28 Jan 2019

Irish Aircraft Leasing Newsletter 28 January

Aergo Capital marks 20 years by reaching milestone of 50 commercial jet aircraft in its portfolio Aergo Capital (Aergo) announced 21 January a historic milestone for the company, reaching a portfolio of fifty (50) modern commercial jet and turboprop aircraft, as of 31 December 2018 valued at $1.3 billion. Aergo appointed Antony Snelleman as Co-Chief Commercial Officer & Global Head of Risk. Arthur Cox: Senior Appointments to Aviation Team Arthur Cox announced 21 January two senior appointments to strengthen and expand its aviation team. Rob Murphy, an international aviation industry leader, joins the firm as co-chair of Arthur Cox’s aviation team and Laura Cunningham joins the firm’s aviation practice as a partner. Managing Partner, Brian O’Gorman said: “We are delighted to welcome Rob Murphy and Laura Cunningham to the firm. Both bring considerable international experience, having led some of the largest and most significant aviation transactions in recent years. We are very excited by this development; the combined strength in depth, experience and expertise of our three leaders in aviation, Rob, Caroline and Laura, gives us a strong platform on which to consolidate and expand our aviation practice.” CDB Aviation Promotes Patrick Hannigan to President CDB Aviation announced 22 January the promotion of Patrick C. Hannigan, who has served as the company’s Chief Commercial Officer since January 2017, to the position of President, as part of the continued strategy to further strengthen executive management for the next phase of development. Contribution and continuity of Airline Economics and Airfinance Journal conferences The 2019 editions of the world’s largest airfinance conferences are set to be held in Dublin. They are expected to contribute at least €9 million (S$10m) to the local economy.  This is estimated based on analysis from PwC, which also affirms that the Dublin conferences are the largest airfinance conferences in the world, growing steadily since 2013. Fexco taps former Gecas executive to head its new aviation division Fexco has appointed former Gecas and AerCap executive Gerry Hastings as CEO of its new aviation unit. Mr Hastings aims to make the unit the top global provider of aviation services to the aviation finance market. It is headquartered in Shannon, with an office in Dublin. SMBC Aviation Capital concludes 65 aircraft deal with Airbus SMBC Aviation Capital announced 21 January an agreement for the purchase of 65 aircraft from Airbus. This transaction demonstrates the company’s commitment to further growth and represents one of SMBC Aviation Capital’s largest single transactions with the European manufacturer. The order includes 50 A320neo and 15 A321neo aircraft and at today’s list price is valued at over US$7.4 billion. WNG Capital closes USD$345 million aircraft leasing Fund II WNG Capital LLC announced 21 January the closing of WNG Aircraft Opportunities Fund II. WNG targeted a USD$300 million fund raise to invest in late life narrow body aircraft and is oversubscribed with USD$345 committed to-date and a final closing for two additional investors expected in February 2019. Fund II will primarily invest in mid-life to older narrow body aircraft. Acumen Aviation © 28 January 2019 All Rights Reserved.