18 Nov 2019
Irish Aircraft Leasing Newsletter 18 November
AerCap CEO: MAX phased return should not flood market
Airlines will manage the capacity spike that the Boeing 737 MAX’s return will create, helped in part by what is shaping up to be a phased return, AerCap CEO Aengus Kelly said. “Everybody knows this airplane will come back. It’s planned into the schedules for some point in the new year,” Kelly said on AerCap’s 8 November earnings call reported ATW 11 November.
Aircastle Announces the Placement of Eleven Embraer E195-E2 Aircraft with KLM
Aircastle announced that it has entered into long-term lease agreements for eleven E195-E2 aircraft with KLM Cityhopper B.V. having delivery dates between 2021 and 2024. Mike Inglese, Aircastle's Chief executive Officer, stated, "We value our deep institutional relationship with The KLM Group and are pleased to announce the placement of eleven E195-E2 aircraft with this high quality, global airline. These technologically advanced, fuel efficient jets are a nice addition to Aircastle's geographically diversified investment in predominantly single-aisle, in-demand, modern aircraft. This transaction marks a milestone in our E2 program as we have now placed over half of our E2 program commitment of 25 aircraft."
CDB Aviation Delivers A321neo Aircraft to New Brazilian Airline Customer Azul
CDB Aviation announced the delivery of the first of two Airbus A321neo aircraft to Azul S.A. The aircraft is the first A321NX version of the Neo family, fitted with Airbus’ Cabin Flex option, to be operated by a Brazilian airline. The A321neo, configured in a 214 single-class seat layout and powered by CFM International’s Leap-1A engines, will provide passengers with enhanced features. “We are thrilled to have assisted the Azul team with the introduction of Brazil’s first A321NX variant of the Neo family,” noted CDB Aviation Head of Commercial, Americas Luis Da Silva. “This is the beginning of a successful strategic partnership between Azul and CDB Aviation.”
FPG Amentum arranges sale of two Southwest 737-700s
FPG Amentum has announced the sale of two Boeing 737-700s (MSNs 34320 and 34321). FPG Amentum has leased the aircraft to Southwest Airlines on behalf of FPG Amentum’s investor customer Global Aircraft Fund I since 2016 and has now arranged the sale of the aircraft to the operator.
Herbert Smith Freehills Advises Financiers On Aerdragon Aviation Partners' US$220 Million Senior Secured Commercial Loan
Herbert Smith Freehills has advised a syndicate of financiers on AerDragon Aviation Partners' (Dragon) $220 million senior secured commercial loan.The bank syndicate was led by Credit Agricole CIB (CA-CIB) and DVB Bank SE Singapore Branch and also included the Korea Development Bank, Landesbank Hessen-Thuringen Girozentrale and Norddeutsche Landesbank Girozentrale. Dragon is an aircraft leasing joint venture between AerCap, China Aviation Supplies Holding Company and affiliates of Credit Agricole CIB. Established in 2006 and based in Ireland, Dragon will use the funds to refinance a portfolio of 10 aircrafts. "This was a complex transaction that involved the seamless effort and expertise of our team across five offices," said Singapore partner Samuel Kolehmainen. "Dragon is uniquely positioned to benefit from the growing demand for air travel and aircraft leasing and we are delighted to have advised on this transaction."
NAC delivered one ATR 72-600, MSN 1145, to Air Nostrum on lease
Nordic Aviation Capital (NAC) announced 12 November the delivery of one ATR 72-600, MSN 1145, to Air Nostrum on lease.
SMBC Aviation Capital concludes portfolio sale of 29 aircraft
SMBC Aviation Capital announced the conclusion of a portfolio sale of 29 aircraft. The sale was concluded on behalf of Airspeed, an aircraft securitization which has been managed by SMBC Aviation Capital since 2007. The transaction involved the sale of 28 aircraft to aircraft leasing company, Genesis, with one additional aircraft sold to an undisclosed investor. The aircraft have been sold from SMBC Aviation Capital’s managed fleet and comprised a range of asset types on lease to over 20 airlines. Peter Barrett, CEO, SMBC Aviation Capital commented, “As a company, this is what we do best, from the original sale of the portfolio to Airspeed, managing a large portfolio of diverse aircraft with many different airlines over a twelve year timeframe and now concluding its sale. Airspeed has been a long-term customer for us and we have valued this relationship. There were many stakeholders involved in this process which demonstrates our ability to manage complex transactions. In addition, Genesis is an important customer and we acknowledge their close collaboration on this transaction.”
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