On April 17^th, 2020, Finacity Corporation (“Finacity”) was engaged by American Airlines, Inc. (“American Airlines”) to organize and structure a receivables securitization facility for the different business units of American Airlines and its respective receivables portfolios. Finacity proceeded to complete a Request For Proposal process on behalf of American Airlines and successfully arranged a funding solution with BNP Paribas on September 9^th, 2020, during the height of the COVID-19 pandemic in which the airline industry was undergoing significant stress – ultimately closing the transaction on December 24^th, 2020, and completing the initial program funding in early January 2021. The transaction focuses on American Airline’s cargo receivables portfolio, including multiple countries and currencies and has been designated as the winner of the Airfinance Journal “Innovative Deal of the Year” award in 2021, and the Airline Economics “Freighter Finance Deal of the Year” award in 2022.

An excerpt from the publication below by Aviation News Limited (Airline Economics) describes the market environment and transaction complexity in additional detail:

Airline Economics – Issue 66

Airline Economics Magazine Awards Link

AirFinance Journal Magazine Awards Link