10 Dec 2018
Irish Aircraft Leasing Newsletter 10 December
Avolon takes back control of four aircraft leased to Wow Air
According to The Irish Times 30 November Avolon has taken back control of four aircraft that it had leased to Wow Air. The aircraft in question are two Airbus A330s and two A320s.
Embraer and NAC Sign Firm Order for Three E190 Aircraft
Embraer has signed a firm contract for three E190 aircraft with Nordic Aviation Capital (NAC), the global leader in regional aircraft leasing. This agreement was announced as a Letter of Intent (LoI) in July at the 2018 Farnborough Air Show. The firm order has a value of USD 156 million, based on Embraer’s list prices, and will be included in Embraer’s fourth quarter backlog. These new aircraft will join the existing 155 E-Jets currently owned by NAC.
Fly Leasing to Sell 12 Aircraft
Fly Leasing announced 3 December that it has contracted to sell 12 narrowbody aircraft from its portfolio. The 12 aircraft have a weighted average age of 10.6 years and an average remaining lease term of 3.2 years. FLY anticipates the sales will generate in excess of $125 million of cash after repaying debt and satisfying other transaction-related expenses. It is expected that the sales will be completed by March 31, 2019.
Irish aircraft lessors broker deals with Brazilian manufacturer
According to The Irish Times 29 November Irish aircraft lessors have pledged to take large numbers of Brazilian manufacturer Embraer’s latest model, the E190-E2, according to John Slattery, the Clare-born chief executive of its commercial aviation arm. Mr Slattery said that he expected that direct orders from lessors would account for up to 25 per cent of E2’s Embraer will make, while sale and lease-back deals with airlines would bring their share to a third.
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