10 Jan 2022

North American Newsletter 10 January

Air Lease Corporation Announces Pricing of Public Offering of $1.5 Billion of Senior Unsecured Medium-Term Notes Air Lease Corporation announced Pricing of Public Offering of $1.5 Billion of senior unsecured medium-term notes. Air Lease Corporation intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness. BofA Securities, Inc., NatWest Markets Securities Inc., Regions Securities LLC, and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering of the 2027 Notes. BNP Paribas Securities Corp., BofA Securities, Inc., Deutsche Bank Securities Inc., and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering of the 2032 Notes. Allegiant Air Orders Up to 100 Boeing 737 MAX Aircraft Boeing and Allegiant Air announced an order for 50 737 MAX aircraft, with options for 50 additional airplanes. In Boeing's first U.S. ultra-low cost carrier (ULCC) deal, Allegiant selected two models – the 737-7 and 737-8-200. The 737-7 provides low-operating costs that enable carriers to open new routes with less economic risk, and the larger 737-8-200 offers added revenue potential and is right-sized for ULCC market expansion. Allegiant chairman and CEO Maurice J. Gallagher, Jr said “Our approach to fleet has always been opportunistic, and this exciting transaction with Boeing is no exception. While the heart of our strategy continues to center on previously-owned aircraft, the infusion of up to 100 direct-from-the-manufacturer 737s will bring numerous benefits for the future – including flexibility for capacity growth and aircraft retirements, significant environmental benefits, and modern configuration and cabin features our customers will appreciate." Atlas Air Worldwide Orders Four New Boeing 777 Freighters Atlas Air announced it has ordered four new Boeing 777 freighters in response to strong customer demand for dedicated international wide-body airfreight capacity, particularly in the fast-growing e-Commerce and Express markets. The first of the four new 777-200LRFs is expected to be delivered in November 2022 with the other three expected to be delivered throughout 2023. Avelo Airlines Raises $42 Million in Series B Funding Avelo Airlines announced it raised $42 million in Series B funding. This second-round offering increases Avelo's invested capital base to over $160 million. Avelo has made commitments to add nine more aircraft into its fleet by the end of 2022 and plans to more than double its nationwide network of destinations from 19 to at least 40 markets across the U.S. The carrier expects to add more than 450 Crewmembers. CDB Aviation Completes Deliveries of 15 New Boeing Aircraft to United CDB Aviation announced the completion of deliveries of a fleet of fifteen new Boeing aircraft to United Airlines . The sale and leaseback transaction covered a fleet of two 787-9 Dreamliners and thirteen 737 MAX 8 aircraft, which were delivered between 2020 and 2021. CDB Aviation Chief Marketing Officer Peter Goodman said “We want to thank members of both the United and CDB Aviation teams who collaborated on structuring and expediently executing this complex transaction during a particularly challenging period for the industry.” Acumen Aviation © 10 January 2022  All Rights Reserved.