AirAsia transfers 15 aircraft to BBAM for US$201.5m
AirAsia Group completed the transfer of another 15 aircraft to Incline B Aviation and FLY Leasing on 30 August, pursuant to the sale of Asia Aviation Capital to BBAM Limited Partnership. AirAsia Group received $201.5 million in gross proceeds for the 15 aircraft, in the form of $151.5 million as cash consideration and 3.33 million FLY Leasing depository shares at $15 per share.
Avolon Opens New Dublin HQ
Avolon officially opened its new global HQ at Number One Ballsbridge, Dublin 4 on 4 September. The majority of Avolon’s 250 global workforce will now occupy over 75,000 sq. ft. of premium office space. The new office includes a 4,000 sq. ft. café with panoramic views of Dublin city; a dedicated Wellness and Learning & Development centre; and a bespoke auditorium. The office has been finished to the highest specification and it is anticipated that it will achieve LEED Gold accreditation for energy efficiency and environment design.
BeauTech Partners with NAC to Purchase Air Canada’s E190 Fleet
Nordic Aviation Capital (NAC) announced 31 August it has entered into an agreement with BeauTech Power Systems, LLC (BeauTech) for the purchase of 25 Embraer E190 aircraft which BeauTech has arranged to purchase from Air Canada. The 25 aircraft have short lease back periods with Air Canada over the forthcoming 18 months. This transaction, which is expected to close by the end of August 2018, will NAC’s position as one of the largest lessors in the regional jet and turboprop sector. With the downstream acquisition of certain of the aircraft following their lease return, this deal also strengthens BeauTech’s position as a premier regional jet engine lessor, with one of the largest portfolios of CF34 lease engines in the global market.
Nordic Aviation Capital delivered 22nd consecutive year on year increase in profit
Nordic Aviation Capital (NAC) announced 31 August that it has delivered its twenty-second year of strong financial performance. Lease Revenue increased from $690 million to $780 million in the past fiscal year, with a business performance result of $160.2 million. According to its new annual report, in the fiscal year ending 30 June 2018, the company had a $6.3 billion portfolio of 426 aircraft and 71 clients across 48 countries. During the fiscal year, NAC added 79 aircraft to the owned and managed fleet. At the end of the year, the company owned 426 aircraft, managed 11, and had purchase commitments for 84, totaling 521 aircraft.
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