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Irish Aircraft Leasing Newsletter 10 January

Irish Aircraft Leasing Newsletter 10 January

AerCap Delivers First of 14 Airbus A220 Aircraft to Breeze Airways

AerCap announced that it has delivered the first of 14 new PW1500G powered Airbus A220-300 aircraft to Breeze Airways. The 14-aircraft deal comprises the sale and leaseback of 11 A220 aircraft, the second of which is scheduled to deliver this month with the remaining deliveries continuing through 2022 and 2023, and 3 aircraft owned by Einn Volant Aircraft Leasing Holdings Limited (“EVAL”), a global aircraft leasing platform and joint venture between AerCap and Caisse de dépôt et placement du Québec (“CDPQ”), a global investment group. All three aircraft will be managed by AerCap and are scheduled for delivery through 2022.

Aircastle Delivers Two Additional Embraer 195 E2 Aircraft to KLM Cityhopper

Aircastle announced that it has recently delivered two Embraer E195-E2 aircraft to KLM Cityhopper. The aircraft are equipped with Pratt & Whitney GTF Model PW1921G engines. Aircastle CEO Michael Inglese stated “We’re proud of our long-standing partnerships with KLM and Embraer and these new technology aircraft reflect our commitment to support the industry’s transition to a greener, fuel efficient fleet.”

Carlyle Aviation Partners Affiliate to Buy AMCK Aviation’s Portfolio of Aircraft

Carlyle announced that Maverick Aviation Partnership LP (“Maverick”), an investment vehicle managed by Carlyle Aviation Partners, has signed an agreement to acquire AMCK Aviation’s (“AMCK”) portfolio of aircraft. Through the transaction, Maverick will acquire 125 primarily narrowbody aircraft and an order book of 20 A320/321 neo aircraft. The total appraised value of the existing fleet is in excess of $4 billion, not including the order book. The transaction is expected to close in the second quarter of 2022 and is conditioned upon the satisfaction of certain customary closing conditions, including regulatory approvals. Carlyle Aviation Partners Chairman William Hoffman said “We are pleased to acquire AMCK’s attractive portfolio, comprised of primarily narrowbody aircraft whose lessee counterparties have performed well in the COVID operating environment. This transaction will help us enhance our capabilities for airline customers and all of our investors across the Carlyle Aviation platform.”

CDB Aviation Delivers First of Two 737-800 Aircraft to New North American Customer Sun Country

CDB Aviation announced the first of two Boeing 737-800 aircraft to Sun Country Airlines. The aircraft are configured with 183 seats in a single economy-class layout and will be operated on seasonal, point-to-point routes. CDB Aviation Chief Marketing Officer Peter Goodman stated “Sun Country’s unique model and distinct network proved exceptionally advantageous in navigating the pandemic’s headwinds and better positioning the carrier for air travel’s recovery. Our commercial team worked swiftly to provide the airline, which operates in a key focus market for our platform, with immediate access to additional aircraft capacity, supporting their network expansion.”

Maples Group Assists Stonepeak on the Aviation Sector’s First Broadly Syndicated Aircraft Loan Securitisation
The Maples Group announced it has assisted Stonepeak, a leading alternative investment firm specialising in infrastructure and real assets, on its inaugural aircraft loan securitisation transaction, SALT 2021-1, which closed on 18 October 2021. Notably, the transaction is the aviation sector’s first broadly syndicated aircraft loan securitisation and its success looks set to open up another new channel of financing for the sector. SALT 2021-1 represented the successful refinancing of the first joint investment made by Stonepeak and Bellinger Asset Management.

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