP/IL&FS venture.
Under the venture, Bravia Capital and IL&FS shall work together to source and market appropriate aircraft; develop traditional, structured and innovative short-term structures; arrange debt financing while investing their own equity risk capital. In addition, Bravia shall provide technical support for each aircraft transaction, which includes cargo conversion and maintenance management facilities.
“Few markets in the world are as vibrant as the Indian aviation marketplace. There’s an infrastructure explosion taking place. Our knowledge of the aviation business and their expertise in local infrastructure development make our joint venture with IL&FS the perfect combination of strengths going forward. While this important venture is mutually beneficial, more importantly, it will benefit India and its future prosperity” affirms Bharat Bhisé, CEO, Bravia Capital Partners.
Bravia and IL&FS will jointly market the venture to airline operators and other aviation projects; develop local financial structures to support transactions; arrange, source and participate in syndication of senior debt, mezzanine debt and equity financing, as appropriate.
“The current boom in aviation and aviation related infrastructure in India calls for innovative financial solutions. Our alliance with Bravia will enable us to build localized solutions for the sector and attract domestic banks and financial institutions to the sector on the back of sound technical, risk management and financial structures. This is imperative, given the nascent stage of development of the Indian aviation sector” indicates Milind Patel, COO- Financial Services, IL&FS.
As one of India ‘s leading infrastructure development and finance companies, IL&FS has taken on a mandate to develop the infrastructure of India and provide innovative financial services. For the past eighteen years, IL&FS’s vision and management expertise has led to the completion of critical projects in such sectors as transportation, power, ports, urban infrastructure, cluster and area development, as well as for the environment, education and tourism. On the financial services business, IL&FS has been at the forefront in developing innovative financial solutions for infrastructure projects, aircraft & ship finance and acquisition finance. For more information, visit www.ilfsindia.com.
ABOUT BRAVIA CAPITAL
Bravia Capital Partners is a global finance leasing company that specializes in addressing the aircraft fleet requirements in the aviation marketplaces of India, China and Eastern Europe. The company specializes in finance leasing, bridge financing for aircraft acquisition, maintenance upgrades and infrastructure development. With headquarters in New York, Bravia also has offices in San Francisco, London and New Delhi. For more information, visit braviacapital.com.