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Irish Aircraft Leasing Newsletter 15 March

Irish Aircraft Leasing Newsletter 15 March

AerCap to Acquire GE Capital Aviation Services

AerCap announced that it has entered into a definitive agreement with General Electric under which AerCap will acquire 100% of GE Capital Aviation Services . The combined company will be an industry leader across all areas of aviation leasing, with over 2,000 owned and managed aircraft, over 900 owned and managed engines, over 300 owned helicopters and approximately 300 customers around the world. Aengus Kelly, Chief Executive Officer of AerCap, said, “We are excited about this opportunity to bring together two leaders in aviation leasing. AerCap and GECAS both have industry-leading teams, attractive portfolios, diversified customer bases and order books of the most in-demand new technology assets. This combination will enhance our ability to provide innovative and attractive solutions for our customers and will strengthen our cash flows, earnings and profitability. GECAS is a highly attractive business and this transaction continues our strong track record of capital allocation. As the recovery in air travel gathers pace, this transaction represents a unique opportunity that we believe will create long-term value for our investors,” added Mr. Kelly. “This business combination will also strengthen our longstanding partnership with GE Aviation, which we look forward to working with closely in the future.”

AEI To Provide Ten (10) Additional B737-800SF Freighter Conversions To Aero Capital Solutions

Aeronautical Engineers, Inc. (AEI) announced the company has been awarded a contract to provide leading mid-life lessor Aero Capital Solutions (ACS) with ten (10) additional B737-800SF Freighter Conversions. The first additional 737-800 aircraft will commence modification in June 2021 and will be performed by HAECO Xiamen. The second aircraft will commence modification at STAECO in July 2021. The eight remaining aircraft modifications will alternate between the two production lines, with the final aircraft commencing modification in September 2022.

AerSale Announces Additional Boeing 757 Passenger-To-Freighter Conversions at Its Goodyear, AZ MRO Facility

AerSale announced that it has inducted the first of its 24-owned Boeing 757-200 aircraft for passenger-to-freighter (“P2F”) conversion at its heavy-MRO center in Goodyear, AZ. The first aircraft was delivered by Boeing in 1999 to American Airlines. All 24 of these aircraft are powered by Rolls-Royce RB211-535 engines, making this fleet the narrow-body freighter of choice due to its attractive payload, range and cost of ownership characteristics.

SMBC Aviation Capital delivers Airbus A321 aircraft to Delta Air Lines

SMBC Aviation Capital announced the delivery of one (1) Airbus A321 aircraft (MSN 10085) equipped with two CFM56-5B3/3 engines to Delta Air Lines.

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