PK AirFinance Arranges Secured Loans on Embraer E170 Aircraft with Republic Airways Holdings
NORWALK, Conn. PK AirFinance, a GECAS Company, has announed in a press statement that it closed two separate senior debt facilities with Republic Airways Holdings Inc. (NASDAQ/NM: RJET).
PK AirFinance arranged $81 million in secured debt financing for Embraer 170LR aircraft in Republic’s fleet, holding the $66 million senior loan and a junior lender holding the $15 million tranche on the five-and-a-half year package.
Separately in late 2014, PK AirFinance closed a five-year, $30 million senior loan on Embraer 170LR aircraft in Republic’s fleet to refinance existing loans.
Based in Indianapolis, Indiana, Republic Airways operates about 240 aircraft and offers scheduled passenger service to about 100 cities in the U.S., Canada and the Caribbean through fixed-fee flights as American Eagle, US Airways Express, United Express and Delta Connection.