AirFinance hires Viren Joshi
AirFinance has appointed Viren Joshi to help expand the firm’s working capital, supply chain and infrastructure financing capabilities.
Joshi, described as “a seasoned expert” and project finance executive, said his new role offered a unique opportunity.
“I am delighted to be joining AirFinanceand look forward to working with such a high-calibre team. This is a unique opportunity to leverage my relationships, ideas and experience and I look forward to helping expand AirFinance’s working capital, supply chain and infrastructure financing business,” he said.
Joshi has more than 25 years of industry experience at Export Development Canada (EDC). Most recently, he was global accounts director for EDC’s aviation sector where he managed companies such as Airbus, Bombardier, Bell Helicopter, and Pratt & Whitney. Prior to this position, Joshi was a member of the adjudication team at EDC reviewing credit decisions across all sectors.
Kirsten Bartok, managing partner, AirFinance, said, “Viren is recognised across the industry for his exceptional track record and robust network of professional relationships around the globe. Bringing Viren into our organisation exemplifies our ongoing commitment to hiring the best-in-class talent to think creatively and serve our clients in their financing needs.”
Thomas Low, managing partner, said: “We are excited to welcome Viren to the team. I started working closely with Viren in 2008 when he headed up the process to set up a $250m unique EDC facility for Textron. Since that time, Viren has worked with AirFinance on many large projects to help develop creative and instrumental aircraft financing programmes. He has been very impressive in his structuring knowledge that protects the lender while also fitting the customers needs. Viren has an ability to deliver a quick yes or no and when the answer is yes, leads those deals over any hurdles to the finish line.”
As an US Export Import Bank (EXIM) Working Capital Delegated Authority Lender, AirFinance has provided export credit agency (ECA) backed working capital and inventory loans in the past, most recently to Embraer Executive Aircraft with a $97m revolving loan facility.
According to AirFinance, its ECA business has accelerated during the pandemic, as EXIM and other ECAs have responded to Covid-19 and its impact to manufacturers and their supply chains by expanding the scope to make them more accessible. The drop in revenues resulting from Covid-19 restrictions has caused significant liquidity issues for many US companies.
