30 Nov 2020

Irish Aircraft Leasing Newsletter 30 November

Air Sial received first of 3 Airbus A320s from AerCap Pakistan start-up carrier Air Sial has received its first Airbus A320 at Karachi ‘s Jinnah International Airport. The aircraft is leased from Aercap and was delivered through Belfast International last weekend. The aircraft is registered as AP-BOA. CDB Aviation Brings Next Generation A330 P2F Freighter to Market CDB Aviation announced a new partnership with Germany-based EFW GmbH to conduct the Passenger-to-Freighter conversion of two Airbus A330-300 aircraft in 2021, which will be available for lease to airline customers from early 2022. The A330-300 P2F conversion program marks CDB Aviation’s first entry into freighter conversion market. “We are seeing an increasing interest from our customers for medium-sized freighters, as they look to take advantage of record-high freighter utilization, rapidly growing e-commerce demand, and higher cargo yields,” elaborated CDB Aviation Chief Executive Officer Patrick Hannigan. “We look forward to working with EFW on converting our highly efficient A330-300 aircraft into the next generation of medium widebody freighters that our customers can use to meet the burgeoning international and regional air freight demand.” Fly Leasing Reports Third Quarter 2020 Financial Results Fly Leasing announced its financial results for the third quarter of 2020 reporting a net loss of $8.1 million on revenues of $39.6 million. “Despite the challenges of the COVID-19 pandemic, we are encouraged by improved domestic air travel demand in the quarter and the recent news of successful vaccine trials, which we believe will drive a recovery in air travel demand in 2021,” said Colm Barrington, Chief Executive Officer of FLY. “Total cash collected improved from the prior quarter and we have begun to receive repayment of some deferred rents. A number of our lessees have received government support, which is helping the airlines meet their payment obligations.” Jackson Square Aviation Announces Delivery of One Airbus A321NEO Aircraft to Cebu Pacific Air Jackson Square Aviation announced the delivery of one Airbus A321NEO aircraft on lease to Cebu Pacific Air. "We are delighted to welcome Cebu Pacific as our newest customer and we look forward to a continuing partnership to support the airline’s fleet planning and financing objectives in the years ahead." said Chris Dailey, JSA President & Chief Commercial Officer. Russian government to create United Leasing with GTLK and VEB merger Russian state leasing company GTLK is to be merged with state investment corporation VEB’s leasing arm to create a single entity. Acumen Aviation © 30 November 2020 All Rights Reserved.