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Irish Aircraft Leasing Newsletter 1 March

Irish Aircraft Leasing Newsletter 1 March

ACIA Aero Leasing delivers two aircraft to Air Express Algeria

ACIA Aero Leasing has completed the transition of two aircraft to Air Express Algeria. The deliveries include one Beechcraft B1900D (UE-379) and one LET 410 (MSN 3001).  The deliveries took place in February 2021. These aircraft are part of a three aircraft transaction with the third aircraft, a further Beechcraft B1900D, scheduled to deliver in March 2021.

Genesis and Heston Aviation announce a strategic alliance to create Heston Airlines

Genesis has formed an alliance with Heston Aviation, to build and launch Heston Airlines. Heston Airlines will be a newly established Lithuanian headquartered charter and ACMI service provider. Over the past 12 months Genesis has supported the strategy and development of the airline and has just concluded on delivering the airline’s first 180-seat A320 aircraft to support the final stages of Heston Airlines application for an EASA Air Operator Certificate (AOC). Genesis will work with Heston Airlines to deliver additional A320 aircraft which are planned to enter service in 2021. Genesis CEO Karl Griffin “Since March 2020, Genesis has been working together with the Heston team on this innovative way to bring flexible lift directly into the charter and ACMI airline market, providing both wet and dry leasing solutions to airlines as they start to take off with the vaccine roll-out across Europe.” Heston Airlines CEO Jonas Rinkauskas said “Entering this agreement marks a substantial moment in our long-term strategy and efforts to increase vertical integration and cost control, and we are proud and pleased to announce it. The possibility to leverage Genesis’ global portfolio of aircraft and unparalleled expertise will contribute to both our growth as a company, and to our ability to offer significantly better, faster, more flexible, and cost-efficient services to our clients. We are eager to share these and many other subsequent advantages with them in the nearest future.”

Milestone Aviation adds eleven Airbus H225 to Air Center Helicopters’ Fleet

The Milestone Aviation Group announced that it has added 11 Airbus H225 helicopters to the Air Center Helicopters, Inc fleet. The aircraft will be delivered throughout 2021 and 2022 and will primarily be used for utility, training and transport missions for US government contract operations. Milestone Aviation CEO Pat Sheedy said ““We are extremely proud of the work we have accomplished with Air Center Helicopters. The team has demonstrated great leadership to successfully transition the H225 into the utility role including some exciting new missions such as supporting the SpaceX program and has fostered a unique partnership in the process. This result has also been achieved thanks to our strong and long-lasting relationship with Airbus. Expert task teams were brought together to identify how best to return these aircraft to service and repurpose the fleet; a major achievement for all involved.”

Voyager Announces Entry into Restructuring Support Agreement with Support of Equity holders and Unsecured Noteholders

Voyager Aviation announced that it has entered into a restructuring support agreement  documenting its previously announced agreement in principle with beneficial owners of approximately 60% of the Company’s 8.500% Senior Notes due 2021 and holders of 100% of the Company’s equity formalizing the terms for a debt restructuring transaction that will strengthen the Company’s overall financial position and enable the Company to focus on growth. Voyager stated it does not anticipate any change in its day-to-day operations or the services it provides to its customers throughout this process.

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