29 May 2023

Irish Aircraft Leasing Newsletter

AIP Capital opens new Dublin Office

AIP Capital, a brand-new worldwide asset manager and investment firm for the aviation industry, has announced its formal launch. AIP and 777 Partners have a servicing agreement. All of 777 Partners' commercial aircraft, including the 68 737 MAX aircraft they ordered from The Boeing Company, will be managed solely by AIP.  AIP will also find aircraft financing for 777 Partners and the airlines in which it owns a share, such as Flair Airlines and Bonza Airlines. AIP has operations in Dublin, Ireland, one of the major international hubs for aviation financing.

elfc completes purchase of 100% of INAV LLC

The remaining shares of INAV LLC, a Chicago-based engine parts and components manufacturer, were purchased by Shannon-based engine lessor, elfc, on completion of the transaction. President & CEO of elfc Tom Barrett, said “We are delighted to complete the final stage of this key acquisition. Since our initial investment in 2017, we have worked closely with INAV to develop the efficiency of our engine life cycle management and enhance the product offering to our combined customer bases.  This acquisition is an important milestone for the growth and development of elfc and together with our colleagues at INAV we aim to support our customers with more choice for more products at the times they need it.”

Embraer and Azorra Reach Agreement with Royal Jordanian Airlines for Eight New E2 Jets

A new eight-aircraft agreement between Azorra and Embraer and Royal Jordanian Airlines has been announced. The transaction involves eight commercial aircraft, four E190-E2 and four E195-E2, with a list price of $635 million. Six aircraft, four E190-E2 and two E195-E2, are taken from Azorra's current backlog with Embraer. Directly from the airline, Embraer has received definite orders for two more E195-E2s.. Azorra CEO John Evans, said “We are delighted to welcome Royal Jordanian as Azorra’s newest E2 customer, continuing our team’s longstanding relationship with the airline that began with a single Embraer E175 well over a decade ago.  Royal Jordanian’s selection of the E2 underscores our belief that it is a natural next step for existing E1 operators, providing next generation economic and environmental efficiencies, while maintaining the familiarity and dependability offered by Embraer."

Sirius Aviation Capital extends two Airbus A320ceo's leases with Air New Zealand

Sirius Aviation Capital announced the lease extension of two Airbus A320ceo aircraft on lease to Air New Zealand. Sirius Aviation Capital SVP Commercial, Rob Bermingham, said “We are very pleased to continue our valued partnership with Air New Zealand and support the airline in its growth. The extension will see both Airbus A320ceo remain in operation with Air New Zealand.”

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