Irish lease-management company Pembroke Capital, of Dublin, has ordered 12 Boeing 737s valued at $504 million.
The company, which was formed in November 1993 by ex-GPA employees, will take delivery of four 737-300s and eight -800s between June 1998 and April 1999. Pre-delivery financing for the order will be provided by Nisho Iwai/Sumitomo and International Investments & Underwriting, which are providing $39.5 million and $37.5 million in credit, while Pembroke is putting up equity.
Pembroke is currently responsible for the management and re-marketing of 23 Boeing 737s. President Michael Dolan sees "a developing market in the ownership and management of aircraft on operating lease and as financial investments".
Source: Flight International
