28 Jan 2025
Investec closes its first transaction with interCaribbean Airways
Investec closes its first transaction with interCaribbean Airways to finance the acquisition of eight Embraer E170 aircraft and refinance five ATR aircraft
Investec is pleased to announce the successful closure of its first transaction with interCaribbean Airways, a regional airline based in the British Overseas Territory of the Turks and Caicos Islands. This transaction financed the acquisition of eight Embraer E170 aircraft and refinanced five ATR aircraft currently owned by the airline.
interCaribbean Airways has established itself as a key player in the Caribbean aviation market, offering scheduled passenger flights and charter services to 27 destinations across 18 countries and territories. With hubs in the Turks and Caicos Islands, Jamaica, the British Virgin Islands, Barbados, and the Dominican Republic, interCaribbean is playing a key role in enhancing regional connectivity and providing reliable air travel options throughout the Caribbean. The addition of the Embraer E170 aircraft will enable the airline to expand its current offerings and introduce new routes and destinations.
This transaction represents a significant milestone in Investec’s regional aircraft financing strategy, which is part of the broader Investec Aviation offering. Regional aircraft, typically accommodating 100 seats or fewer, are crucial for supporting interconnectivity and route growth, delivering efficient service and frequency that larger commercial aircraft cannot provide.
interCaribbean Airways was founded by Chairman, Lyndon Gardiner, who started the airline with a single aircraft and a dream to connect the Caribbean. Under his leadership, interCaribbean has grown into a respected regional airline, known for its commitment to customer service and operational excellence.
“We approached Investec because of its flexibility, service ethic and extensive experience with regional aircraft,” says Lyndon Gardiner, Chairman of interCaribbean. “The bank's expertise in providing tailored lending solutions made it the ideal choice for interCaribbean as we seek to enhance our fleet and expand our operations.”
“We are delighted to welcome interCaribbean as a new client, in line with our strategy of lending to high-quality regional airlines,” says John Shaw, Aviation Finance Consultant at Investec. “As our first customer in the Caribbean, we look forward to building a long-lasting partnership with interCaribbean as it looks to grow its fleet and routes.”
Read more about this transaction here.