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Irish Aircraft Leasing Newsletter 13 January

AerCap Signs Lease Agreement with AirSial for 3 Airbus A320 Aircraft

AerCap announced it has signed an agreement with AirSial Limited, a privately-owned Pakistani startup airline, for the lease of three used Airbus A320 aircraft. The aircraft are scheduled to deliver in the second quarter of 2020 and will be the first aircraft to be delivered to the airline. AerCap CEO Aengus Kelly said “For more than a decade, AerCap has been the biggest aircraft lessor in the fast growing Pakistani aviation sector and we are very pleased to support a new startup airline, AirSial. With the rapid growth in air traffic in Pakistan as well as air liberalization, AirSial is well positioned to take advantage of this opportunity. We wish AirSial every success with their new venture and we look forward to working with the AirSial team as these aircraft deliver. ‘Coming together is a beginning; keeping together is progress; working together is success’.”

AerCap Leased, Purchased and Sold 353 Aircraft in 2019

AerCap has announced its major business transactions during the full year and fourth quarter of 2019. Full-year 2019 transactions included signed lease agreements for 192 aircraft and the purchase of 65 aircraft. AerCap executed sale transactions for 96 aircraft and signed financing transactions in the amount of approximately US$9.5 billion for the year. During the fourth quarter, AerCap signed lease agreements for 29 aircraft, including seven wide-body aircraft and 22 narrow-body aircraft. The company purchased 21 aircraft, including 14 Airbus A320neo Family aircraft, one Airbus A350, two Boeing 787-9s and four Embraer E2s. AerCap executed sale transactions for 32 aircraft, including eight Airbus A320 Family aircraft, five Airbus A330s, two Airbus A340s, seven Boeing 737NGs, one Boeing 737 Classic, one Boeing 757, two Boeing 767-300ERs, one Boeing 777-300 and one Boeing 787-8 from its owned portfolio, and two Airbus A320 Family aircraft and two Airbus A330s from its managed portfolio.

Airborne handed $31.5m lift from Interglobe

Dublin-based aircraft leasing and asset management company Airborne Capital has received a $31.5m (€28.4m) equity injection from shareholder Interglobe Aviation reported Irish Interdependent 24th December.

CDB Aviation Names Patrick Hannigan New CEO

CDB Aviation announced that aviation industry veteran Patrick Hannigan has been named the company’s new Chief Executive Officer, taking the helm at a pivotal time in the lessor’s robust development, with the goal of furthering its growth momentum. Hannigan, who is promoted to CEO from his current position of President and Chief Commercial Officer, succeeds Peter Chang. CDB Aviation Chairman, Mr. Xuedong Wang, commented “I am very pleased that Pat Hannigan has accepted the opportunity to lead CDB Aviation. He will provide strong leadership and build on the growth of the recent past to ensure long-term success. We are very happy with the leadership team’s success in establishing a true global platform, and we look forward to providing the support and resources that Pat and the talented staff of CDB Aviation will require to continue their efforts.”

Pat Sheedy Named CEO of Ireland based Milestone Aviation

GE Capital Aviation Services (GECAS) named Pat Sheedy to take the helm of its Ireland-based helicopter leasing business, Milestone Aviation Group, as CEO. He succeeds Greg Conlon, who recently was promoted to GECAS president and CEO. Sheedy steps into his new role with 19 years of international financial services experience, the majority of which spent with GE’s Aviation Risk Management business with a focus on emerging markets. He most recently was chief risk officer and head of portfolio and underwriting, leading Milestone’s underwriting and portfolio management, as well as overall risk for GE Engine Leasing and the cargo business of GECAS.

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