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Irish Aircraft Leasing Newsletter 19 April

Irish Aircraft Leasing Newsletter 19 April

Ethiopian Airlines Leases Two Dash 8-400 aircraft from TrueNoord

Ethiopian Airlines has signed an eight-year sale and leaseback agreement with TrueNoord for two further factory-new Dash 8-400 aircraft (MSN4626 and MSN4628) will be integrated into the fleet for immediate operation. The funding for the aircraft was provided by TrueNoord’s revolving warehouse facility underwritten by Citibank, Société Générale and Royal Bank of Canada.  Milbank represented TrueNoord and Clifford Chance represented the lenders on the financing. TrueNoord’s Sales Manager for Africa, Middle East, and CIS Maarten Grift said “TrueNoord is pleased to be chosen to support their regional connectivity with the versatile and economical Dash 8-400 aircraft.  Increased capacity will enable Ethiopian to boost services domestically and broaden the choice of routes across neighbouring East African countries.”

LCI and SMFL Double Joint Venture Fleet to US$420 million in two years

LCI and Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL), have acquired and committed to a further five next generation helicopters. These additional aircraft bring their total Joint Venture (JV) portfolio to 38 units valued at over $420 million – a doubling in size in less than two years from when the JV was launched in September 2020 with 19 aircraft. The most recent helicopters consist of two Airbus H145 D3, two Airbus H145 T2, and one Leonardo AW139. They will be deployed in mission-critical roles in Europe and Asia. LCI CEO Jaspal Jandu said “Our continued expansion is a clear demonstration of the initial success and long-term potential of LCI’s partnership with SMFL. Using our collective expertise, I am confident that we can achieve further growth with an increasing focus on socially-aware helicopter missions across the globe.”

Pipistrel and Lobo sign partnership and place order for 15 Nuuva V300 hVTOL aircraft

Pipistrel and Lobo Leasing Limited signed a letter of intent with deposits for the acquisition of 15 Nuuva V300 autonomous cargo hVTOL aircraft. The NUUVA V300 is an optimal hVTOL UAV for middle mile logistics with a 3 cubic meter capacity, and under favourable flight conditions, the vehicle can carry 460kg up to 400km. Senior Vice President Business Development Lobo Gustavo Semeraro said “We are proud to be part of this moment in the vertical lift industry evolution. The Pipistrel innovative approach associated with their solid position as an experienced and successful long-term established OEM places the Nuuva V300 in a position to revolutionise the existing systems of cargo delivery and the segment of middle mile logistics as well as to bring plenty of new capabilities to mission-critical roles like remote operations and aerial support to humanitarian campaigns.”

Stratos leases Boeing 737-800 to Jet2

Stratos announced the delivery of one 737-800 on long term operating lease to Jet2.com (UK) to support its growing network. The aircraft (MSN 40260) is part of the Stratos securitised portfolio JOL Air 2019-1 and was recently returned from flydubai. Stratos CEO Gary Fitzgerald said “We are delighted to welcome Jet2 as a client, an incredible success story with a phenomenal reputation for service. We’re especially happy given Philip and the team were so supportive of Stratos when we set up shop nearly 9 years ago”.

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