19 Dec 2022

North American Aviation Newsletter

AEI receives Egyptian STC approval for the conversion of B737-800SF freighters

Aeronautical Engineers Inc announced that the 12-pallet position B737-800SF freighter conversion received approval from the Egyptian Civil Aviation Authority for the Arab Republic of Egypt. For its Boeing 737-800SF, AEI has received approval from the FAA, CAAC, EASA, TCCA, UK CAA, CAACI (Cayman Islands), DCA (Guernsey), ANAC, CAAM, DgCA, and now Egypt. AEI President Roy Sandri said “In the last month, we have achieved three foreign aviation approvals for our B737-800SF freighter conversion. We will continue to obtain additional foreign approvals as necessary to further assist the ease in which our leasing customers can place their aircraft around the world.”

Aircastle announces a secured aircraft financing facility for $450 million

A new $450 million secured aircraft financing facility was announced by Aircastle. Joint lead arrangers and co-syndication agents for the facility were BNP Paribas, Credit Agricole Corporate & Investment Bank, and MUFG Bank, Ltd. BNP also served as the facility's structuring agent and global coordinator. The facility offers operating cash for general business needs, such as the purchase of aircraft, and expires in November 2029. Aircastle CEO Michael Inglese said "Following our recent successes in sourcing unsecured debt, this secured financing helps diversify Aircastle's funding sources as we continue the investment momentum from our second quarter in a profitable and disciplined manner. Our strong access to capital markets is a strategic strength along with our investment grade rating and unique ownership structure."

Atlas Air Worldwide Shareholders Approve Proposed Acquisition

Atlas Air Worldwide said that a group of investors led by funds managed by affiliates of Apollo Global Management, Inc., along with investing affiliates of J.F. Lehman & Company and Hill City Capital, received the approval of the company's shareholders to purchase the company. Atlas Air Worldwide President and CEO John Dietrich said “We are pleased to receive overwhelming support from Atlas Air Worldwide shareholders, who recognize this transaction provides compelling value to them while giving us the opportunity to execute our strategic plan. This is another step forward to completing the transaction as we advance our leadership in airfreight and deliver high-quality services to our customers around the world.”

Aviation Capital Group Announces Delivery of One A321neo to JetSMART

Aviation Capital Group 0announced the delivery of one new Airbus A321neo aircraft on long-term lease to JetSMART, as part of a three-aircraft sale and lease back transaction between ACG and JetSMART.

Fly2Sky Airlines Obtains Canadian FAOC

On November 28, the Minister of Transportation of Canada issued an FAOC to Fly2Sky OOD. This FAOC has now been received officially. The Foreign Air Operator Certificate gives Fly2Sky Airlines instant permission to conduct its flight operations and offer commercial air transport services in Canada. The FAOC attests that the business is successfully conducting business in accordance with ICAO regulations.‍ Fly2Sky Airlines Accountable Manager Anelia Marinova said “Obtaining the FAOC permit is an important milestone in the next developmental stage of our company. We have for the past year been exploring our entrance into the Canadian market and look forward to providing our services and support to Canadian airlines as our growth plan continues.”

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