The A330-200F freighters are the affiliate of the HNA Group, which is the parent company for Hainan Airlines, while the remaining Airbus aircraft are intended for South African Airways.
The freighters should be delivered to the HNA Group later this year and South African Airways expects their Airbus aircraft to be delivered in 2011.
This series of debt financing support for the seven new aircraft was approved the European Export Credit Agencies.
In addition, Aircastle was also able to receive a commitment from Sumitomo Mitsui Bank for an initial part of the needed debt.
The commitment from Sumitomo Mitsui Bank, which is headquartered in Japan, was for an amount up to USD $250 million.
This series of debt is also ECA-supported and is for the first three Airbus A330-200 passenger aircraft.
Aircastle's aircraft portfolio currently consists of 129 aircraft and has 59 client lessees.
Aircastle's customer airlines are located in 33 countries, including US based carriers Southwest Airlines and US Airways, and Canadian airline Air Canada.
The company manages the global operations of it's lease and sale business through three offices, one located in the United States, another in Ireland, and a third servicing Asia in Singapore.
Recent leasing activities include the purchase of a Boeing 737-800 aircraft, which the company leased to the Travel Service Airline, which operates out of the Czech Republic.
In a statement released by Aircastle, Aircastle CEO Ron Wainshal states, "These ECA approvals to support up to $530 million in debt financing put our Airbus A330 acquisition program on an excellent financial footing.
" Wainshal continues, "We appreciate the confidence shown by the European Export Credit Agencies, including our lead agency, COFACE of France.
We are also very pleased to have secured a $250 million commitment from SMBC for our largest A330 placement, with South African Airways.
We're looking forward to awarding a mandate to provide term financing for the balance of our SAA and Hainan Group deliveries soon and working with the ECAs to support the financing efforts on our remaining three A330 aircraft delivering in the second half of 2011 and the first half of 2012.
" Aircastle trades on the US NYSE under the symbol 'AYR'.