Aircalin inks financing deal for first A350-900

By Andrew Curran.

New Caledonia’s Aircalin has secured financing for its first A350-900, which is due for delivery later this year.

Yesterday, July 9, the state-owned carrier confirmed it had signed a financing agreement with a banking consortium led by Groupe BPCE – Natixis Corporate and Investment Banking, plus British Columbia Investment Management Corporation, La Banque de Nouvelle-Calédonie, BRED Banque Populaire and CIC.

In late 2024, Aircalin announced an order for two A350-900s. The airline said it would use the aircraft to modernise its fleet and support long-haul network expansion.

“They will open the doors to very long-haul flights and enable Aircalin to pursue its development strategy,” Aircalin CEO Georges Selefen said at the time.

“Through a structure combining a bank loan, Aircalin's own equity and French State support via the overseas tax incentive scheme, this aircraft is being financed without any recourse to New Caledonia's public funds,” yesterday’s Aircalin statement reads.

“This transaction reflects the confidence our banking and institutional partners place in Aircalin's strategy and financial strength, paving the way for the modernisation of our long-haul fleet.”

Aircalin operates international services only. It flies from Nouméa to Port Vila (VLI), Nadi (NAN), Wallis (WLS), Papeete (PPT), Auckland (AKL), Sydney (SYD), Brisbane (BNE), Singapore (SIN), Bangkok (BKK) and Paris (CDG).

The airline’s current fleet comprises two A320-200s and two A330-900s.

However, in recent months Aircalin has been plagued by reliability issues, forcing it to cancel and reschedule flights and bring in wet-leased aircraft from other airlines to maintain its schedule.

Aircalin has also experienced significant financial challenges in recent years, requiring it to turn to its government shareholder for support. However, its Paris flights, only started in 2024, have proved financially successful.

Aircalin says its first A350-900 is due for delivery in December. The aircraft is capable of flying up to 15,000 kilometres nonstop while consuming around 15% less fuel than comparably sized aircraft.

This week, Aircalin has also announced a corporate rebranding, including tweaks to its aircraft livery and logos. The incoming A350-900 will be the first aircraft dressed in the new look.

Photo: Airbus.

Contact the writer: andrew@aerosouthpacific.com