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Irish Aircraft Leasing Newsletter 20 June

Irish Aircraft Leasing Newsletter 20 June

AEI To Provide Merx Aviation With Its First Boeing 737-800SF Freighter Conversion

Aeronautical Engineers, Inc announced that Merx Aviation has signed a contract for an AEI Boeing 737-800SF freighter conversion. The aircraft bearing manufacturer’s serial number 35131, owned by a fund managed by affiliates of Apollo and serviced by Merx, has just commenced modification, and is scheduled to redeliver in August. An end customer has not yet been announced. All touch labor for the conversion and maintenance requirements will be accomplished by the authorized AEI Conversion Center, KF Aero in Kelowna, British Columbia, Canada.

Altavair Closes Sale and Leaseback of Four Airbus A220-300 Aircraft With airBaltic

Altavair announced the closing of a sale and leaseback with airBaltic of four Airbus A220-300 aircraft. The acquisition was funded by funds and accounts managed by KKR, with Altavair acting as servicer on the assets. Head of Acquisitions & Investments Altavair Matt Hoesley said “We are pleased to support airBaltic with this transaction. We are very excited about our new relationship with Latvia’s flagship airline and look forward to working with them as they continue to play an important role in European aviation.”

CDB Aviation Further Expands Relationship with Avianca

CDB Aviation announced the signing of new lease agreements with Avianca for two Airbus A330-300 Passenger to Freighter and one A320neo aircraft. In addition to the newly leased aircraft, the carrier is expected to take delivery of an additional five A320neos from the lessor between 2022 and 2023. CDB Aviation Head of Commercial, Americas Luís da Silva said “We are very pleased to broaden our collaboration with the Avianca team through the addition of these aircraft to support their passenger and cargo businesses. Both the fuel-efficient neo and P2F freighters are high-in-demand aircraft, which will help advance the airline’s strategy of equipping its fleet with environmentally sustainable, new technology aircraft, as well as supporting the growth of its cargo operations to capitalize on the booming demand for air freight within Latin America.”

CemAir, South African regional airline, leases two CRJ900s from TrueNoord

TrueNoord has successfully remarketed two Bombardier CRJ900 ER NextGen aircraft (MSN15398 and MSN 15400) to South African operator CemAir (Pty) Ltd who have signed long-term operating leases for both regional jets. Following transition from its previous lessee, the first aircraft in CemAir’s livery was integrated into the fleet in April, the second was delivered in May. The aircraft remain funded by TrueNoord’s term loan warehouse facility with NORD/LB, Morgan Stanley, ABSA and Barclays. TrueNoord CEO Anne-Bart Tieleman said “Regional aircraft enable African countries to develop domestic and regional connectivity. Intra-African routes are still underdeveloped and there is a huge opportunity for regional aircraft to unlock this potential. TrueNoord is always shaping versatile leasing solutions that support the regional fleet plans of African airlines like CemAir, and we are proud to expand our footprint on this great continent.”

Sirius acquires five aircraft from SMBC Aviation Capital

Sirius Aviation Capital (Sirius) has acquired a portfolio of five single-aisle, mid-life aircraft increasing total aircraft under management to 17 valued circa. $500m. The portfolio is comprised of aircraft owned and managed by SMBC Aviation Capital. Sirius has entered into a joint venture with Carolous Aviation Leasing, a portfolio company of Corrum Capital Management LLC (a US-based investment firm) to acquire the aircraft.

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