09 Dec 2019

Irish Aircraft Leasing Newsletter 9 December

AerCap Holdings N.V. Announces Secondary Share Offering and Share Repurchase AerCap announced that Waha AC Coöperatief U.A. a wholly owned subsidiary of Waha Capital PJSC and Avia Holding Limited, a wholly owned subsidiary of Waha Capital ("Avia" and, together are offering 4,000,000 AerCap ordinary shares through an underwritten public offering. AerCap will not receive any proceeds from the sale of the ordinary shares offered. Bamboo to enter widebody club with GECAS 787-9s Vietnamese carrier Bamboo Airways is set to take its first Boeing 787-9 aircraft during December, which will make it Vietnam’s second widebody operator after Vietnam Airlines. GECAS subsequently confirmed that the two aircraft would be transferred to the carrier from an existing lessee reported Flightglobal 3 December. GECAS and Sculptor Capital Management Close STARR 2019-2 GECAS and Sculptor Capital Management announced the closing of STARR 2019-2. Under the terms of the transaction, GECAS is selling twenty in-production Boeing and Airbus narrowbodies to START III Ltd. The diversified portfolio has an average aircraft age of 8.4 years and includes aircraft currently on lease to 17 airlines in 14 countries, with a total appraised value of approximately $539 million. Jackson Square Aviation Announces Delivery of Two New Airbus A320NEO Aircraft to Frontier Airlines Jackson Square Aviation announced the deliveries of two new Airbus A320NEO aircrafts to Frontier Airlines. "We are delighted to support Frontier Airlines with the delivery of these new A320NEO aircrafts named 'Ruby the Reindeer' and 'Wylie the Coati'," said John Yanney, Senior Vice President, Marketing. He added, "We look forward to furthering our relationship with Frontier Airlines in the years to come." Robert Fanning, Director of Fleet Transactions, Frontier Airlines, said, "Working with one of our long-term partners, Jackson Square Aviation, to introduce additional LEAP-powered A320NEOs into our fleet has provided us the ability to support our growing fleet requirements with the latest technology and fuel efficiency with America's Greenest Airline". SMBC Aviation Capital closes US$1 billion loan facility with the Japan Bank for International Cooperation SMBC Aviation Capital announced that it has closed a US$1 billion loan facility with the Japan Bank for International Cooperation. The facility has a 10 year term and will be used to finance a proportion of SMBC Aviation Capital’s order book with Airbus and Boeing in the coming years. JBIC is a policy-based Financial Institution owned by the Japanese government which promotes the overseas development of strategically important Japanese owned enterprises. Commenting on the transaction, Barry Flannery, Chief Financial Officer of SMBC Aviation Capital, said “This transaction further expands our relationship with JBIC. This is a strong endorsement of SMBC Aviation Capital’s strategy and the continued success of our partnership with the SMBC Group and Sumitomo Corporation. Our shareholders bring significant financial support and product strength to our business. We in turn, have delivered strong and stable profitability in addition to expanding their financing activities in the global aviation space, so that we have true strategic alignment” SMBC Aviation Capital places six A321neo aircraft with Scoot SMBC Aviation Capital announced that it has signed its first deal with new customer Scoot, the low-cost arm of Singapore Airlines. The transaction involves the placement of six new A321neo aircraft with Scoot, with the aircraft scheduled to be delivered from the end of 2020 through 2021. The aircraft will be powered by Pratt & Whitney’s PurePower® PW1100G-JM engines. Lee Lik Hsin, CEO of Scoot, said “We look forward to receiving the A321neo aircraft from SMBC Aviation Capital; the aircraft will rejuvenate our fleet and enable us to meet our double-digit growth plan in the coming years.” Peter Barrett, CEO of SMBC Aviation Capital, said “We are very pleased to conclude this transaction with new customer Scoot as we further expand in this region. We look forward to working with Scoot on the delivery of these aircraft over the coming years and value the airline as one of our new customers.”   Acumen Aviation © 9 December 2019 All Rights Reserved.