The deal is split between six facilities of $150m each, rather than as a single large deal, to limit the margins and tenor of the debt, according to bankers who have worked on the deals. Each facility has been structured with a six-year tenor.

The aircraft are being purchased through Prime Aviation, a UK-based aircraft marketing and financial advisory firm.

The banks involved include Calyon, which worked with Natixis on the structuring of two of the deals.

ING Bank, Arab Bank and European Arab Bank are financing another of the planes, taking $50m of debt each.

Sumitomo Mitsui Banking Corporation, Standard Chartered Bank, BNP Paribas and Deutsche Bank are financing the other three planes.