06 Mar 2017

Irish Aircraft Leasing Newsletter 6 March

AerCap Delivers First of Three New Airbus A350 XWB Aircraft to Air Caraïbes AerCap Holdings N.V announced the delivery of a new Airbus A350-900 to Air Caraïbes, the first of three new A350 aircraft deliveries on long-term lease from AerCap’s order book with Airbus. The aircraft was transferred to the French carrier at a ceremony in the Airbus Delivery Centre in Toulouse. A second A350-900 aircraft is scheduled for delivery to Air Caraïbes in March 2017. AerCap has one of the largest Airbus A350 XWB portfolios with a total of twenty-nine owned and on order, delivering through 2019. AVi8 Air Capital Commercial Aircraft Leasing Company appoints Raquel Brinkman as Chief Financial Officer AVi8 Air Capital, the new commercial aircraft lessor founded by Executive Chairman Ray Sisson and CEO Ed Wegel, announced the appointment of Raquel Brinkman as the company’s CFO. AVi8’s strategy is to build its fleet with the newest, most desirable narrowbody commercial aircraft, is in a capital raising period with a top global investment bank, and is currently analyzing potential deals. Irish lessors paid €128 million in tax last year, up 50% from 2015 Aircraft leasing contributed a record €128 million ($133 million) in tax to Ireland in 2016, up 50% from 2015.Lessors paid €52 million in corporation tax and €95 million in employment taxes (pay as you earn and universal social charge). In the last seven years, aircraft leasing companies have paid €445 million in tax. Ireland’s total benefit from aircraft leasing is actually much higher. These figures only reflect tax paid by companies that have classified themselves as aircraft leasing companies and do not include the benefits the industry gets from companies that support the industry like law firms, accountants, consultancies and others. The preliminary figures were released by Michael Noonan TD, Ireland’s Minister of Finance, in response to a written question from Michael McGrath TD, who represents Cork Central. Nordic Aviation Captal (NAC) sold ten Bombardier Dash 8-Q400s to Flybe Limited Nordic Aviation Capital (NAC) is pleased to confirm that it has completed the sale of ten Bombardier Dash 8-Q400s to Flybe Limited. This transaction involved MSNs 4187, 4191, 4195, 4204, 4209, 4323, 4332, 4333, 4338 and 4380. SMBC Aviation Capital delivers Boeing 737-800 to Jeju Air SMBC Aviation Capital has delivered a Boeing 737-800 (MSN 37541) to Jeju Air while the aircraft was located at Dublin Airport following a significant modification programme. This aircraft is the second of a four aircraft deal to deliver to Jeju Air with the next delivery scheduled for March 2017. SMBC Aviation Capital now has a total of nine aircraft on lease to Jeju Air. Stobart Group Limited: Acquisition of remaining interests in Propius Holdings Limited and Stobart Air Stobart Group announced the completion of the acquisition of the remaining interest in its aircraft leasing business, Propius Holdings Limited. This follows the announcement on 18 November 2016 that the Group had agreed in principle to acquire the remaining 33% interest in Propius from Aer Lingus, taking the Group’s interest in Propius to 100%. Acumen Aviation © 6 March All Rights Reserved.