11 Oct 2021

Irish Aircraft Leasing Newsletter 11 October

Aergo Capital announces the financing of two widebody aircraft on lease to Iberia Aergo Capital recently completed the sale and leaseback of two widebody aircraft with Iberia. Aergo has now successfully closed the financing of these two Airbus A330-200 aircraft, bearing manufacturers serial numbers 1864 and 1882. Airbus Bank GmbH provided the financing for one of the aircraft (MSN 1864), which was arranged through Investec Bank plc and financing of the other aircraft (MSN 1882) was arranged by Ashland Place Finance LLC (“Ashland Place”), a commercial aviation financing platform. Both aircraft are subject to long-term leases with Iberia. Avolon to Become Major Player in the Global Air Cargo Market Avolon announced a significant commitment to the global air freighter market to capitalise on the growth in e-commerce. Air cargo revenues are forecasted to exceed $150 billion in 2021 with traffic expected to double over the next 20 years. To capitalise on this clear opportunity, Avolon has signed an agreement with Israel Aerospace Industries (IAI), the world’s leading independent freighter conversion company. Avolon will be IAI’s launch customer for their Airbus A330-300 freighter conversion programme. The agreement will see Avolon partner with IAI on its STC development and take 30 A330-300 conversion slots with IAI between 2025 and 2028. FPG Amentum, Société Générale and Marsh Close First Ever AFIC-Supported Financing of a Japanese Operating Lease (JOL) FPG Amentum announced the successful closing of the first ever financing of a Japanese Operating Lease (JOL) supported by Aircraft Finance Insurance Consortium (AFIC), a non-payment insurance product designed by Marsh, the world’s leading insurance broker and risk advisor. The financing is secured by a Boeing 737-8 MAX aircraft leased to flydubai. The transaction involved a wholly Japanese financing structure, with the debt provided by the Tokyo branch of Société Générale and the AFIC insurance policy underwritten by Aioi Nissay Dowa Insurance Co. Ltd. with reinsurance support from Fidelis Insurance and Axis Insurance. GECAS to Arrange Purchase-Leaseback of Four A350-900s with Finnair Finnair has entered into a Purchase-Leaseback (PLB) agreement for four currently operating Airbus A350-900s with GECAS and Gilead Aviation, the joint venture between GECAS and Pacific Investment Management Company LLC. The arrangement includes in-service aircraft, with three being purchased by GECAS and one by Gilead Aviation. GECAS’ SVP & Region Manager Alan Buckley stated “GECAS is extremely grateful for the decades-long relationship we’ve shared with Finnair.  We’re proud to be able to support such an outstanding operator with a range of customized solutions and arranging financing on their aircraft both pre- and post-delivery.” LCI Returns To Fixed Wing Leasing Market With Airbus A330 Acquisition LCI has re-entered the fixed wing market with the acquisition of an Airbus A330-300 commercial aircraft. The 2013-build Airbus aircraft is powered by Rolls Royce Trent 700 engines. It was acquired by a joint venture between LCI and Marathon Asset Management.Michael Platt, Vice Chairman of LCI, says “LCI prides itself on being a prime-mover in aviation leasing as demonstrated by strategic investments in widebody aircraft, freighters and helicopters, and this acquisition marks the latest chapter in that strategy. The A330-300 is a proven and popular aircraft with airlines across the globe, and a natural choice as the long-haul market recovers.” Acumen Aviation © 11 October 2021 All Rights Reserved